Vopak posts decline in Q1 profit

Wed 18 Apr 2018, 11:41 GMT

Vopak posts decline in Q1 profit

Key net profit, EBIT and EBITDA indicators show YoY drop as revenue falls 7 percent.

Vopak storage tank, pictured on September 17, 2013.

Image credit: Flickr

Storage terminal operator Royal Vopak on Wednesday confirmed that net profit attributable to owners of ordinary shares decreased year-on-year (YoY) by EUR 3.5m, or 5 percent, to EUR 73.0m in the first quarter (Q1) of 2018.

Earnings before interest and taxes (EBIT) fell by 9 percent to EUR 122.9m, down from EUR 135.4m in Q1 2017.

Operating profit before depreciation and amortization (EBITDA) declined YoY by 6 percent to EUR 190.2m.

Revenue in Q1 was 316.2m - a drop of 7 percent compared to the previous year.

Vopak's worldwide storage capacity increased by 0.2m cubic metres (cbm), or 1 percent, to 35.9m cbm.

Upon completion, projects currently under development are set to add 3.1m cbm of storage capacity to the firm's global network by 2019.

Vopak


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