Ampol Limited's Financial Results for FY23

Ampol Limited (ASX: $ALD) has announced its financial results for the 12 months ending 31 December 2023. The company reported a Full year 2023 Group Replacement Cost Operating Profit (RCOP) Earnings Before Interest and Tax (EBIT) of $1,296.6 million, with a record total sales volumes of 28.4 billion litres, marking a 17 per cent increase compared to 2022. The Statutory Net Profit After Tax (NPAT) (Attributable to Parent) stood at $549.1 million, and the final ordinary dividend declared was 120 cents per share, fully franked, with additional special dividend declared of 60 cents per share fully franked, taking total dividends to 275 cents per share, fully franked.

CEO's Perspective on FY23 Performance

Ampol's Managing Director and CEO, Matt Halliday, expressed satisfaction with the company's performance, stating, '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. 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 also highlighted the company's strategic assets, supply chain expertise, deep customer base, and iconic brands positioning the Group for success today and into the future.

Outlook and Future Plans

Ampol's strong financial performance in FY23, underpinned by growth in non-refining divisions and the full 12 months' contribution from Z Energy, reflects the company's adaptability and resilience in rapidly changing energy markets. The company's strategic assets, supply chain expertise, and deep customer base position it for future success. Ampol's plans include investing in core fuels and convenience businesses, prudently investing in the energy transition, and extending and improving its convenience retail offers in both Australia and New Zealand. Additionally, the company aims to upgrade the Lytton refinery to produce gasoline compliant with new specifications and to expand its on-the-go electric vehicle charging network. With a strong balance sheet and a positive outlook for the short term, Ampol remains well-positioned to navigate evolving market conditions and drive continued growth.