Financial results Year ended 31 December 2019 Helping people reach their destination Viva Energy Group Limited
Important notice and disclaimer This presentation has been prepared by Viva Energy Group In preparing this presentation the authors have relied upon and Any forward-looking statements, including projections, guidance Limited, ACN 626 661 032 (“ Company ” or “ Viva Energy ”). assumed, without independent verification, the accuracy and on future revenues, earnings and estimates, are provided as a The Company was incorporated on 7 June 2018, and in July completeness of all information available from public sources general guide only and should not be relied upon as an indication 2018 was part of an initial public offering pursuant to which its or which has otherwise been reviewed in preparation of the or guarantee of future performance. Forward-looking securities were listed on the ASX (the “IPO”). As part of that presentation. All reasonable care has been taken in preparing statements involve known and unknown risks, uncertainties and other factors that may cause Viva Energy’s actual results, process the Company acquired Viva Energy Holding Pty Ltd the information and assumptions contained in this presentation, (“ VEH ”), the former holding company of the Viva Energy group. however no representation or warranty, express or implied, is performance or achievements to differ materially from any made as to the fairness, accuracy, completeness or correctness future results, performance or achievements expressed or In this presentation, where results and reporting relates to the of the information, opinions and conclusions contained in this implied by these forward-looking statements. Any forward-looking period prior to the incorporation of the Company or its acquisition presentation. The information contained in this presentation is statements, opinions and estimates in this presentation are of VEH, they refer to the Viva Energy group as operated with current as at the date of this presentation (save where a different based on assumptions and contingencies which are subject VEH as the holding company, which are the relevant financials date is indicated, in which case the information is current to that to change without notice, as are statements about market and for the purposes of consolidation in 2018, for comparison. date) and is subject to change without notice. Past performance industry trends, which are based on interpretations of current is not a reliable indicator of future performance. market conditions. The information provided in this presentation should be considered together with the financial statements, ASX To the extent that certain statements in this presentation may You should rely on your own independent assessment of any announcements and other information available on the Viva constitute ‘forward - looking statements’ or statements about information, statements or representations contained in this Energy website www.vivaenergy.com.au. The information is ‘future matters’, the information reflects Viva Energy’s intent, presentation and any reliance on information in this presentation in summary form and does not purport to be complete. This belief or expectations at the date of this presentation. Such will be entirely at your own risk. This presentation may not be presentation is for information purposes only, is of a general prospective financial information contained within this reproduced or published, in whole or in part, for any purpose nature, does not constitute financial advice, nor is it intended to presentation may be unreliable given the circumstances and without the prior written permission of Viva Energy. constitute legal, tax or accounting advice or opinion. It does not the underlying assumptions to this information may materially constitute in any jurisdiction, whether in Australia or elsewhere, Viva Energy is a Shell Licensee and uses Shell trademarks change in the future. an invitation to apply for or purchase securities of Viva Energy under license. The views expressed in this release or statement, or any other financial product. The distribution of this presentation Neither Viva Energy nor any of their associates, related entities are made by Viva Energy and are not made on behalf of, nor outside Australia may be restricted by law. Any recipient of this or directors, give any warranty as to the accuracy, reliability or do they necessarily reflect the views of, any company of the presentation outside Australia must seek advice on and observe completeness of the information contained in this presentation. Shell Group of companies. any such restrictions. Except to the extent liability under any applicable laws cannot be excluded and subject to any continuing obligations under This presentation has been prepared without taking into account the ASX listing rules, Viva Energy and its associates, related the investment objectives, financial situation or particular needs entities, directors, employees and consultants do not accept of any particular person. Investors must rely on their own and expressly disclaim any liability for any loss or damage examination of Viva Energy, including the merits and risks (whether direct, indirect, consequential or otherwise) arising involved. Each person should consult a professional investment from the use of, or reliance on, anything contained in or adviser before making any decision regarding a financial product. omitted from this presentation. Viva Energy Group Limited FY2019 results presentation 2
Scott Wyatt Chief Executive Officer Viva Energy Group Limited Viva Energy Group Limited FY2019 results presentation 3
Sustainability Our various sustainability programs remain a strong focus of the company Health and Safety Environmental • 20% reduction in recordable injury rate • Lowest level of primary containment incidents in five years • Third consecutive year free of significant process safety • 65% of refining fresh water consumption from recycled incidents 3 sources • Brisbane terminal Major Hazard Facility licence renewed • Green and golden bell frog habitat established at Sydney for 5 years terminal • More than 900 workers trained in AERO safety program at • Hazardous waste recycling and reuse at the Geelong Geelong refinery • 95% of employees feel their team is committed to operating safely Total recordable injury frequency rate 1 Loss of primary containment (>1,000kg) 7 5.8 4.7 5 4.5 4.6 4 3 2.5 2 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 Community People Goal Zero • Fuel supply and donations ($500K) to those impacted by • First group of part time operators have graduated from We believe every incident is the summer bushfires their training program at Geelong Refinery preventable and we are • Inaugural Reconciliation Action Plan launched • Career Tracker Internship program, providing career and committed to pursuing the • More than 1000 young people supported leadership development for Indigenous students goal of no harm to people and • Women account for 40% of new hires and 39% of senior by Viva Energy community programs 2 protecting the environment • Premier Partner of the inaugural leaders Geelong Football Club’s AFLW team • Company is recognised as an Employer of Choice for Gender Equality • High levels of employee engagement 1. The total recordable injury frequency rate (TRIFR), or total recordable injury rate, is the number of injuries requiring medical treatment per million hours worked (68% Engagement Score) Programs include NASCA’s Resilience Program, Cathy Freeman Foundation Horizon Program and 2. Headspace Training and mentorship Viva Energy Group Limited FY2019 results presentation 4 3. Zero API Tier 1 process safety incidents
FY2019 scorecard Strong operational performance and disciplined capital management Operational Financial Balance Capital performance 1 performance sheet management 4.7c 14.7BL $644.5m $137.4m FY2019 dividend per share, Fuel sales volume Group Underlying EBITDA (RC) Net debt fully franked up 4.6% pcp at top end of guidance 1 down from $168.7m 3 $734.3m 42.0mbbl $135.8m $2,448.3m Divestment of Viva Energy Refining intake Underlying NPAT (RC) Lease liability REIT (VVR) up 4.7% pcp within guidance 1 65MLpw $161.7m $153.0m US$700m Ave. weekly Alliance FY2019 capex Distributable NPAT (RC) 2 Total facility limit volumes for 2H2019 down from $241.3m in FY2018 up 9% from 1H2019 Note: All financial results are presented under AASB 16 (the new lease accounting standard). To assist with transition of reporting, financials impacted by the new lease accounting standard have been reported under both standards in the appendix (refer slides 28, 29) FY2019 Group Underlying EBITDA (RC) guidance range was $625 - $655 million. FY2019 Underlying NPAT (RC) guidance range was $135 – $165 million as advised on ASX 9 December 2019 1. 2. For dividend purposes, Underlying NPAT has been adjusted for short term outcomes that are expected to normalise over the medium term, most notably non-cash one off items including any non-cash impact from adoption of AASB 16 Leases (referred to as Distributable NPAT). A reconciliation of Distributable NPAT for dividend purposes has been provided in the appendix (refer slide 21) 3. As at 30 June 2019 Viva Energy Group Limited FY2019 results presentation 5
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