The Vivo Energy Board has approved an interim dividend of 1.7 US cents per share amounting to approximately $21.5 million. This is in line with the Group's progressive dividend policy that was enhanced at the 2020 full year results. The interim dividend is expected to be paid on 10 September 2021. Due to the pandemic, the Group did not declare an interim dividend in respect of H1 2020, but declared a final dividend in respect of the full twelve months of 2020.
Other financial highlights include:
Revenues increased by 18% to $3,989 million (H1 2020: $3,375 million)
Gross cash profit was higher at $385 million (H1 2020: $300 million) as both volumes and unit margins rebounded from the initial impacts of COVID-19 lockdowns in H1 2020
Volumes sold rose 8%, as mobility restrictions eased compared to H1 2020
Gross cash unit margin of $77 per thousand litres (H1 2020: $65), remained strong
Adjusted EBITDA was $220 million, 57% higher than H1 2020, with EBITDA of $219 million
Net income increased to $76 million (H1 2020: $13 million)
Adjusted diluted EPS and basic headline EPS were both 6 US cents
Net debt / adjusted EBITDA ratio decreased to 0.77x at 30 June 2021 (FY 2020: 0.86x)
