Viva Energy Group (ASX:VEA) has released its third quarter 2024 operating update, highlighting a 3.0% increase in total group sales volumes compared to the previous year. The company has provided guidance for the Convenience & Mobility EBITDA (RC) for FY2024, projecting it to be between $230 million and $260 million.
Viva Energy Group has demonstrated resilience in its third quarter 2024 results, with increases in sales volumes and specific sector growth. Despite challenges in the refining sector, the company's Geelong Refining Margin was supported by robust operations and government assistance. Looking forward, Viva Energy anticipates Convenience & Mobility EBITDA (RC) to range from $230 million to $260 million for FY2024. The company aims to achieve significant cost reductions and earnings improvements starting FY2025 through strategic integration and operational transitions. Viva Energy continues to focus on expanding its network and optimizing its operational efficiencies amidst a challenging refining environment.
Commercial & Industrial fuel sales growth was primarily driven by sectors such as Defence, Aviation, and Liberty Rural Group. The Convenience & Mobility business also experienced growth in fuel sales, supported by network expansion and improved trading conditions.