Investor Presentaiton
1Q2023 Trading Update
Strong start to 2023 with continued momentum in our core Retail and Commercial businesses
All financials in $M unless noted
otherwise
Sales volumes
EBITDA (RC)
1Q2023 Group Results
Change
1Q2023
1Q2022
(%)
(#)
3,780 ML
292.9
3,288 ML
15%
172.8
70%
Retail, Fuels & Marketing (RFM)
For personal use only
492 ML
120.1
Group EBITDA of $293M in 1Q2023, +70% y/y¹
Commercial EBITDA (RC) increased by 65% to $132.7M,
driven by higher sales volumes and favourable
product/margin mix.
Retail EBITDA (RC) lifted 8% to $71.1M, driven by
ongoing retail margin strength and higher sales volumes.
The Geelong Refinery delivered EBITDA (RC) of $97.1M,
with an intake of 10.1 MBBLS and a GRM of US$14.7/BBL
for the quarter.
Refining operating costs remained elevated due to high
freight rates and increased shipping activity to support
planned major maintenance turnaround in 2Q2023.
Change
1Q2023
1Q2022
(%)
(#)
Sales volumes
Retail
Commercial
EBITDA (RC)^
Retail
Commercial
Corporate costs
3,780 ML
3,288 ML
15%
492 ML
1,135 ML
1,086 ML
5%
49 ML
•
2,645 ML
2,202 ML
20%
443 ML
203.8
146.4
39%
57.4
71.1
66.0
8%
5.1
132.7
80.4
65%
52.3
(4.0)
(3.0)
32%
(1.0)
Refining
1Q2023
1Q2022
Change
(%)
(#)
Geelong Refining Margin (US$/BBL)
14.7
8.3
77%
6.4
Refining intake (MBBL)
10.1
10.5
(4%)
-0.4
EBITDA (RC)^
Corporate costs
97.1
32.5
199%
64.6
(4.0)
(3.0)
32%
(1.0)
1. Unaudited 1Q2023 financial results.
3
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