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Viva Energy Lifts Volumes and Margins as Geelong Refinery Upgrade and OTR Rollout Offset Convenience Headwinds

Story Highlights
  • Viva Energy’s 4Q2025 sales volumes inched higher, driven by aviation and industrial fuels despite marine softness and retail disruptions.
  • Convenience sales fell on weaker tobacco, but margins, OTR-format growth and a stronger refinery margin and credit facility bolstered the group’s position.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Viva Energy Lifts Volumes and Margins as Geelong Refinery Upgrade and OTR Rollout Offset Convenience Headwinds

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Viva Energy Group Ltd. ( (AU:VEA) ) has issued an update.

Viva Energy reported a modest 1.1% rise in total group sales volumes for the fourth quarter of 2025, with growth in Commercial & Industrial fuels, particularly aviation, offsetting weaker marine demand and disruptions in the Convenience & Mobility segment from store conversions and mandated divestments of Liberty sites. Convenience sales declined 11.4% year-on-year in the quarter, driven by a sharp 33.6% fall in tobacco sales amid ongoing illicit trade pressures, although tobacco volumes stabilised in the second half and overall convenience gross margin improved to 42.2%, supported by resilient non-tobacco categories and an expanding OTR-format network, where like-for-like ex-tobacco sales grew 1.9%. On the refining side, Geelong delivered a strong refining margin of US$12.1 per barrel despite lower production due to planned maintenance, as Viva successfully commissioned its Ultra Low Sulphur Gasoline plant ahead of new national fuel standards, while also strengthening its balance sheet by refinancing and upsizing its revolving credit facility to US$1.3 billion, maintaining compliance with debt covenants and liquidity headroom.

The most recent analyst rating on (AU:VEA) stock is a Hold with a A$1.90 price target. To see the full list of analyst forecasts on Viva Energy Group Ltd. stock, see the AU:VEA Stock Forecast page.

More about Viva Energy Group Ltd.

Viva Energy Group Ltd (ASX: VEA) is a leading Australian convenience retail, commercial fuels and energy infrastructure business with more than 900 fuel and convenience outlets and supply relationships with nearly 1,500 service stations nationwide. The company owns and operates the Geelong Refinery in Victoria and runs bulk fuels, aviation, bitumen, marine, chemicals, polymers and lubricants operations supported by a national network of terminals and aviation facilities.

Average Trading Volume: 3,408,963

Technical Sentiment Signal: Sell

Current Market Cap: A$3.37B

See more insights into VEA stock on TipRanks’ Stock Analysis page.

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