Viva Energy Group Ltd reported a record first-half profit for 2026, with group EBITDA climbing 154% year-over-year to AUD 774 million from AUD 305 million in the same period of 2025.
Net profit after tax on a replacement cost basis totaled AUD 371 million, while net debt declined to AUD 1.7 billion from AUD 2.1 billion at the end of 2025. Gearing improved to 1.5 times net debt to EBITDA, down from about 3 times at fiscal 2025. Underlying free cash flow reached AUD 449 million, with operating free cash flow at AUD 604 million.
The company declared an interim dividend of AUD 0.0773 per share, fully franked, representing a 70% payout of commercial and industrial net profit after tax on a replacement cost basis. Capital expenditure for the half totaled AUD 123 million, with inventory reduced by approximately AUD 300 million.
Energy and infrastructure EBITDA rose to AUD 354 million, supported by regional refining margins averaging over AUD 21 per barrel. Commercial and industrial earnings reached AUD 305 million, driven by sales volumes of 5.9 billion liters and underlying EBITDA of around AUD 250 million. Convenience and mobility customer visits increased to 139 million from 74 million a year earlier.
Viva Energy maintained full-year 2026 capital expenditure guidance of AUD 350 million to AUD 400 million, with most spending expected in the second half for new retail stores, site conversions, and scheduled projects. The Geelong refinery’s gasoline complex remains operational above 90% of normal capacity following an April fire, pending repairs to the alkylation unit.
Retail expansion includes plans for 20 to 25 new OTR stores in 2026 and the conversion of 25 to 30 sites to unattended self-service formats. Each conversion is estimated to require about AUD 300,000 in capital and generate roughly AUD 350,000 in incremental EBITDA. Private label products, initially focused on milk and water, are scheduled for launch in the second half of 2026.
The company’s supply chain rollout in Western Australia is set for November, completing the national rollout and concluding the Coles product supply agreement by the end of November 2026. Financial benefits from the transition are expected to materialize progressively from 2027. The Vitol supply agreement, which delivered about AUD 110 million in value during the first half, is slated for review ahead of its 2028 renewal window.
Viva Energy’s shares last traded at AUD 2.84, down 0.35% from the previous close of AUD 2.85, with a 52-week range of AUD 1.695 to AUD 2.88 and an 18% year-to-date gain.
