Viva Energy Group (VEA) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional custodians and explanation of hybrid format, allowing both in-person and online participation.

• Chairman Robert Hill and CEO Scott Wyatt delivered opening addresses, highlighting FY24 performance and strategic updates.

• Procedural matters covered, including voting methods, eligibility, and Q&A processes for both in-person and remote attendees.

• The agenda included financial and remuneration reports, director elections, and executive incentive approvals.

Financial performance review

• EBITDA reached approximately AUD 750 million in 2024, the second highest since listing, driven by strong commercial business performance.

• Group sales grew by 4% to nearly 17 billion liters, supplying over 25% of Australia's liquid energy needs.

• Convenience business earnings were AUD 231 million, broadly in line with 2023, but impacted by low sales growth, illicit tobacco, and cost escalation.

• Commercial business EBITDA increased by 5% to AUD 470 million, with strong demand from aviation, resources, agriculture, and defense sectors.

• Refining business EBITDA was AUD 94 million, up 44% from the prior year, despite weak regional margins in the second half.

Board and executive committee updates

• Board changes included welcoming Mark Chung and John Joyce, both bringing significant retail and energy sector experience.

• Executive team changes included Bill Patterson as Executive GM of Geelong Refinery and Debbie Browning as incoming Chief Digital and Transformation Officer.

• Board comprises a mix of independent and non-executive directors, including recent appointments and committee memberships.

• Mark Chung appointed as a new director in May 2025.