Ampol set to report lower first-half earnings as refiner margins tighten
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The news: Fuel refiner and retailer Ampol expects to report first-half earnings of around $640 million, weighed down by tighter refining margins and a slide in sales volumes during the period.
The numbers: Ampol is set to report first-half replacement cost of sales (RCOP) earnings before interest, taxes, depreciation and amortisation (EBITDA) of $640 million, according to unaudited figures released today.
That would represent a fall from $736.5 million in the prior corresponding period.
First-half earnings before interest and taxes is expected to total $400 million, compared to $502.1 million reported last year.
Ampol will report a second-quarter margin from its Lytton oil refinery of USD8.71 ($13.30) per barrel, down 1.1% compared to the prior corresponding period. The first-half margin was $7.44 per barrel, down 28% from a year earlier.
The context: Ampol said earnings growth in its convenience retail and New Zealand segments supported the first-half result. However, the company was impacted by tighter refining margins and a 6.1% fall in first-half sales volumes during the period.
The source: ASX
