Viva Energy has announced the Group’s financial results for the full year ended 31 December 2025, reporting a 6.4% decrease in EBITDA (RC) to $700.9 million.
These results were impacted by a weak performance in the first half across both convenience and mobility (C&M) and energy and infrastructure (E&I).
Second-half EBITDA was $396 million, up 33% on the same period last year and up 30% on the first half, reflecting improved operational performance and stronger market conditions.
Viva Energy CEO and Managing Director Scott Wyatt says he’s pleased with the progress the company has made on its strategic agenda and the results it delivered in the second half of the year of 2025.
“Earnings in this period were substantially up on both the first half and the same period last year,” he says.
“This reflected improved market conditions, the continued strength of our commercial businesses, stronger refining margins in the 4QFY25, improved retail fuel margins, and a strengthening convenience business as integration and consolidation progressed.”
Convenience and mobility
C&M EBITDA (RC) was $197.4 million in 2025.
Viva Energy says this reflects a weak first half followed by an improved second half as acquisition synergies and savings from efficiency programs were largely realised, and fuel margins strengthened. It’s also said to reflect the “full benefit” from the Liberty Convenience acquisition.
Excluding tobacco, convenience sales decreased 1% in the year with 7% sales growth from OTR offset by declines in the Express business. Tobacco sales stabilised during the second half, with Viva Energy noting that increased compliance activity may be potentially supporting improved market conditions for the sector.
Fuel sales volumes in the company-operated network were 5,146 ML, 1.9% lower than 2024. Adjusting for the impact of trading interruptions from conversions, 2025 fuel sales volumes were down 1.5%. Fuel margins strengthened during the year, Viva Energy acknowledges, with a particularly strong fourth quarter.
During the year, Viva Energy opened 35 new OTR stores (new stores and conversions) and completed five Liberty Convenience conversions.
Outlook
Viva Energy says it has had a strong start to 2026, with both the convenience and commercial businesses performing well and offsetting what has been a relatively weak period for refining margins.
The company expects to open 40 to 60 new OTR stores (including conversions) this year, which it expects to support improving sales, margins and earnings momentum.
