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Vivo Energy earnings rise as full-year volumes increase

Wed, 06th Mar 2019 10:08

(Sharecast News) - Africa-focussed Shell and Engen fuel retailer Vivo Energy announced a 4% improvement in volumes in its full-year results on Wednesday, to 9.35 billion litres, as its total gross cash unit margin slipped to $73 per thousand litres, from $74 year-on-year.The FTSE 250 company said its second half gross cash unit margin was $71 per thousand litres, which was primarily impacted by market conditions in Morocco.Gross profit rose 2% to $624m for the year ended 31 December, with higher volumes more than offsetting lower margins, while adjusted EBITDA improved 6% to $400m.Net income totalled $146m, which was up 13% year-on-year.Adjusted diluted earnings per share were 14 US cents, while diluted headline earnings per share totalled 11 cents for the year.Vivo said it generated "strong" adjusted free cash flow of $149m, which was 8% higher than in 2017, while its leverage ratio decreased to 0.79x from 0.97x in the prior year.The board proposed a final dividend of 1.3 cents per share, which would bring the full-year dividend to 1.9 cents per share, or 30% of attributable net income.On the operational front, Vivo said it further expanded its Shell-branded network by opening a net total of 88 new retail service stations and 119 new non-fuel retail offerings during the period.It also successfully completed its transaction with Engen on 1 March, which "significantly" increased Vivo's footprint across Africa.Vivo said its total recordable case frequency, which measures the number of accidents against total man hours worked was 0.192, which it claimed was below industry peers.It also said it was the first company in Africa, and one of the first 10 companies globally, to be certified under ISO 37001 standard for anti-bribery management systems.Finally, Vivo completed the first phase of the deployment of its new enterprise resource planning system, which the board was was the first step on its "data journey"."This has been a remarkable year for Vivo Energy and we are pleased to have met our objectives for the period and delivered a strong first set of results as a public company," said chief executive officer Christian Chammas."In 2018, we achieved volume growth of 4% at a gross cash unit margin of $73 per thousand litres, which drove adjusted EBITDA of $400m."Chammas said the completion of the transaction with Engen was "transformational" for Vivo's business, adding operations in eight new countries under a "strong, well-respected" brand."During 2018 we have proved the resilience of the Group's footprint in the face of challenges in some markets."Looking forward we continue to see significant growth opportunities across our portfolio as we continue to enhance our position in our fast-growing markets across Africa."
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4 Mar 2022 09:32

Ex-TotalEnergies executive Mittelman starts as new Vivo Energy chief

(Alliance News) - Vivo Energy PLC, which sells fuels and lubricants under Shell PLC and Engen brands in 23 African countries, confirmed on Friday that Stan Mittelman assumed his duties as its new chief executive on Thursday.

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2 Mar 2022 08:26

Vivo Energy records strong 2021 results as volumes recover

(Alliance News) - Vivo Energy PLC on Wednesday posted strong financial results for 2021 as volumes recovered to close to pre-pandemic levels on the back of rapid expansion of its retail footprint.

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2 Mar 2022 08:18

Vivo Energy FY profits rise as volumes recover

(Sharecast News) - Vivo Energy posted a jump in full-year net income and revenues on Wednesday as volumes recovered to close to pre-pandemic levels.

