Viva Energy Group (VEA) Company Presentation summary

Strategic positioning and growth drivers

• Operates Australia's largest company-operated fuel and convenience network with 982 stores and over 2 million vehicles refuelled weekly.

• Strategic infrastructure, diversified offerings, and government-backed refining margins provide enduring competitive advantage.

• OTR Group and Liberty acquisitions accelerate network expansion and unlock $90M+ targeted synergies post-integration.

• Commercial segment excels in high-touch B2B relationships, with top 50 customers averaging over 15 years' tenure.

• Supplies over 25% of Australia’s liquid fuel needs, with refining capacity exceeding 40MBBLs annually.

Financial and operational performance

• 1Q2025 trading in line with guidance; group sales volumes down 4.2% YoY, but retail fuel margins improved.

• Commercial fuel sales declined 6% due to adverse weather and lower wholesale sales, offset by margin growth.

• Convenience sales (ex-tobacco) grew 0.5% YoY, with gross margin stable at 38.2%.

• Geelong Refining Margin at US$7.9/BBL, marginally above break-even, impacted by a site-wide shutdown and higher energy costs.

• OTR stores outperform network peers in shop sales, with more than 70% in the top quartile.

Convenience and QSR strategy

• Three-step transformation: take control of the shop, extend the network, and transform the offering with OTR’s leading convenience and QSR model.

• OTR and Express/Liberty brands provide complementary strengths, with OTR excelling in convenience and Express/Liberty in fuel.

• QSR network includes 107 company-operated stores, with master franchise rights for Guzman y Gomez, Oporto, and Krispy Kreme in select regions.

• 40–60 OTR format store conversions targeted for FY25, mainly in NSW, to drive supply chain and marketing efficiencies.

• Convenience and QSR contribute around 50% of margin, with significant growth potential from store conversions and offer extensions.