Ampol (ALD) Q4 2025 TU earnings summary

Executive summary

• Lytton Refiner Margin (LRM) for 4Q 2025 was US$15.14/bbl, up over 100% from 4Q 2024, driven by stronger product cracks and global supply disruptions.

• Preliminary unaudited Group RCOP EBIT for FY 2025 is approximately $945 million, with RCOP EBITDA at ~$1,435 million.

• Convenience Retail delivered mid-single digit EBIT growth year-over-year, while New Zealand EBIT is expected to be in line with the prior year.

• F&I Australia achieved high single-digit RCOP EBIT growth despite lower wholesale volumes; F&I International posted a modest profit.

Financial highlights

• Group total sales volume for 4Q 2025 was 6,699 ML, down 11% year-over-year; FY 2025 volume was 25,175 ML, down 7.7%.

• Lytton refinery production for 4Q 2025 increased 1.0% to 1,558 ML; FY 2025 production rose 4.9% to 5,519 ML.

• LRM for FY 2025 was US$10.34/bbl, up 46% from US$7.08/bbl in FY 2024.

Outlook and guidance

• Full audited FY 2025 results will be released on 23 February 2026.