Ampol Ltd (ASX: ALD) share price has been in focus after the company delivered a strong first half for 2026, with a 245% jump in RCOP EBIT to $1,392 million and the interim dividend more than quadrupling to 185 cents per share.
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What did Ampol Ltd report?
- Group RCOP EBITDA (excluding Significant Items) rose to $1,637 million, up 152% on 1H 2025
- RCOP Net Profit After Tax (NPAT) (excluding Significant Items) surged to $857 million, up 376%
- Statutory NPAT at $1,363 million, compared to a loss of $25 million last year
- Fully franked interim dividend of 185 cents per share, more than four times the prior year
- EG Australia acquisition completed, supporting retail growth strategy
What else do investors need to know?
Ampol's strong result was delivered despite global market disruptions from conflict in the Middle East, with reliable supply chains and trading capabilities helping to capture opportunities across its operations. Notably, its refinery performance improved, with Lytton Refiner Margin per barrel reaching a robust US$28.26 and total production up 8.7%.
The company's Energy Solutions division continued to progress, narrowing losses and increasing public EV charging network bays to 356 across Australia. Ampol also reported sturdy balance sheet metrics, even after settling the EG Australia acquisition, with committed liquidity facilities of $5.8 billion and leverage at 1.8 times.
What did Ampol Ltd management say?
Matt Halliday, Managing Director and CEO, commented:
The first half of 2026 was marked by the Middle East conflict and the consequential impact on the flow of oil and refined products around the world, including Australia and New Zealand which were not immune. Against that backdrop, Ampol's primary focus was to secure fuel and minimise the impact to our customers. I could not be more proud of the resilience of our business and the capabilities our people demonstrated during this period.
What's next for Ampol Ltd?
Ampol is expecting ongoing volatility in oil markets due to geopolitical uncertainty, but its physical supply arrangements and recent acquisition of EG Australia are expected to underpin growth. Management is confident in delivering between $65 million and $80 million of annual cost synergies from EG Australia within two years.
The outlook for the second half also includes continued benefits from strong refinery margins, contribution from newly acquired assets, and ongoing investment in the Lytton Ultra Low Sulfur Fuels Project, which is on track to start up later in 2026.
Ampol share price snapshot
The Ampol share price has outperformed the S&P/ASX 200 index (ASX: XJO) over the past 12 months with a gain of 34%, supported by strong earnings momentum and resilient refining operations.
