Due to the positive performance continuing in Q4, the Vivo Energy Board has recommended a final dividend of 3.8 cents per share ($48 million) in respect of 2020. This is in line with stated progressive dividend policy and equal to the proposed 2019 full year dividend of 3.8 cents, despite the impacts of COVID-19 on the business during the year. If approved at the AGM, the final dividend will be paid to shareholders on 25 June 2021.
Other financial highlights include:
Sales volume fell by 7% due to the impact of COVID-19 on mobility in our markets
Revenue was down 17%, reflecting the lower volumes sold and the lower crude oil price environment
Gross profit fell 9% to $617 million
Gross cash unit margin rose to $72/'000 litres due to positive pricing and mix effects in H2
Strong rebound in the second half drove H2 Adjusted EBITDA of $220 million, slightly ahead of H2 2019, leading to both full year Adjusted EBITDA and EBITDA of $360 million
Net income was down 40% to $90 million, impacted by negative operating leverage due to lower volumes
Diluted EPS of 6 cents and Basic headline EPS of 6 cents, were both 45% below 2019
