News: VEA Viva Energy Group Says 1H20 Total Sales Volumes Expected To Be About 6,100-6,200 Mln...

June 16 (Reuters) - Viva Energy Group Ltd (VEA) :

• TOTAL SALES VOLUMES FOR 1H2020 ARE EXPECTED TO BE APPROXIMATELY 6,100 TO 6,200 MILLION LITRES
• 1H2020 GROUP UNDERLYING EBITDA (RC) EXPECTED TO BE APPROXIMATELY $257.5 - 287.5 MILLION
• 1H2020 UNDERLYING NPAT (RC) EXPECTED TO BE APPROXIMATELY $20.0 - 50.0 MILLION
• EXCLUDING AVIATION, COMMERCIAL SALES HAVE REMAINED RESILIENT AND ARE SO FAR LARGELY UNAFFECTED BY COVID-19 RELATED RESTRICTIONS
• PREVIOUSLY ANNOUNCED ON-MARKET BUYBACK IS TO COMMENCE IN JUNE 2020
• WILL PROCEED WITH MAJOR MAINTENANCE OF RESIDUAL CATALYTLIC CRACKING UNIT DURING 2020
• POSSIBLE THAT REFINERY MARGINS WILL REMAIN WEAKER THAN HISTORICAL LEVELS THROUGH REMAINDER OF 2020, POSSIBLY INTO 2021
• VIVA ENERGY SEES TOTAL CAPITAL EXPENDITURE OF MAINTENANCE OF RESIDUAL CATALYTLIC CRACKING UNIT BETWEEN $85-100 MILLION
• IN NEAR TERM, GEELONG WELL POSITIONED TO ESTABLISH LNG IMPORT, SUPPLY & STORAGE FACILITY
• GEELONG REFINERY REDUCED PRODUCTION IN RESPONSE TO EFFECTS OF COVID-19
• FIRST TRANCHE OF ON-MARKET BUY-BACK TARGETING UP TO $50 MILLION OF SECURITIES
• UNDERLYING EBITDA (RC) FOR 1H2020 FOR REFINING BUSINESS IS EXPECTED TO BE ABOUT LOSS OF $42.5 MILLION - LOSS OF $32.5 MILLION
• PLANNED MAINTENANCE OF RCCU TO COMMENCE IN EARLY JULY & EXTEND ACROSS FOUR MONTHS, ALL UNITS TO BE RESTARTED IN NOVEMBER
• 1H2020 UNDERLYING EBITDA (RC) FOR COMMERCIAL BUSINESS EXPECTED TO BE ABOUT $130.0–135.0 MILLION
• SIGNIFICANT ITEMS AFTER TAX ARE EXPECTED TO BE ABOUT $190.0 MILLION FOR 1H2020

Source text https://reut.rs/37vZjH4

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