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Prices & Quotes - UK Markets - Vivo Energy (VVO)

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Share Price:
Down 98.70p
Change Today:
-0.80p
Market Cap:
1,250.47m
Sector:
General Retailers

Vivo Energy expanding network after Covid-affected first half

By Josh White

Date: Tuesday 28 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Vivo Energy reported a 7% fall in volumes in its first half on Tuesday, to 4.62 billion litres, while revenues fell 14% to $3.38bn (2.63bn).

The FTSE 250 company, which retails Shell and Engen-branded fuels in African markets, said its gross profit was 18% weaker at $261m, as its gross cash margin was 7% lower at $65 per 1,000 litres.

Gross cash profits were 15% lower at $300m, and adjusted EBITDA was down 34% at $140m.

Vivo's net income plunged 82% to $13m, while diluted earnings per share were down 88% at one cent, and adjusted diluted earnings per share were 85% weaker, also at one cent.

On the operational front, Vivo Energy said it supported its employees, customers, and communities through "a range of initiatives" in the six months ended 30 June, to mitigate the impact of Covid-19.

It also said it protected the business by reducing discretionary marketing spend, pausing uncommitted capital expenditure, and temporarily reducing the supply of fuels.

The company said it maintained its safety focus, with a total recordable case frequency for the period of zero.

Vivo also expanded its retail footprint by a net total of 30 new retail service stations, and 23 non-fuel retail offerings.

The firm said it was finalising its agreements to acquire several small dealer networks in Engen markets, as well as new quick-service restaurant joint ventures.

"We entered the Covid-19 pandemic in a position of strength and ended the period cautiously optimistic, having seen a rebound in June in both volumes and margins from their April lows," said chief executive officer Christian Chammas.

"We are a resilient business, our business model remains unchanged and we continue to position ourselves for future growth."

At 0911 BST, shares in Vivo Energy were up 2.94% at 77.1p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Vivo Energy Market Data

Currency UK Pounds
Price 98.70p
Change Today -0.80p
52 Week High 109.00p
52 Week Low 67.50p
Volume 793,490
Shares Issued 1,266.94m
Market Cap 1,250.47m

Performance Indicators

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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 6
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Vivo Energy Dividends

  Latest Previous
  Final Interim
Ex-Div 27-May-21 19-Nov-20
Paid 25-Jun-21 18-Dec-20
Amount 3.79¢ 2.65¢

Trades for 22-Jun-2021

Time Volume / Share Price
16:35 249,977 @ 98.70p
16:29 566 @ 98.60p
16:29 1,250 @ 98.60p
16:29 841 @ 98.80p
16:29 19 @ 98.80p

Vivo Energy Key Personnel

Chair John Daly
CEO Christian Chammas
CFO Douglas Lafferty