Ampol has reported RCOP EBIT of $438.2 million in the third quarter of the 2023 financial year.
Up 65% on the prior corresponding period, the results were driven by strong refiner margins and a strong result in fuels and infrastructure.
Lytton refiner margin for the third quarter of 2023 was US$19.69 per barrel with strength in both gasoline and diesel product cracks.
Total fuel sales volume for the group was up 26%, with Australian fuel sales volume growing by 11%.
International sales volume for the quarter increased by 96% due to lower third-party spot sales in the prior corresponding period.
Convenience retail sales volumes were broadly in line with the second quarter and down 6% on a like for like basis compared to the third quarter last year.
July fuel margins softened due to “rapidly rising” wholesale product prices and the lag in flowing these higher costs to retail board prices. Fuel margins improved later in the quarter as input costs stabilised. Shop sales (ex-tobacco) were up 0.8% on a like for like basis and average basket value increased compared to the same time last year despite the reduction in tobacco sales.
Z Energy grew third quarter fuel sales volumes by 8.5% compared to the same period last year, largely through wholesale supply channels.
