Caltex travels to Asia and the U.S. to present international investor road show

Caltex  undertook an international investor road show over May designed to inform and update investors and analysts on how Caltex plans to maintain their market leader position in the Australian convenience store sector, after the upheaval of last years Global Financial Crisis.

Chief Financial Officer, Simon Hepworth and Manager of Investor Relations, Fran van Reyk travelled to Asia and the United States to make the presentation which focused on Caltex’s core strategy elements, Australian market dynamics and looked at their 2010 results and the strategies undertaken to turn them around in 2011. The slides also touched on Caltex's number of convenience store franchises and the dynamics between store ownership. 

Caltex plan on refining improvement initiatives to reap $100M from cost efficiencies, energy efficiencies and reliability by the end of 2012. Progress has already been recorded with the maintenance contract for Lytton and Kurnell awarded to PSN in June 2010, the Lytton Operator EBA agreed upon and the CLOR closure announced.

Further savings have been garnered from the rationalisation of resources across refining and multiple small-scale improvement projects with recurring benefits.

In the first quarter, Caltex were able to record a 5% increase in marketing sales volumes, 17% rise in the sale of finished lubricants and a reduction in the timing lag after tax was accounted.

Despite other impacts negatively affecting profit and growth for the company, factors such as favourable Australian market dynamics, the company’s relationship with Chevron, their location in the Asian region and the support of a strong supply chain, are working favourably for the Caltex.

Growth opportunities exist in downstream industry rationalisation and a strong balance sheet and Caltex is confident of attaining their goals by the end of the financial year.
 
For further information please contact Caltex convenience store franchise.