SIMPHIWE MBOKAZI
stations across 23 African markets.
Vivo Energy delivered an 8 percent increase in adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) to $431m for the year to end December, boosted by an 11 percent increase in sales volumes to 10 417 million litres.
The group said its revenue surged 10 percent to $8.30bn.
It said adjusted diluted earnings per share, however, declined 14 percent to 12 US cents a share.
The group more than doubled its final dividend to 2.7c a share, from 1.3c compared to last year, taking the full year dividend to 3.8c.
Chammas said the group delivered another strong set of results in 2019, with adjusted Ebitda rising by 8 percent to $431m as they build on the platform for future growth.
“In line with our objectives, volumes rose 11 percent, driven by the smooth integration of the new Engenbranded markets, which together with gross cash unit margins of $71 per thousand litres led to record gross cash profit of $743m,” Chammas said.
He added that these results demonstrated the strength and resilience of their business model and their disciplined approach as they delivered strong adjusted free cash flow in the year, and have recommended a final dividend of 2.7c a share.
“We have built momentum into 2020 and are excited about the 12 months ahead, as we look forward to delivering another year of strong growth,” he said.
Vivo Energy shares closed unchanged at R20.50 on the JSE yesterday.