Viva Energy Group Ltd. · ASX:VEA
Viva Energy — FY2025 Earnings Presentation
36 slides from Viva Energy's earnings presentation, Feb 24, 2026
Slide 1: 2025 Results, Full Year ended 31 December 2025
2025 Results Full Year ended 31 December 2025
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation has been prepared by Viva Energy Group Limited, fairness, accuracy, completeness or correctness of the information, achievements to differ materially from any future results, performance or ACN 626 661 032 (“Company” or “Viva Energy”). opinions and c
Slide 3: Group Highlights
Group Highlights Scott Wyatt Viva Energy Group Limited – FY2025 Results Presentation 3
Slide 4: FY25 Group Performance
FY25 Group Performance Strong improvement in underlying EBITDA in the 2HFY25 Safety -8% Group 0.0% GRM 10.0% Shop 0.3% 2H 30% EBITDA (RC) Fuel Sales Margin EBITDA $713M $749M $701M 7.0 TRCF1 17.0BL US$9.6/bbl2 39.1%3 $396M Embedding Highest ever Commissioned Improving store Significantly 2H 296.9 sa
Slide 5: FY25 Achievements
FY25 Achievements Significant progress on strategic agenda • Completed the acquisition of Liberty Convenience and opened 35 new OTR stores, largely in NSW • Stood up best-in-class ERP systems to operate a large- scale multi-brand retail business (exited Coles TSA) • Completed rebranding programs and
Slide 6: FY26 Growth Agenda
FY26 Growth Agenda Deliver on our retail strategy, improve cash contribution from refining, and shift focus to organic growth 1 Maximise refining production through low maintenance cycle and update FSSP to reduce earnings volatility 2 Stand up convenience supply chains and continue to extend OTR off
Slide 7: Energy
Energy - Commercial and Industrial - Energy and Infrastructure Scott Wyatt Viva Energy Group Limited – FY2025 Results Presentation 7
Slide 8: Integrated Energy Strategy
Integrated Energy Strategy Position underpinned by national infrastructure, sector diversity, and supply chain capability Unrivalled Position • Largest local manufacturer and supplier of fuel and specialty products to the commercial, industrial and Defence sectors in Australia • Privileged, hard to
Slide 9: Achievements
Achievements Successfully completed multi-year investment program in refining, supporting lower refining capex profile until 2030 • Commissioned Ultra Low Sulphur Gasoline production units ahead of changes in fuel specification at a total project cost of $275.7M1 • Completed major maintenance of the
Slide 10: FY25 Commercial and Industrial Performance
FY25 Commercial and Industrial Performance Resilient performance with track record of delivering reliable and high-quality results C&I Sales Volumes (ML) C&I EBITDA ($M)1 17.0 469.9 11,735 11,844 -11.5 460.5 10,965 -8.9 -6.0 9,737 1,258 1,218 8,896 1,333 1,205 3,212 3,373 1,126 2,670 1,254 1,893 5,8
Slide 11: FY25 Energy and Infrastructure Performance
FY25 Energy and Infrastructure Performance Solid operational performance through period of significant maintenance and commissioning of new plant Refining Production E&I EBITDA ($M)1 94.3 2.1 93.0 5.8 FY21 FY22 FY23 FY24 FY25 54.3 18% 18% 12% 14% 25% 10% (21.5) 3% 7% 10% 10% 43% 39% 37% 38% 25% (25.
Slide 12: Convenience Retail
Convenience Retail Jennifer Gray
Slide 13: Convenience Retail Strategy
Convenience Retail Strategy Grow earnings through refreshment and extension of our convenience offer Fuel and Convenience market remains large and attractive • Fuel demand outlook remains supportive with the broader convenience market providing an attractive growth opportunity • Best in class conven
Slide 14: Retail Strategy Progress
Retail Strategy Progress Integration activity will be largely complete once convenience supply chains are in place by end of FY26 Where we started Where we are going • Approximately 700 petrol and convenience sites operated by Coles • Over 1,000 petrol and convenience sites with 150+ quick service r
Slide 15: FY25 Achievements
FY25 Achievements Significant progress establishing foundations to deliver a consistent offer and growth • Rebrand of Coles Express to Reddy Express, and from BP to Shell across the OTR network • Stood up best-in-class ERP systems to operate a large-scale retail business (Microsoft 365, Dayforce, Bl
Slide 16: Trading Performance
Trading Performance1 Strengthening fuel margins have offset impact from declining tobacco sales, which have stabilised in 2H25 Fuel Sales (ML) Convenience Sales ($M) • Fuel sales declined 1.9% in FY25, broadly in line with the retail fuels market 5,271 5,246 5,146 1,962 1,866 • Fuel margins have ben
Slide 17: FY25 Convenience and Mobility Performance
FY25 Convenience and Mobility Performance 2H EBITDA1 of $123M up $49M (65%) on 1H driven by acquisition synergies and improving trading performance Acquisition Synergies • Transition of OTR fuel supply to Viva Energy • Full acquisition of Liberty Convenience business Temporary drag from • Exit from
Slide 18: Network Expansion and Conversion Program
Network Expansion and Conversion Program Positive early experience with clear opportunities for improved execution leading to stronger earnings uplifts Network Snapshot (Dec’25) Conversion Performance 643 • Temporary store closures (during conversion) impact sales and post conversion recovery takes
