Caltex investors back Ampol rebirth

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 15-May-20

Some 99.8 per cent of Caltex Australia’s shareholders have supported a resolution to change its name to Ampol. The company aims to complete the rebranding of its petrol stations by the end of 2022. Caltex’s interim CEO Matt Halliday has noted the impact of coronavirus-induced travel restrictions; he says that convenience retail fuel volumes fell 16 per cent year-on-year in the 12 months to April, while demand for jet fuel has fallen by up to 90 per cent. Caltex is still looking to sell a 49 per cent stake in a portfolio of petrol stations, via an IPO or a trade sale.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX

Caltex dusts off Ampol brand

Original article by Nick Evans
The Australian – Page: 13 : 24-Dec-19

Caltex Australia will relaunch the Ampol fuel brand after US-based Chevron Corporation advised that its licence to use the Caltex brand will be terminated. Caltex will have three years to complete the rebranding of its petrol stations, with the process slated to begin within six months. The Ampol brand was established in 1936, but it was phased out when the company merged with Caltex in 1995. Chevron recently acquired fuel retailer Puma Energy Australia for $425m.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, CHEVRON CORPORATION, AMPOL LIMITED, PUMA ENERGY (AUSTRALIA) HOLDINGS PTY LTD

Woolies to return $1.7b to shareholders

Original article by Sue Mitchell
The Australian Financial Review – Page: 16 : 13-Nov-18

Shaun Cousins of JP Morgan estimates that the sale of Woolworths’ fuel retailing business will reduce earnings per share by 7.4 per cent in 2020 and 8.1 per cent in 2021. However, the impact on EPS would be lower if Woolworths opts to return the proceeds of the sale to shareholders via a buyback. Woolworths is widely tipped to return most of the sale proceeds to investors, having initially flagged its intention to use some of the funds to reduce to debt and finance store refurbishments.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, JP MORGAN AUSTRALIA LIMITED, EG GROUP, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, BP PLC, CITIGROUP PTY LTD, BIG W DISCOUNT STORES, AUSTRALIAN LEISURE AND HOSPITALITY GROUP LIMITED, ENDEAVOUR DRINKS

Woolworths, Caltex in food-fuel deal with $2bn IPO on the cards

Original article by Eli Greenblat
The Australian – Page: 19 & 31 : 6-Jul-18

Grocery giant Woolworths will expand its existing alliance with fuel retailer Caltex Australia. The deal includes a 15-year wholesale fuel supply agreement, the extension of Woolworths’ customer loyalty program to more than 700 Caltex petrol station and the rebranding of up to 250 Caltex outlets under Woolworths’ Metro banner. Woolworths CEO Brad Banducci says the petrol station joint venture could ultimately be spun off, potentially within the next 12 months.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, CALTEX AUSTRALIA LIMITED – ASX CTX, BP AUSTRALIA LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, 7-ELEVEN STORES PTY LTD, DEUTSCHE BANK AG

Caltex franchisee fined over false pay records

Original article by Anna Patty
The Sydney Morning Herald – Page: 24 : 28-Jun-18

The Federal Circuit Court has ordered former Caltex petrol station franchise operator Aulion to pay fines totalling $A80,190 for falsifying its employees’ wage records. The franchise’s owner Peter Dagher in turn has been fined $A16,038. The service station at Five Docks in Sydney is one of 15 that were investigated by the Fair Work Ombudsman over concerns about wage exploitation. The penalties for non-compliance have been significantly increased since 2016, when the breaches in question occurred.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, AULION PTY LTD, AUSTRALIA. FAIR WORK OMBUDSMAN, FEDERAL CIRCUIT COURT OF AUSTRALIA

Caltex tips profit rise despite downturn

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 13-Jun-18

Caltex Australia has advised that its 2018 interim net profit is expected to be within the range of $A295m to $A315m, compared with $A294m previously. Caltex has also forecast that its fuels and infrastructure division will post half-year EBIT growth of nine per cent. However, its convenience retail division’s EBIT is expected to be 17 per cent lower than previously. This has been attributed to factors such as lower fuel margins and costs associated with dismantling its franchise model.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, SEAOIL, WOOLWORTHS GROUP LIMITED – ASX WOW, GULL PETROLEUM (NZ) LIMITED

Fair Work slams Caltex franchise model

Original article by Adele Ferguson
The Australian Financial Review – Page: 13 & 18 : 5-Mar-18

Service station operator Caltex Australia advised in the week ending 2 March that it will abandon the franchise model for its outlets. Its announcement preceded a rather damning report into its franchise model by the Fair Work Ombudsman, with an audit finding that 76 per cent of franchised Caltex stores it examined were exploiting their staff. Fair Work Ombudsman Natalie James says that in light of its report, she is not surprised by Caltex’s decision to exit franchising.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, AUSTRALIA. FAIR WORK OMBUDSMAN, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, 7-ELEVEN STORES PTY LTD, RETAIL FOOD GROUP LIMITED – ASX RFG, PIZZA HUT AUSTRALIA, UNITED PETROLEUM PTY LTD

Failed BP deal won’t hit Woolworths’ refit plans

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 15-Dec-17

The Australian Competition & Consumer Commission has blocked the sale of Woolworths’ fuel business to BP on the grounds that it would likely push up petrol prices and reduce competition. Woolworths CEO Brad Banducci said he was disappointed by the ACCC’s decision. Woolworths was due to receive $A1.8 billion if the transaction had gone ahead, with some of the funds expected to be used on an upgrade of Woolworths’ supermarkets. Banducci said the ACCC’s decision should not impact on any refurbishment program.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, BP AUSTRALIA LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UBS HOLDINGS PTY LTD, SHERPA, YELLO, COLES SUPERMARKETS AUSTRALIA PTY LTD, AIRTASKER PTY LTD, AMAZON.COM INCORPORATED

Fuel industry on notice over underpayment

Original article by Anna Patty
The Age – Page: 15 : 14-Sep-17

Fair Work Ombudsman Natalie James has signalled that petrol retailers will attract further scrutiny over wage exploitation concerns. James will single out Caltex Australia in a speech on 14 September, noting that unlike 7-Eleven it has not worked with the FWO in establishing a compensation fund for underpaid employees. James adds that the FWO will issue a compliance report on Caltex in coming months, and notes that Fair Work inspectors have found similar issues to those that emerged at 7-Eleven.

CORPORATES
AUSTRALIA. FAIR WORK OMBUDSMAN, CALTEX AUSTRALIA LIMITED – ASX CTX, 7-ELEVEN STORES PTY LTD

BP issues price vow in bid to win Woolies deal

Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 11-Aug-17

The Australian Competition & Consumer Commission is concerned that BP is not as competitive as Woolworths when it comes to fuel pricing. The ACCC is considering BP’s proposed $A1.8 billion purchase of Woolworth’s petrol stations, which was announced at the end of 2016. If the deal goes ahead, it would make BP the largest fuel retailer and wholesaler in Australia. BP Australia president Andy Holmes says it is keen to work with the ACCC to address any concerns it may have about the transaction.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, BP AUSTRALIA LIMITED, WOOLWORTHS LIMITED – ASX WOW