Viva Energy posts record first half as convenience retail turns a corner
The Australian company plans to open 20–25 new OTR stores and complete 10–15 conversions from Reddy Express
Viva Energy Group has delivered record first-half earnings, with its convenience and mobility business posting a sharp recovery that the company's new Retail CEO described as a genuine turning point after two years of heavy integration work.
Group EBITDA on a replacement cost basis reached A$774 million ($504m) for the six months to June 30, up 154% year-on-year, while net profit after tax surged 493% to A$371 million ($242m). The convenience and mobility segment contributed A$139 million ($90m) in EBITDA, up 86% from the same period last year, driven by a 2% increase in retail fuel volumes and a 1.3% rise in convenience sales excluding tobacco.
"It's definitely a turning point," CEO Scott Wyatt said, noting that the heavy ERP and supply chain integration work is largely complete. Teresa Rendo, who joined as Retail CEO during the half, added that the business has significant headroom simply by being better retailers — citing a trial where cutting over 800 SKUs at a single site drove double-digit sales growth.
Viva is on track to exit its Coles product supply agreement by November, giving it full control over ranging and private label for the first time. For H2 2026, the company plans to open 20–25 new OTR stores and complete 10–15 conversions from Reddy Express and Liberty formats, at approximately A$300,000 ($195,000) per unattended self-service site.
Tobacco sales fell 16.8% but are now cycling out of the comparison base, and management expects non-tobacco convenience sales to deliver year-on-year growth from the second half onward.