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23 Feb 2022 15:57

UK earnings, trading statements calendar - next 7 days

Thursday 24 February 
Anglo American PLCFull Year Results
ASA International Group PLCFull Year Results
BAE Systems PLCFull Year Results
Centrica PLCFull Year Results
Conduit Holdings LtdFull Year Results
Derwent London PLCFull Year Results
Drax Group PLCFull Year Results
Genus PLCHalf Year Results
Go-Ahead Group PLCFull Year Results
Hays PLCHalf Year Results
Hikma Pharmaceuticals PLCFull Year Results
Howden Joinery Group PLCFull Year Results
Inchcape PLCFull Year Results
Lloyds Banking Group PLCFull Year Results
Macfarlane Group PLCFull Year Results
Morgan Sindall Group PLCFull Year Results
Rathbone Group PLCFull Year Results
Ricardo PLCHalf Year Results
Rolls-Royce Holdings PLCFull Year Results
Serco Group PLCFull Year Results
Spectris PLCFull Year Results
St James's Place PLCFull Year Results
Tremor International LtdFull Year Results
WPP PLCFull Year Results
Friday 25 February 
Evraz PLCFull Year Results
IMI PLCFull Year Results
International Consolidated Airlines Group SAFull Year Results
Jupiter Fund Management PLCFull Year Results
Pearson PLCFull Year Results
Rightmove PLCFull Year Results
Monday 28 February 
Associated British Foods PLCTrading Statement
BATM Advanced Communications LtdFull Year Results
Bunzl PLCFull Year Results
CentralNic Group PLCFull Year Results
GlobalData PLCFull Year Results
Greencoat Renewables PLCFull Year Results
Grit Real Estate Income Group LtdHalf Year Results
Kitwave Group PLCFull Year Results
Kosmos Energy LtdQ4 Results
Made Tech Group PLCHalf Year Results
RHI Magnesita NVFull Year Results
Tuesday 1 March 
abrdn PLCFull Year Results
Croda International PLCFull Year Results
Flutter Entertainment PLCFull Year Results
Hotel Chocolat Group PLCHalf Year Results
Intertek Group PLCFull Year Results
Man Group PLCFull Year Results
PCI-PAL PLCHalf Year Results
Quartix Technologies PLCFull Year Results
Reach PLCFull Year Results
Revolution Bars Group PLCHalf Year Results
Rotork PLCFull Year Results
Travis Perkins PLCFull Year Results
Uniphar PLCFull Year Results
Vitec Group PLCFull Year Results
XP Power LtdFull Year Results
Wednesday 2 March 
Polymetal International PLCFull Year Results
Just Eat Takeaway.com NVFull Year Results
Vistry Group PLCFull Year Results
Nichols PLCFull Year Results
Hotel Chocolat Group PLCHalf Year Results
Devro PLCFull Year Results
KRM22 PLCFull Year Results
Supermarket Income REIT PLCHalf Year Results
Foxtons Group PLCFull Year Results
Persimmon PLCFull Year Results
Hiscox PLCFull Year Results
musicMagpie PLCFull Year Results
Vivo Energy PLCFull Year Results
Aviva PLCFull Year Results
  
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20 Jan 2022 16:52

IN BRIEF: Vivo Energy says Vitol takeover backed at Thursday meetings

IN BRIEF: Vivo Energy says Vitol takeover backed at Thursday meetings

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17 Jan 2022 09:15

South African Reserve Bank gives Vivo Energy takeover green light

South African Reserve Bank gives Vivo Energy takeover green light

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14 Jan 2022 07:55

LONDON MARKET PRE-OPEN: Currys launches buyback; new CFO for Aston

LONDON MARKET PRE-OPEN: Currys launches buyback; new CFO for Aston

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14 Jan 2022 07:42

Vivo Energy finance chief Doug Lafferty moves to Aston Martin as CFO

Vivo Energy finance chief Doug Lafferty moves to Aston Martin as CFO

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14 Jan 2022 07:32

Vivo energy CFO resigns, takes job at Aston Martin

(Sharecast News) - Fuels and lubricants retailer Vivo Energy revealed on Friday that Doug Lafferty had resigned in order to take up the role of chief financial officer over at world-renowned carmaker Aston Martin Lagonda.

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13 Jan 2022 14:52

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

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25 Nov 2021 17:02

LONDON MARKET CLOSE: Steady gains as Thanksgiving damps volatility

LONDON MARKET CLOSE: Steady gains as Thanksgiving damps volatility

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25 Nov 2021 12:08

LONDON MARKET MIDDAY: European markets stay positive with US closed

LONDON MARKET MIDDAY: European markets stay positive with US closed

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25 Nov 2021 11:05

TOP NEWS SUMMARY: Swiss Life plans to boost returns; Vitol buys Vivo

TOP NEWS SUMMARY: Swiss Life plans to boost returns; Vitol buys Vivo

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25 Nov 2021 10:12

LONDON BROKER RATINGS: Morgan Stanley lowers Spectris and Renishaw

LONDON BROKER RATINGS: Morgan Stanley lowers Spectris and Renishaw

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25 Nov 2021 09:06

TOP NEWS: Vivo Energy backs takeover offer from largest investor Vitol

TOP NEWS: Vivo Energy backs takeover offer from largest investor Vitol

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