Vopak's annual earnings exceed its guidance range (updated)

Koninklijke Vopak NV

19/02/2025 06:35

(Adds quote in paragraph 2, outlook, sales and shareholder
returns in paragraphs 4-6)
       Feb 19 (Reuters) - Dutch tank storage company Vopak
 VOPA.AS  reported 2024 core earnings above its previously
guided range on Wednesday, driven by strong demand for
infrastructure services across most of its business units.
    "Gas terminals performance showed firm throughput levels,
backed by growing energy demand and energy security
considerations around the globe," Vopak said in a press release.
    Its proportional earnings before interest, taxes,
depreciation and amortisation (EBITDA) rose 9% to 1.17 billion
euros ($1.22 billion), while the top end of its annual guidance
stood at 950 million euros.
    The company, which operates terminals and storage facilities
worldwide, said it expected the proportional core profit to land
between 1.15 billion to 1.20 billion euros this year.
    Annual sales rose 4% to 1.32 billion euros, just below
analysts' average forecast of 1.33 billion euros in an LSEG
poll. 
    Vopak also said it would launch a share buyback programme of
up to 100 million euros on Thursday, to run until the end of
2025, and propose a dividend of 1.60 euros per share, citing
strong cash generation.
($1 = 0.9561 euros)

 (Reporting by Alban Kacher and Anna Peverieri in Gdansk;
Editing by Milla Nissi)
 ((alban.kacher@thomsonreuters.com; +48 58 769 65 87;))