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Ampol (ALD) investor relations material

Ampol H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary22 Feb, 2026

Executive summary

  • RCOP EBITDA reached AUD 1.44 billion, up 20% year-on-year, with RCOP EBIT at AUD 947 million, up 32% year-on-year; RCOP NPAT before significant items was AUD 429 million, up 83% year-on-year; statutory NPAT was AUD 82 million, impacted by significant items and inventory losses.

  • Convenience Retail EBIT grew 4.8% to AUD 374 million, maintaining a 5%+ CAGR over five years; New Zealand segment remained resilient despite economic challenges.

  • Lytton refinery returned to profitability, with EBIT at AUD 163 million, benefiting from improved reliability and stronger margins.

  • F&I EBIT more than doubled to AUD 406 million, with portfolio remix and improved customer mix.

  • Total sales volume reached 25.2 billion litres, with diesel and jet fuel driving growth; international sales volumes declined as focus shifted to internal supply.

Financial highlights

  • Group delivered EBITDA of AUD 1.44 billion (+20%) and RCOP EBIT of AUD 947 million (+32%) year-on-year; RCOP NPAT before significant items was AUD 429 million (+83%), statutory NPAT was AUD 82 million.

  • Net borrowings at AUD 2.9 billion; leverage ratio at 2.3x adjusted net debt/EBITDA.

  • Final dividend of AUD 1.00 per share, fully franked, up from AUD 0.65 last year.

  • Significant items totaled AUD 210 million after tax, including AUD 89.9 million non-cash impairment of Seaoil, AUD 65.1 million loss from Energy Solutions simplification, and AUD 12.1 million loss from Cyclone Alfred.

  • Dividend payout ratio was 56% of RCOP NPAT.

Outlook and guidance

  • Net CapEx for 2026 expected around AUD 600 million, reflecting investment in safety, retail growth, and refinery upgrades.

  • Targeting further AUD 50 million nominal cost reductions across 2026 and 2027.

  • EG Australia acquisition expected to complete mid-2026, pending regulatory approval, with integration and synergy delivery as key priorities.

  • Lytton Ultra Low Sulfur Fuels project commissioning in Q2 2026.

  • Expecting continued momentum in retail and wholesale volumes, with B2B volumes up 3.2% in Q4 2025.

EG ACCC divestment site count?
Future CapEx post Lytton/highway projects?
Lytton's long-term viability post FSSP?
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Frequently asked questions

Ampol Ltd is an Australian transport energy company involved in the supply, refining, distribution, and marketing of petroleum and related products. It serves a variety of sectors including retail, commercial, and industrial customers across Australia and the Asia-Pacific region. Ampol operates within the energy and industrial sectors. The company is headquartered in Sydney, Australia, and its shares are listed on the ASX.

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