Vopak shares jump as share buyback plan mitigates cautious 2024 guidance

Koninklijke Vopak NV

14/02/2024 08:35

** Shares in Vopak  VOPA.AS  jump more than 9% after the
Dutch tank storage firm set its 2024 targets after reporting a
9% core profit growth last year and announced new share buyback 
    ** Excluding exceptional items, Vopak sees 2024 consolidated
EBITDA in the range of 880 million euros and 920 million euros 
($941.34 million and $984.12 million), and a proportional EBITDA
of between 1,120 and 1,170 million euros
    ** This "cautious" guidance of EBITDA in the range of 880
million and 920 million euros was mitigated by a 300 million
euros share buyback, Jefferies says in a note
    ** Share is on track for a best day in more than a year,
when it closed 15.3 % higher


($1 = 0.9348 euros)

 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@tr.com))