Ampol

Ampol provides 2024 financial year update

Ampol has announced an unaudited RCOP EBIT of approximately $715 million and RCOP EBITDA of $1.2 billion for the 2024 financial year.

While the company faced headwinds, including maintenance disruptions and softer refining margins, group sales volumes rose 9.2 per cent in Q4 to 7,493 million litres, driven by wholesale and international growth.

Convenience Retail volumes declined by 4 per cent in Q4, however, international sales rose 28 per cent year-on-year, offsetting some of the challenges faced in Australia. Ampol’s New Zealand segment also performed well in a challenging economic climate, with a 2.2 per cent increase in Q4 volumes.

The Lytton Refiner Margin (LRM) fell to US$4.60 per barrel in Q4, down from US$10.52 in the same period last year. This was attributed to planned maintenance in November, which impacted production of high-value products. December saw an improvement, with the LRM recovering to US$6.10 per barrel.

The maintenance work enabled Ampol to delay a major Turnaround and Inspection (T&I) event until 2026. Refinery production for the year totalled 5,261 million litres, a 12 per cent drop compared to 2023.

Ampol will release its full audited financial results for FY 2024 on 24 February 2025.

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