Viva Energy Group announced a trading update

Viva Energy Group Limited (ASX: VEA) announced an operational update and unaudited financial results for the three months ended 31 March 2023 (1Q2023).

• Higher sales volumes and a positive product/margin mix drove a 65% increase in commercial EBITDA (RC) to AU$132.7 million. Sales volumes climbed by 20.1% to 2,645ML, owing to ongoing improvement in aviation and generally strong demand across all commercial sectors.
• Retail EBITDA (RC) increased by 8% to AU$71.1 million, owing to continued retail margin performance and increasing sales volumes (up 4.5% year on year to 1,135ML). Coles Express sales climbed by 4.7% to 58.2 million liters per week. The transfer of the Coles Express convenience retailing operation is progressing well, with completion scheduled in May.
• The Geelong Refinery reported an EBITDA (RC) of AU$97.1 million for the quarter, with an input of 10.1MBBLs and a GRM of US$14.7/BBL.

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