Dutch tank storage Vopak falls after Q4 profit drop, 'cautious' 2025 outlook

Koninklijke Vopak NV

19/02/2025 09:57

** Shares in Vopak  VOPA.AS  fall nearly 7% after the Dutch
tank storage company reported a drop in quarterly profits and a
2025 guidance that ING analysts see as "cautious"
    ** Vopak expects its 2025 proportional EBITDA to land in the
range of 1.15 billion euros-1.20 billion euros ($1.20
billion-1.25 billion), broadly at last year's level
    ** Vopak's Q4 EBITDA declines by 6% y/y to 214.2 million
euros
    ** ING and Jefferies point to one-off costs like FX
revaluation impact on the group's Malaysian interests, and a 58
million euros impairment charge for its Mexican Veracruz
terminal due to policy change
    ** Vopak also launches a share buyback programme of 100
million euros for 2025, which ING sees as "not helpful for an
energy firm which might need a lot of money for the energy
transition"

($1 = 0.9578 euros)

 (Reporting by Anna Peverieri and Alban Kacher)
 ((Anna.peverieri@thomsonreuters.com))