Z Energy Half Year Report 30 June 2024

Z Energy (NZX: ZEL) today announced its earnings for the 6 months to 30 June 2024. Historical cost net profit after tax (HC NPAT) was $70m for the 6 months to 30 June 2024. Z reports its earnings on an historic cost (HC) as well as replacement cost (RC) basis. Statutory financial statements are reported on an HC basis in accordance with NZ IFRS, however replacement cost accounting is the globally used non-GAAP industry standard to measure financial performance. On an underlying RC basis, Z benefitted from the diversification of channels to market and Ampol integrated supply chain. Total fuel sales were down 3.8% on a like-for-like basis after adjusting for the exit and sale of the bitumen and avgas businesses during 2023. Z has continued to execute on its energy transition strategy, with the on-the-go EV charging network reaching 128 bays across 44 sites as at 30 June 2024.