Viva Energy Group Ltd. (AU:VEA) has released an update.
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Viva Energy Group Ltd. reported a 3% rise in total sales volumes for the third quarter of 2024, reaching 4.2 billion litres, with significant growth in their Commercial & Industrial sector driven by sectors like Defence and Aviation. Despite a challenging refining market, Viva Energy’s Geelong Refining Margin remained above breakeven, supported by government payments, and the company is poised for future earnings improvements through strategic transitions and cost reductions. With ongoing projects and a focus on integrating and expanding their convenience network, the company anticipates stronger sales growth in 2025.
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