|Q2 2018||Q1 2018||Q2 2017||Q2-Q2||In EUR millions||HY1 2018||HY1 2017|
|309.9||316.2||327.5||- 5%||Revenues||626.1||669.3||- 6%|
|Results -excluding exceptional items-|
|180.7||190.2||191.0||- 5%||Group operating profit before depreciation and amortization (EBITDA)||370.9||394.1||- 6%|
|113.8||122.9||122.7||- 7%||Group operating profit (EBIT)||236.7||258.1||- 8%|
|67.2||73.0||73.9||- 9%||Net profit attributable to holders of ordinary shares||140.2||150.4||- 7%|
|0.53||0.57||0.58||- 9%||Earnings per ordinary share (in EUR)||1.10||1.18||- 7%|
|Results -including exceptional items-|
|176.9||190.2||188.9||- 6%||Group operating profit before depreciation and amortization (EBITDA)||367.1||392.0||- 6%|
|110.0||122.9||120.6||- 9%||Group operating profit (EBIT)||232.9||256.0||- 9%|
|64.4||73.0||72.3||- 11%||Net profit attributable to holders of ordinary shares||137.4||148.8||- 8%|
|0.51||0.57||0.57||- 11%||Earnings per ordinary share (in EUR)||1.08||1.17||- 8%|
|Cash flows from operating activities (gross)||341.0||321.0||6%|
|85%||87%||90%||- 5pp||Occupancy rate subsidiaries||86%||91%||- 5pp|
|36.0||35.9||35.9||Storage capacity end of period (in million cbm)||36.0||35.9|
|2.18||1.99||2.20||Senior net debt : EBITDA||2.18||2.20|
|11.5%||12.3%||11.9%||- 0.4pp||Return on Capital Employed (ROCE)||11.9%||12.3%||- 0.4pp|
|9.0%||9.5%||9.5%||- 0.5pp||Cash Flow Return On Gross Assets (CFROGA)||9.2%||9.7%||- 0.5pp|
Highlights for HY1 2018 -excluding exceptional items-:
Exceptional items HY1 2018:
Royal Vopak Chief Executive Officer Eelco Hoekstra comments:
Vopak performance and strategy on track;
2018 remains difficult market, but provides opportunities.
"Given the market conditions to date, the results delivered are satisfactory. The execution of our strategy towards 2019 is very well on track and we increased our cost savings target for 2019.
We have successfully gone live with our new digital terminal management system in Long Beach and Los Angeles marking the start of our global roll out.
I see the shift in our portfolio of terminals with construction progressing and new projects being announced.
In our oil hub terminals the priority was to invest for the IMO 2020 bunker fuel regulations. Our terminals in Fujairah, Rotterdam, and Singapore will be fully ready to support new market requirements. Today we announce our investment plans for Rotterdam which are supported by customer commitments as of mid 2019.
In Saudi Arabia, together with our partners, we commissioned the last part of the industrial terminal Chemtank. The construction of our new industrial terminal in Pengerang is progressing well and first commissioning will take place end of 2018.
Our business development efforts in gas terminals have seen excellent progress. We announced the entrance in the growing LNG market in Pakistan, and the signing of two new joint ventures to develop LNG terminals in Germany and China.
We have made substantial progress in strengthening our chemical storage position globally. We have announced expansions in Houston and Rotterdam. Today we announce that we will invest in a new jetty in Antwerp, commence a major service improvement project in Penjuru, Singapore, and expand our terminal in Merak, Indonesia.
In total, we currently have more than 3 million cbm under construction. We find this the natural moment for a strategic review and test the market value of our terminals in Algeciras, Amsterdam, Hamburg and Tallinn. This review is fully in line with the focus on growing our portfolio with the four strategic terminal types (major hubs, gas & LNG, industrial terminals, distribution in major markets).
In the second half of the year, we will maintain our focus on both short-term performance and long-term value creation for all stakeholders and seize opportunities that are being created in today`s market. This enables us to continue storing vital products with care."
The analyst` presentation will be given via an on-demand audio webcast on Vopak`s corporate website www.vopak.com, starting at 9:30 am CEST on 17 August 2018.
For more information please contact:
Vopak Press: Liesbeth Lans - Manager External Communication,
Telephone: +31 (0)10 400 2777 | e-mail: firstname.lastname@example.org
Vopak Analysts and Investors: Laurens de Graaf - Head of Investor Relations,
Telephone: +31 (0)10 400 2776 | e-mail: email@example.com
Profile Royal Vopak
Royal Vopak is the world`s leading independent tank storage company. Vopak operates a global network of terminals located at strategic locations along major trade routes. With over 400 years of history and a strong focus on safety and sustainability, Vopak ensures safe, efficient and clean storage and handling of bulk liquid products and gases for our customers. By doing so, Vopak enables the delivery of products that are vital to our economy and daily lives, ranging from oil, chemicals, gases and LNG to biofuels and vegoils. Vopak is listed on the Euronext Amsterdam stock exchange and is headquartered in Rotterdam, the Netherlands. Including our joint ventures and associates, Vopak employs an international workforce of over 5,700 people. As of 17 August 2018, Vopak operates 66 terminals in 25 countries with a combined storage capacity of 36.0 million cbm, with another 3.3 million cbm under development.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.