Viva Energy has released its unaudited financial results for Q4 2024, reporting steady growth across its core sectors.
Viva Energy’s unaudited EBITDA for 2024 is expected to be approximately $750 million, reflecting strong Commercial and Industrial (C&I) growth. However, retail margins remain under pressure due to lower fuel profitability and challenges in the tobacco segment.
Convenience and quick-service restaurant sales (excluding tobacco) were broadly flat which, together with improved gross margin (40.4 per cent), largely offset the margin impact from lower tobacco sales.
Group sales volumes reached 4.4 billion litres for the quarter, a slight increase of 0.8 per cent compared to the same period in 2023. The Convenience and Mobility (C&M) segment posted a 2 per cent increase in fuel sales, driven by network expansion and seasonal demand.
C&I sales hit a record 3 billion litres, buoyed by demand from the aviation, transport, and agriculture sectors.
Viva Energy’s Geelong Refinery faced disruptions following a power outage on January 12, 2025, caused by a lightning storm. The outage halted operations across all units, but normal production resumed last week. The incident is estimated to have impacted EBITDA by approximately $20 million.
In December, the refinery also completed its first trial of recycled plastics processing, marking a significant step towards sustainability.
The company is set to complete its acquisition of the Liberty Convenience network by March 31, 2025, after receiving regulatory approvals. The deal will be funded through existing debt facilities, with details to be disclosed later.
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