Puma Energy has reported a 19 per cent rise in earnings before interest, taxation, depreciation and amortisation (EBITDA) to $391 million for the first half of the year.
The global fuel retailer recorded a 21 per cent gain in sales volumes,, with gross profit $816 million. The company increased the number of service stations to more than 2400 driven by growth across all regions. In Australia, Puma Energy opened eight new sites, continuing the roll out of its new store concept, 7th Street.
Quarterly downstream volumes were up by 18 per cent to 5.3m3, from UK acquisitions and organic growth in Americas and Asia Pacific.
Denis Chazarain, Puma Energy CFO, said: “Puma Energy continues to perform into the second quarter, delivering strong gross profit and EBITDA while hitting yet another quarterly record in terms of sales.
“Despite global challenges and currency devaluations, our solid operating performance and working capital discipline has resulted in operating cash flows that fully financed our strategic capex and acquisitions. This stability will help us to seize on select opportunities and continue to invest in our key markets,” Mr Chazarain.
Puma Energy expands global team
Puma Energy has also announced the broadening of its team with two senior hires: a global head of retail and global head of compliance.
Alessio Torelli joins the company as global head of retail from Eni Refining & Marketing where he was responsible for retail and smart mobility services in Italy.
Prior to this, Mr Torelli covered several international retail roles, from innovation and development to commercial fleet, from network development to M&A in Eni and previously in Shell (from 2001 to 2011).
Andrew McClarron joins the company as global head of compliance. Previously, Mr McClarron worked at BP (1987 – 2016) where he was responsible for every facet of the ethics and compliance programme for a number of global businesses.
Pierre Eladari, CEO for Puma Energy, said: “Alessio and Andrew have proven track records in their respective fields, developing outstanding operational controls in dynamic environments which are the perfect foundations for their new challenge at Puma Energy. We have consistently large ambitions for Puma Energy and these roles can contribute in driving profitable growth.”