Slide 19: FY26 Drivers of Retail Earnings Growth
FY26 Drivers of Retail Earnings Growth Clearly defined initiatives to lift performance and drive earnings growth Q1 Q2 Q3 Q4 New leadership with systems and processes in place to support further improvements with in-store Retail Execution execution, operating efficiencies and customer experience (al
Slide 20: Financial performance
Financial performance Carolyn Pedic Viva Energy Group Limited – FY2025 Results Presentation 20
Slide 21: FY25 Financial Performance by Segment
FY25 Financial Performance by Segment C&M impacted by integration and trading conditions Change FY25 FY24 (%) EBITDA (RC) 700.9 748.6 (6.4%) EBIT (RC) 437.0 508.3 (14.0%) Significant Items (pre-tax $M Explanation NPAT (RC) 183.6 254.2 (27.8%) impact) Capex1 494.4 490.9 0.7% Underlying FCF 87.4 135.1
Slide 22: FY25 Cash Flow
FY25 Cash Flow Cash generation remains resilient despite significant capex and earnings softness Group cash flow bridge ($M) Refund on tax 700.9 108.5 prior year 541.8 overpayments (105.8) (161.8) 254.1 (494.4) 21.5 (22.3) (134.2) Largely related to (156.8) (222.1) (54.3) $106M one-off costs & $56M
Slide 23: Capital Expenditure
Capital Expenditure Capital Expenditure expected to moderate with peak investment completed in FY25 FY25 Capex $M Capex ($M) 477 491 494 Convenience and Mobility 144.6 350 to 400 Commercial and Industrial 96.3 304 Energy and Infrastructure 177.5 Base capital expenditure 418.4 Energy Hub Projects1 59
Slide 24: Balance Sheet
Balance Sheet Net debt increase driven by final year of elevated capex and aquisition of Liberty Convenience. Net Debt ($M) Highlights • Includes acquisition of Liberty Convenience in March 2025 54.3 4.9 2,074.8 • Capex within guidance, completing multi-year investment 134.2 494.4 program at Geelong
Slide 25: Capital Management Framework
Capital Management Framework Disciplined priorities to strengthen the balance sheet and create long-term shareholder value Cash flow from Cash for investing Net interest & Priorities operating activities activities lease payments • Lower levels of capital expenditure during FY26 (~$100M to ~$150M lo
Slide 26: Dividends
Dividends Determined fully franked dividends of 6.77 cps in FY25 1H25 FY25 • Determined final fully franked dividend of 3.94 cps, representing a 60% payout ratio of C&M $M unless noted otherwise Group C&M C&I E&I Group and C&I 2HFY25 NPAT (RC) in line with policy • No dividend payable for E&I, with
Slide 27: Outlook
Outlook Scott Wyatt Viva Energy Group Limited – FY2025 Results Presentation 27
Slide 28: Outlook
Outlook Positive outlook with clear initiatives in place driving growth across all businesses Energy (E&I and C&I) Convenience (C&M) • Underlying global demand outlook remains solid, with • Tobacco sales have stabilised. Improved retail execution and various geo-political factors driving volatility
Slide 29: Conclusion
Conclusion We are highly focused on delivering to our full potential and lifting shareholder value Key drivers of shareholder value world class • Improve retail execution, complete transition activities, and convenience retailer drive top-line convenience growth • Improve execution of conversions an
Slide 30: Appendix
VIVA ENERGY: UNRESTRICTED Appendix Viva Energy Group Limited – FY2025 Results Presentation 30
Slide 31: Health, Safety and Environment
Health, Safety and Environment Steady performance with focus on enhancing work practices in newer operations Injury frequency rates1 Loss of primary containment Process safety events1 (>100KG)1 Total Recordable Injuries2 7.6 6.6 7.0 6.0 4 29 2 2 28 24 1 19 1 1 1 1 FY22 FY23 FY24 FY25 FY22 FY23 FY24
Slide 32: C&M Operating Metrics and Financials
C&M Operating Metrics and Financials Metric 1H22 FY22 1H23 FY23 1H24 FY24 1H25 FY25 Company-operated stores # - - 706 706 1,200 1,200 1,293 1,287 Company-operated F&C stores # - - 706 706 890 890 979 984 Express # - - 706 706 680 676 663 643 OTR F&C # - - - - 210 214 224 246 Integrated QSR # - - - -
Slide 33: Refinery – Margin Analysis and Key Drivers
Refinery – Margin Analysis and Key Drivers Metric FY19 FY20 FY21 FY22 FY23 FY24 FY25 A: A$/US$ FX 0.69 0.69 0.75 0.70 0.67 0.66 0.64 B: Crude and feedstock intake mbbls 42.0 34.8 41.2 41.9 31.6 40.1 37.11 C: Geelong Refining Margin US$/bbl 6.6 3.1 7.1 17.1 9.8 8.7 9.61 D: Geelong Refining Margin = C
Slide 34: Financial Results Adjusted for Lease Accounting Effects
Financial Results Adjusted for Lease Accounting Effects FY25 FY25 FY24 FY24 Lease Lease Reported Adjusted Reported Adjusted Adjustments Adjustments figures reported figures figures reported figures Total EBITDA (RC) 700.9 495.3 1,196.2 748.6 437.4 1,186.0 Share of (loss)/profit from associates (2.9)
Slide 35: Glossary
Glossary Replacement Cost (“RC”) EBITDA (RC) (RC) and NPAT (RC) are the same Viva Energy reports its performance Profit before interest, tax, measure on a “replacement cost” (RC) basis. depreciation and amortisation Historical Cost (“HC”) Geelong Refining Margin RC is a non-IFRS measure under adjust
Slide 36: Viva Energy
Viva EnergyAustralia