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Viva Energy reported EBITDA of $292.9 million in the first quarter of 2023, a 70 per cent increase on the same time last year.
Sales volumes increased 20.1 per cent, supported by a continued recovery in aviation and generally robust demand in all commercial sectors. Viva Energy’s sales volumes have increased but it expects commercial earnings to moderate for the remainder of the first half. Viva warned that it expected commercial earnings to moderate for the remainder of the first half due to seasonal factors and lower earnings from spot sales.
The company’s regional refining margins have declined in the first few weeks of April, largely driven by OPEC+ reductions in supply of crude oil, lower than expected global demand for diesel, minimal reductions in supply of refined products from Russia and higher than expected exports from China.
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