Ampol posts 11% drop in Q4 sales as refining margin soars
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The news: Fuel retailer and refiner Ampol is set to report an 11% drop in sales volumes for the fourth quarter, according to unaudited figures released this morning.
The numbers: Group sales volumes fell to 6,699 million litres in the fourth quarter, down from 7,493 million litres in the prior corresponding period. Sales in 2025 totalled 25,175 million litres, down 7.7% compared to 2024.
However, margins at Ampol's Lytton refinery came in at USD15.14 per barrel during the quarter, up from USD4.60 a year earlier. Refinery production rose 1% year on year to 1,558 million litres.
The company expects to deliver replacement cost operating profit (RCOP) EBITDA of $1.435 billion in FY25, up from $1.2 billion last year. It expects RCOP EBIT of $945 million, up from $715.2 million last year.
The context: Ampol said its higher refining margin reflected stronger product cracks, as planned and unplanned outages in global refining coincided with additional Russian sanctions.
Refining output was boosted by "strong operational performance" at the Lytton refinery in Queensland, the company said, enabling it to capitalise on favourable margin conditions.
Ampol will release its FY25 financial results on 23 February.
The source: ASX
