Half Year 2025 Ampol Ltd Earnings Call Transcript
Key Points
- Ampol Ltd (CTXAY) reported a strong safety performance, achieving near historical best levels in personal safety within convenience retail.
- The company declared an ordinary dividend of $0.40 per share, representing a payout ratio of around 53% of Rop NAT excluding significant items.
- Ampol Ltd (CTXAY) demonstrated growth in retail fuel and convenience, reducing exposure to cyclical commodity-linked earnings.
- The acquisition of Z Energy has materially enhanced the resilience of Ampol Ltd's value chain and earnings base.
- The company is on track to deliver $50 million in productivity savings for the full year 2025, with $30 million already achieved in the first half.
- Ampol Ltd (CTXAY) reported a statutory loss of $25 million, driven by movements in the historic cost of crude and product inventory.
- Total fuel sales volumes were down, largely due to reduced spot sales in the international business amid an unpredictable geopolitical environment.
- Convenience retail fuel sales decreased by 4.6%, primarily in base grade petrol volumes.
- The refinery at Lytton faced challenges with refining margins at the lower end of the cycle and impacts from Cyclone Alfred.
- The company did not receive payments under the Fuel Security Services Payment (FSSP) regime during the period, despite declining refiner margins.
Thank you for standing by and welcome to the AMOL Limited half year 2025 results. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Matt Halliday, managing director and CEO. Please go ahead.
Thank you and good morning everyone. My name is Matt Halliday. I'm the managing director and CEO of AMPOL Limited, and welcome to our 2025 half year results call.
During the presentation, we'll be referring to the documents lodged with the ASX this morning, and before beginning, I'll draw your attention to the notice on slide 2.
I'm joined by our CFO Greg Barns, who will discuss the financial results in more detail, and following the presentation, we'll take questions. Also joining us on the call today are Brent Merrick, Kate Thompson,
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