March 09, 2020 [Petrol Plaza] – Puma Energy has achieved full year earnings before tax (EBITDA) of US$530 million in line with the company’s expectations.
Some $10 million of the operational improvements were gained during the fourth quarter, demonstrating improving momentum. Operating cash flow for the full year was $629 million, demonstrating robust EBITDA to cash conversion.
During 2019 Puma Energy sold its Paraguay and Australian fuels businesses. The sale of the Paraguay assets closed at the end of January 2020 and the sale of the Australian fuels business is on track for completion at the end of the second quarter 2020. The proceeds will be used to pay down Puma Energy’s debt.
After improving its financial situation Puma Energy will accelerate the execution of its strategy in pursuit of sustainable and profitable growth.
“Now our focus is on accelerating the execution of our strategy, optimising our portfolio to reduce complexity and risk, leading to sustainable profitable growth,” said Emma FitzGerald, CEO.
Puma Energy has around 3,000 retail sites, a presence at over 80 airports and a network of 100 storage terminals.
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