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Ampol Fuels Record Profit on Refinery Gains
23 Feb
Summary
- Ampol's Lytton refinery saw margins surge 46% to $10.34 per barrel.
- Fuel & Infrastructure division earnings more than doubled year-on-year.
- Net profit after tax exceeded consensus estimates at A$429.2 million.
Ampol, Australia's leading fuel retailer, announced better-than-expected annual profits for fiscal 2025 on Monday, Feb 23, 2026. This strong financial performance was largely driven by exceptional refiner margins at its Lytton refinery in Queensland and a solid showing from its convenience retail business.
The Lytton refinery experienced a significant boost, with margins rising 46% to $10.34 per barrel. This increase was attributed to global refinery outages and sanctions on Russia, which helped return the refinery to profitability this year. The Fuel & Infrastructure division, encompassing the Lytton business, reported underlying operating earnings of A$405.6 million, more than doubling last year's figures.
Additionally, Ampol's Convenience Retail division demonstrated resilience, with annual underlying operating earnings growing approximately 5% to A$373.7 million, even with reduced tobacco sales. This overall strength resulted in a net profit after tax from continuing operations of A$429.2 million, slightly surpassing the Visible Alpha consensus of A$428.5 million and significantly higher than the A$234.8 million reported last year. Ampol also declared a final dividend of 60 Australian cents per share.
