Ampol’s last strong financial performance is a testimony to the company’s continued strive for excellence.
“Ampol continues to successfully execute its strategy, delivering another strong financial performance. This result represents a near record performance including an improved earnings contribution from the non-refining divisions,” Ampol managing director and chief executive officer Matt Halliday said.
The result was underpinned by earnings growth in non-refining divisions and full 12 months’ contribution from Z Energy, which delivered expected acquisition benefits and synergies.
“The result reinforces the adaptability and resilience of Ampol’s integrated supply chain in what was another year where energy markets moved rapidly in response to geopolitical events,” Halliday said.
“We benefited from a full 12 months’ contribution 2 from Z Energy including benefits and synergies as a result of the acquisition by Ampol and the transition to Ampol supply through the year.”
The company registered a record total sales volumes of 28.4 billion litres, up 17 per cent compared to 2022.
“We continued to grow our Petrol and Convenience earnings, delivering another strong performance in Convenience Retail,” Halliday said.
According to him, the growth in Fuels and Infrastructure (Ex-Lytton) illustrated how Ampol can respond to changing market conditions through its sourcing capabilities, privileged infrastructure and effective risk management, more than doubling the earnings compared to last year.
“The balance sheet is strong, providing Ampol with the flexibility to invest in our core fuels and convenience businesses, and to prudently invest in the energy transition while delivering our highest ever dividends to shareholders,” Halliday said.
“Our strategic assets, supply chain expertise, deep customer base and iconic brands position the group to succeed today and into the future.”
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