Sharechat Logo

Z Energy Limited (NZX: ZEL) Updates FY21 Guidance and February Monthly Volume

Thursday 11th March 2021

Text too small?

Z Energy today announced that it expects its FY21 RC EBITDAF to be in a range between $235m to $245m (previous guidance range was $235m to $265m).

Current trading conditions

Z continues to experience the effects of COVID from the two recent lockdowns, the loss of international tourists in its retail channel and reduced volume in Jet, as well as the enduring and ongoing effects of lower refining margins.

Intense retail competition has continued, while crude prices have increased substantially in a short period of time, compressing margins. Oil prices have risen on the expectation of a post-COVID global economic recovery and vaccination roll-out, with the Brent indicator having increased by over 75% in the 120 days since the beginning of November 2020.

Z’s Chief Executive Mike Bennetts said, “The past year has been focussed on our core business as Z and the country bounced back from the worst effects of COVID. Markets, like Jet, have yet to recover from COVID and the most recent lockdowns have also reduced volume across Z’s retail networks, especially in Auckland.

The business has focused on executing our four point improvement plan, in particular we remain on track to deliver $48m of structural cost reductions”.

Please see the link below for details:

Z Energy guidance update and monthly volume data

Source: Z Energy Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZME Limited (NZX: NZM) NZ Markets Disciplinary Tribunal Censures
Rua Bioscience Limited (NZX: RUA) Announces CCO with Global Pharma Experience
Cannasouth Limited (NZX: CBD) Supply Activity Added to Cannasouth Commercial Licence
Skellerup Holdings Limited (NZX: SKL) Upgrades FY21 Earnings Guidance
Napier Port Holdings Limited (NZX: NPH) 2021 Earnings Guidance Update
Comvita Limited (NZX: CVT) Full Year Guidance Update
Scott Technology Limited (NZX: SCT) Meat Industry Contract Win
PaySauce Limited (NZX: PYS) Quarterly Market Update
NZ Windfarms Limited (NZX: NWF) Agrees a New VVFPA for Q1 2022 to Q3 2022
Harmoney Corp Limited (NZX: HMY) 3Q21 Trading Update