Z Energy Forecasts Negative Operational Performance

  • Dec 13, 2019 AEDT
  • Team Kalkine

Z Energy Limited (ASX: ZEL) is forecasting a reduction in operational performance for December and the final quarter of FY20 due to the negative impact of low refining margins and continued price discounting in the retail fuel market.

The company has changed its EBITDAF guidance for FY20 to be in range of $350 and $385 million compared to the previously announced guidance of $390 and $430 million, due to low refining margins.

The reduction of $120 million can be split into $20 million in lower refining margins and the company response to the changes arising from MARPOL and $90 million in lost retail margins.

The company has also changed its dividend guidance for FY20 to $0.40 per share compared to the previous guidance of $0.48 to $0.50 cps.


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