Australian fuel retailer Viva Energy plunges on profit miss, bleak outlook

Viva Energy

25/02/2025 24:37

** Shares of Australian fuel retailer Viva Energy Group
 VEA.AX  fall 22.1% to A$1.870, their lowest level since April
26, 2021
    ** VEA fell as much as 24.27% to A$1.818 earlier in the day,
marking its worst intraday pct drop ever
    ** VEA is the second biggest loser in the ASX200 benchmark
index  .AXJO 
    ** More than 11.9 million shares change hands vs the 30-day
average of 4.1 million shares
    ** VEA FY24 underlying profit down 20% at A$254.2 million
($161.24 million), and below the Visible Alpha consensus of
A$260.6 million
    ** Convenience and Commercial segment's combined EBITDA
outlook of A$270 million to A$330 million, below VA consensus of
A$380 million
    ** "Another disappointment, with material consensus estimate
downgrades implied by commentary," says Jefferies
    ** VEA down 29.5% this year, including the session's move


($1 = 1.5765 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com))