Viva Energy Creditably Beats Prospectus Guidance Despite Soft 1H Refiner Margins.
We make no change to our AUD 3.00 per share fair value estimate for no-moat Viva Energy. First-half 2018 replacement cost operating profit, or RCOP, of AUD 145 million creditably beat prospectus forecast of AUD 138 million by AUD 7.0 million or 5%. We include equity earnings from Viva Energy REIT and Liberty Oil, which Viva excludes from its RCOP estimate. The earnings beat was all the more impressive given a weaker-than-expected Geelong Refining Margin of USD 7.30 per barrel versus prospectus f...Viva Energy Group Ltd. Viva Energy Group Ltd is an Australia-based integrated downstream petroleum company. The Company operates across three business segments: Retail, Fuels and Marketing; Refining; and Supply, Corporate and Overheads. Retail, Fuels and Marketing segment consists of retail and commercial operations. Retail, which supplies and markets fuel products and lubricants through a national network sites. Commercial, which supplies of fuel, lubricants and specialty products to commercial customers. Refining segment owns and operates the Geelong Refinery, in Victoria, which converts imported and locally sourced crude oil into petroleum products including gasoline, diesel, jet fuel, aviation gasoline, gas, solvents, bitumen and other specialty products. Supply, Corporate and Overheads segment owns contracted access to a national infrastructure network comprising terminals, retail sites, storage tanks, depots and pipelines positioned across metropolitan and regional Australia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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