Vopak reports strong Q1 2024 results and increases FY 2024 outlook

The Netherlands, 24 April 2024 Vopak reports strong Q1 2024 results and increases FY 2024 outlookKey highlights Q1 2024ImproveIncreased net profit -including exceptional items 1 - in Q1 2024 to EUR 106 million, an improvement of 3% year-on-year, driven by favorable storage demand across different geographies and marketsIncreased proportional EBITDA -excluding exceptional items 1 - in Q1 2024 to EUR 298 million, an improvement of 9% year-on-year when adjusted for divestment...

Rotterdam, 24/04/2024 (informazione.it - comunicati stampa - trasporti)

Vopak reports strong Q1 2024 results and increases FY 2024 outlook

Key highlights Q1 2024

Improve

Grow

Accelerate

No exceptional items were recorded in Q1 2024 and Q1 2023
See enclosure 2 of the press release for reconciliation to the most directly comparable subtotal or total specified by IFRS Accounting Standards 

CEO statement

“In the first quarter of 2024, we continued to deliver on our strategy to improve our financial and sustainability performance, to grow our business in industrial and gas terminals, and to accelerate towards new energies and sustainable feedstocks. The demand for our infrastructure services remained robust, resulting in an increased proportional occupancy of 93%. Oil and gas markets were strong, driven by a higher demand for energy, and rerouting of supply chains. Chemical markets remain under pressure, having a limited impact on our chemical distribution terminals so far, while industrial terminals maintained solid results, backed by long-term take-or-pay contracts. We continue to grow our footprint in India and acquired a new terminal in Mangalore. Our strong performance and strategy execution coupled with favorable market conditions positions us well to revise our outlook for FY 2024 upwards. We are committed to grow our business in industrial and gas infrastructure and accelerate towards new energies and sustainable feedstocks.”

Financial Highlights for Q1 2024 

IFRS Measures -including exceptional items-

Alternative performance measures -excluding exceptional items-

Business KPIs

Financial KPIs

For more information please contact:

Vopak Press: Liesbeth Lans - Manager External Communication, e-mail: global.communication@vopak.com
Vopak Analysts and Investors: Fatjona Topciu - Head of Investor Relations, e-mail: investor.relations@vopak.com

The analysts' presentation will be given via an on-demand audio webcast on Vopak's corporate website , starting at 08:45 AM CEST on 24 April 2024.

This press release contains inside information as meant in clause 7 of the Market Abuse Regulation. The content of this report has not been audited or reviewed by an external auditor.

1.  To supplement Vopak's financial information presented in accordance with IFRS, management periodically uses certain alternative performance measures to clarify and enhance understanding of past performance and future outlook. For further information please refer to page 7of the press release.

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