A message from the CEO: Reflecting on 2020

Powering better journeys, today and tomorrow

In 2020 we commenced the revitalisation of the Ampol brand across our network. Key milestones included the opening of our very first Ampol stores in Sydney in August, the launch of our premium fuels brand, Amplify, and the renaming of our market-leading fuel card brand, AmpolCard. We also celebrated the revitalisation of Ampol with our employees and business customers and announced new sponsorships, including the Ampol State of Origin and Red Bull Ampol Racing.

The new Ampol captures the best of our history and our aspirations for the future - born Australian, world class. We’ve grown to become the nation’s outright leader in transport fuels and over recent years we’ve leveraged our capabilities to step out on the world stage. We are taking this unique opportunity to reinvigorate our customer connection and culture, and I look forward to continuing to engage our customers under the new brand as we continue the rollout across Australia.

Importantly, this year we launched our new company purpose – Powering better journeys, today and tomorrow - which means focusing on delivering sustainable value and growth for our owners, people and customers. Underpinning this purpose is our strategy that is framed by three pillars: enhancing the core of our business; expanding a rejuvenated fuels platform; and evolving our energy offer for customers.

Reaffirming our commitment to communities

As a proud and independent Australian company, we are committed to being a positive contributor in communities and to using our network and employee base to improve the lives of all Australians.

Our revitalisation as Ampol has renewed this focus on communities in 2020. A new partnership with The Smith Family will help improve education and employment opportunities among disadvantaged Australians, and recently we also launched a new partnership with Surf Life Saving Australia, through which we will support Australia’s largest volunteer organisation to deliver safer beaches across the country.

Over the course of the year, I have been proud to see our employees get heavily involved in fundraising. During the bushfires earlier in the year, Ampol collectively raised over $215,000 to support communities, and, on our inaugural Positive Contributor Day in October, I was proud that our retail employees raised over $40,000 for The Smith Family.

COVID-19 and market recovery

Ampol has always been a leader in delivering for customers in times of need and we are proud of the important role we played this year in keeping our customers moving and serving the community as an essential service. In response to COVID-19, we implemented a range of measures to ensure safe and reliable operations for our employees and customers.

Like many businesses, we have been directly impacted by the decline in demand for our products and impacts to key commodity markets. The outlook for demand remains uncertain as we head into 2021, however it is positive that we are starting to see recovery in parts of the economy. Ampol will continue to make decisions that will ensure we can continue to safely and reliably meet the fuel and broader convenience needs of all our customers.

Australian refining and fuel security

Given the challenging operating conditions experienced during 2020, in October we commenced a comprehensive review of the Lytton refinery to determine the best operating model over the medium term.

The review is canvassing all options for the facility’s operations and for the connected supply chains and markets it serves, and will consider all relevant strategic, economic and operational factors, including the recent measures announced by the Australian Government to support refining and bolster fuel security.

We remain confident in Ampol’s ability to continue to meet our customers’ needs through either an import model or ongoing operation of the Lytton refinery. We will continue to engage with government as we work through the review of our refinery operations and we appreciate the Federal Government’s support through COVID-19 and willingness to work with domestic refiners on the challenges we face.

On behalf of the team at Ampol, I wish you and your families a safe and happy holiday period and we look forward to continuing to support you and your business in 2021.

Best wishes,