Viva Energy Group Ltd. ( (AU:VEA) ) has shared an update.
Viva Energy Group Ltd. reported a 5% increase in EBITDA to $748.6 million for FY2024, driven by strong sales growth in its Commercial business and improved refinery operations. Despite challenges such as lower demand in the convenience sector and declining regional refining margins, the company is progressing with its transformation strategy, including the acquisition of OTR Group and plans to capture $90 million in synergies. The company is also targeting cost reductions and expects store conversions to drive growth, with 40 to 60 OTR stores planned for conversion or opening in the coming year.
More about Viva Energy Group Ltd.
Viva Energy Group Ltd. operates in the energy sector, primarily focusing on fuel sales and refining. The company is involved in commercial and industrial fuel sales, convenience retailing, and infrastructure operations, with a significant presence in the Australian market.
YTD Price Performance: -5.26%
Average Trading Volume: 340
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €2.35B
For detailed information about VEA stock, go to TipRanks’ Stock Analysis page.