Ampol’s Annual General Meeting was held today with Matthew Halliday, CEO and Managing Director, providing a company update.
Halliday reiterated Ampol’s commitment to achieving net zero emissions from its operations by 2040 and its plan to invest a minimum of $100 million in future energy projects by 2025.
“Ampol is uniquely positioned to play a key role in the energy transition. Our integrated supply chain capabilities and privileged assets, our Australian brand, our customer relationships, and industry knowledge, when combined with our financial strength, set us apart from our competitors, and will put us at the very forefront of building new energy solutions to support change right across the Australian economy.”
Halliday said as technology and policy both continue to evolve, Ampol expects the most commercially viable alternative fuel solutions to include a combination of electricity, hydrogen, biofuels, and carbon offsets.
“We’re going to focus our efforts on developing our customer value proposition in these key areas to seek to position Hampel as a provider and partner of choice for industry, government, and importantly for the local communities where we operate.
“To begin the execution of this strategy in 2021, we announced a funding agreement with the Australian Renewable Energy Agency (ARENA) to commence the development of a national EV fast charging network with over 200 bays across more than 100 of our sites. And our first sites will be operational under our new AmpCharge brand over the coming months.”
Halliday said that the company’s flexibility to repurpose its market leading infrastructure and distribution networks for multiple uses, will support the most efficient pathway for its customer’s decarbonisation ambitions, and underpins Ampol’s competitive advantage to participate in new energy opportunities.
Halliday also discussed the success of the rebranding rollout from Caltex, with 1215 sites rebranded across 1900 store network.
“Customer feedback demonstrates that the iconic Australian brand is resonating strongly with our customers. Our rebranded sites have outperformed control sites on all key performance indicators, including measures of Total Transactions, as well as volume measures such as total fuel, premium petrol, and Ampol card.”
The company has continued to deliver prompted and unprompted customer awareness of the Ampol brand across all demographic sectors, including major partnerships with the NRL as naming rights sponsor of the State of Origin, and with Red Bull Ampol Racing.
Speaking on Ampol’s first quarter 2022 results, Halliday said he was very pleased to gave delivered a strong first quarter during a period of turbulent operating conditions.
“On a replacement cost of sales basis, Ampol’s earnings before interest and tax were up for the first quarter 44 per cent to $189.1 million compared to the same period last year. Our refining margins improved 93 per cent compared to the first quarter of 2021. And we also successfully continued with our growth strategy execution across both fuels and infrastructure and the convenience retail business.”
On the acquisition of Z Energy, Halliday said the acquisition is now complete.
“I’m excited by the potential of our two companies coming together and look forward to further welcoming Z Energy into the Ampol family over the coming months.”