Ampol has provided an update on the company’s trading conditions for the first quarter of the 2025 financial year.
The company’s Australian convenience retail network continued to perform “well” during the quarter, delivering mid-single digit percentage EBIT growth.
“Ampol’s premium network and market positioning underpinned improved fuel margins, while in-store execution and store margin expansion helped counter declining tobacco sales,” says the company.
The New Zealand segment also grew earnings by mid-single digit percentage compared to the first quarter last year as fuel volumes and margins improved and non-fuel income also grew.
“The result demonstrates the effectiveness of Z Energy’s market segmentation and channel strategies – particularly the store refresh program in the Z premium network and by reaching the affordable segment via the supply relationship with Foodstuff’s Pak’nSave offer,” says Ampol.
Lytton Refiner Margin (LRM) for the first quarter was US$6.07 per barrel, mostly due to weakness in Singapore refined product cracks across the quarter (down ~US$6 per barrel year on year). LRM included the immediate impact of Cyclone Alfred, including increased demurrage costs associated with the damage to a crude tank roof.
Total refinery production for the first quarter was 1303 million litres including the impact of approximately 10 days of lost production due to the proactive measures taken to secure the refinery ahead of Cyclone Alfred making landfall.
