Viva Energy Group Ltd (ASX: VEA) shares have soared 9.82% higher on Tuesday. At the time of writing, the shares are trading at $1.90 each.
The latest uptick comes off the back of the company's latest FY25 results, which it posted ahead of the ASX open this morning.
Despite today's uplift, the shares are now trading 9.09% lower year to date. They're also 21.87% below this time last year.
Just last month, the transport fuel supplier revealed a lift in fuel sales volumes and improved margins for the fourth quarter of 2025, despite a softer period for convenience sales.
Here's what the company posted in its full-year results for 2025 this morning.
Image source: Getty Images
EBITDA picks up in the second half of FY25
For the 12-month period ending 31st December 2025, Viva Energy posted a 6.4% decline in its EBITDA (replacement cost) to $700.9 million.
Results were affected by weak performance in the first half of 2025 in both its Convenience & Mobility (C&M) and Energy & Infrastructure (E&I) business segments.
Its Geelong Refinery was also impacted by a site-wide power outage in January and by lower output as a result of scheduled major maintenance activity, and commissioned the new Ultra Low Sulphur Gasoline (ULSG) plant in 2H FY25.
However, the majority of the heavy lifting came in the second half of the year. Viva Energy noted that for the second half of FY25, its EBITDA of $396 million was 33% higher than the prior corresponding period, and up 30% on the first half.
The company puts this down to improved operational performance and stronger market conditions.
The business also confirmed it has completed the full acquisition of Liberty Convenience and opened 35 new OTR stores (including conversions). It also implemented Enterprise Resource Planning (ERP) systems to integrate its various retail businesses and exit the Coles transitional services arrangements.
"The scale of this work has been significant and has materially strengthened the Group's retail operating platform," Viva Energy CEO and Managing Director, Scott Wyatt, said.
Record results in some segments
Viva Energy's C&I segment reported its highest-ever sales volumes, which helped support the segment's $460 million FY25 EBITDA. It also extended its track record of consistent and reliable earnings.
The company also noted a strong earnings result from its C&M segment in the second half of FY25. It said its C&M earnings in H1 FY25 were supported by strengthening fuel margins, acquisition synergies, and realised cost savings.
And a dividend payout confirmed
The board agreed to pay a fully-franked final dividend of 3.94 cents per share. This takes total FY25 dividends to 6.77 cents per share. The record date is 13 March 2026, with a payment date of 31 March 2026.
Viva Energy said its dividend reinvestment plan (DRP) remains active to support funding for future growth and attract retail shareholders. Eligible shareholders can reinvest their dividends directly into shares at a 1.5% discount.
What's next for Viva Energy and its shares?
The company said that FY26 represents the final year of retail integration. It plans to open another 40 to 60 new OTR stores (including conversions). These are expected to support improving sales, margins, and earnings momentum through FY26 and beyond.
Macquarie has an outperform rating and $3.20 target price on Viva Energy shares. This implies a huge potential 68.42% upside for Viva Energy shares at the time of writing.
