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Highlights

  • In July 2024, ALD’s positive performance continued in key segments, reflecting continuation of trend established in 1HFY24
  • Significant global demand, refinery utilisation, and expected capacity expansions in 2024 are expected to contribute to refining margins in upcoming years
  • A fully franked dividend of 60 cents per share (cps) was announced in 1HFY24, representing 61% of Replacement Cost Operating Profit (RCOP) NPAT
  • Delisting from the NZX announced, effective 27 September 2024

Ampol Ltd (ASX:ALD) is an ASX-listed company which operates an integrated fuels value chain in Australia, positioning it to capitalise on convenience and petrol segments. Notably, both segments are increasingly contributing to the company’s earnings. 

In the first half of the financial year 2024, revenue from ordinary activities fell by 1.10% YoY to AUD 18,243 million, due to 6% YoY fall in sales volumes. However, a notable surge in the average Australian dollar sales price partially offset the impact lower volumes.

The reported period witnessed staggering 197.35% YoY rise in profit after tax, to AUD 235.20 million.

In July 2024, trading performance across key segments – Convenience Retail, Fuel & Infrastructure and New Zealand, demonstrated continuation of the positive trends seen in 1HFY24. Healthy global demand, refinery utilisation rates and expected capacity additions in 2024 are anticipated to support refining margins in the upcoming year.

Shareholder value creation

The company is dedicated to creating and delivering value to its shareholders. In 1HFY24, the company announced fully franked dividend of 60 cps, representing payout ratio of 61% of Replacement Cost Operating Profit (RCOP) NPAT during same duration. Dividend pay date is 26 September 2024.

Beyond dividends, ALD’s proactive approach to shareholder satisfaction is also reflected in its decision to delist from the New Zealand Stock Exchange (NZX) effective 27 September 2024. This move, announced in August, will simplify the company’s trading processes and consolidate its focus on the ASX. With only 219 NZX shareholders holding a mere 0.02% of shares, the delisting will have minimal impact on the company’s investor, as the holding will automatically transfer to ASX, without any additional fees.

ALD committed to growth and innovation in energy sector

ALD has recently made significant strategic investments, including investments in the Lytton Ultra Low Sulphur Fuels Project and infrastructure improvement. In a move to transition towards sustainable solutions, the company invested in Energy Solutions, including fast charging infrastructure. 

Share performance of ALD

ALD shares closed 1.64% higher at AUD 29.06 apiece on 25 September 2024 with a market cap of AUD 6.81 billion. In the last one year, ALD’s share price has dropped by 11.89%, while in the past three months, it has recorded a fall of 10.56%.

52-week high of ALD is AUD 42.35, recorded on 5 April 2024 and 52-week low is AUD 28.11, recorded on 20 September 2024.

 ALD Daily Technical Chart, Source: EODHD/Others

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 25 September 2024. The reference data in this report has been partly sourced from EODHD/Others.