Investor Presentaiton
Getting the balance right - disciplined capital allocation
536
Capital management since 2015 (A$m)
655
119
522
467
270
316
316
308
250
300
260
159
189
159
136
117
98
127
286
127
130
156
149
55
124
80
62
T
T
2015
2016
2017
2018
2019
2020
2021
2022
Capital Allocation Framework
Ampol remains committed to its Capital Allocation Framework and is focused on "getting
the balance right" between shareholder returns, core business optimisation and
appropriately paced investments, seeking appropriate returns, so Ampol can transition with
our customers
Balance sheet
■ Ampol maintains a strong investment grade credit rating, currently Baa1 from Moody's
Net borrowings of $2.4 billion as at 31 December 2022; a strong outcome following the fully
debt-funded acquisition of Z Energy
Leverage of 1.7x Adj. Net Debt¹ / EBITDA²
Shareholder returns
Total shareholder returns with respect to 2022 of $655 million
Final ordinary dividend of 105 cps taking total ordinary dividends to 225 cps, fully
franked, representing a payout ratio of 70% of 2022 RCOP NPAT
Additional 50 cps special dividend, fully franked, reflecting the distribution of proceeds
from the Z Energy property transaction, total distribution represents 86% of RCOP
NPAT
Double digit gross yield
$281 million of Franking Credits and NZ$157 million of NZ Imputation Credits released
through ordinary and special dividends
Capital expenditure
2022 gross capex of $407 million includes $39 million for rebrand (now complete) and $16
million for Future Energy (see slide 37)
■Share buy-backs and special dividends Final dividends Interim dividends
-
$2.3 billion of ordinary
dividends paid
$950 million of surplus
capital returned
$1.4 billion of franking
credits released
Л
AMPOL
Notes:
1.
Adjusted net debt of $2,914 million includes net borrowings of $2,359 million, lease liabilities of $1,129 million (calculated in accordance with AASB 16) and hybrid equity credits of $575 million (as an offset)
2. All earnings are based on the revised RCOP methodology
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