Viva Energy Group (ASX:VEA) Reports H12024 Results: Fuel Sales Up and EBITDA Forecast

2 min read | July 29, 2024 07:21 PM AEST | By Team Kalkine Media

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Viva Energy Group (ASX:VEA) Reports H12024 Results: Fuel Sales Up and EBITDA Forecast — Image source: © Timonschneider | Megapixl.com

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Viva Energy Group Ltd (ASX:VEA) has reported its results for the first half of 2024, marked by a notable increase in fuel sales and positive financial expectations. The company's latest update highlights several achievements, including a rise in fuel sales, EBITDA projections, and a refining margin.

Fuel Sales Surge 5.7%

In the first half of 2024, Viva Energy Group achieved a 5.7% increase in fuel sales compared to the same period last year. The increase in fuel sales reflects both higher volumes and improved market conditions, contributing to the overall positive performance.

Viva Energy Group anticipates an unaudited EBITDA for the first half of 2024 to fall between AU$445 million and AU$455 million. The expected EBITDA range indicates a continuation of the group's robust profitability, driven by operational efficiency and favorable market dynamics.

The Geelong refining margin for the first half of 2024 stood at US$10.8 per barrel. This margin is a critical indicator of the company's refining profitability and reflects the favorable conditions in the refining sector. A strong refining margin suggests that Viva Energy Group has been able to capitalise on market opportunities and optimize its refining operations effectively.

For the first half of 2024, Viva Energy Group reported total sales volumes of 8,277 million liters (ML). This volume reflects the scale of the company’s operations and its ability to meet substantial market demand. The solid sales volume performance aligns with the increase in fuel sales, demonstrating the company's capacity to manage large-scale distribution and logistics effectively.

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