Key facts
- Ampol reported a 376% increase in interim profit, reaching A$857.2 million.
- Record profit driven by strong Lytton refinery margins, convenience retail, and fuel infrastructure segments.
- Lytton refinery margin averaged US$28.26 per barrel for the half, up 280% from 1H 2025.
- Group unaudited RCOP EBITDA surged to approximately $1.6 billion for 1H 2026.
- Ampol completed the acquisition of EG Australia in June 2026.
Australia's Ampol has announced a record underlying net profit after tax of A$857.2 million ($614.44 million) for the first half of 2026, marking a significant 376% increase compared to the A$180.2 million reported in the same period last year. This result surpassed the Visible Alpha consensus estimate of A$840 million.
The strong performance was primarily driven by exceptionally high margins at its Lytton refinery, which saw a surge to $US30 ($44.46) a barrel in the June quarter, nearly four times higher than the previous year. This was partly attributed to global fuel market chaos stemming from blockades in the Strait of Hormuz.
Ampol's integrated trading, shipping, and supply chain operations also proved resilient amid ongoing Middle East conflict, ensuring stable fuel supply across Australia and New Zealand. The company reported that its Group unaudited RCOP EBITDA reached approximately $1.6 billion for the first half of 2026, a substantial rise from $649 million in the prior year's first half.
Further bolstering its operations, Ampol completed the acquisition of EG Australia in June 2026, which is anticipated to deliver annual synergies of $65 to $80 million within two years. The company also supported government fuel security initiatives by purchasing additional inventories during this volatile period.
Looking ahead, Ampol plans a major maintenance program at the Lytton refinery starting in August 2026, expected to reduce production volumes by approximately 300 ML. The company stated that elevated earnings were partly due to favourable supply and hedging positions established before recent geopolitical events.