Koninklijke Vopak NV
AEX:VPK

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Koninklijke Vopak NV
AEX:VPK
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Price: 38.34 EUR -0.05%
Market Cap: 4.4B EUR

Koninklijke Vopak NV
Investor Relations

On the centuries-old docks of Rotterdam in the early 17th century, where mariners once traded spices and goods, a new kind of trade hub emerged that would change the face of modern commerce: Koninklijke Vopak NV. Rooted in a history of logistics and storage solutions, Vopak evolved from its origins when Dutch trader inginuity needed reliable warehousing for volatile cargo. Today, it stands as a quintessential example of strategic positioning in the global supply chain. With well over 400 years of history underpinning its operations, Vopak specializes in the storage and handling of oil, chemicals, gases, and other bulk liquid products essential to the smooth operation of industries worldwide. As complexities in regulations and the movement of volatile substances grew, Vopak honed its capabilities, investing in state-of-the-art technologies, rigorous safety protocols, and strategic locations across the globe—each a vital link in the sprawling networks of international trade.

Vopak's revenue model is as strategic as its operations. Instead of owning the products it stores, Vopak leases its vast network of tanks and terminals to producers and traders, offering them safe and reliable storage options. This asset-heavy model allows the company to generate steady income from long-term contracts, insulating it against the short-term fluctuations of energy and chemical markets. Vopak deliberately situates its terminals in strategically vital ports across six continents, positioning itself at crucial junctions where seaways meet economic powerhouses. The company further diversifies by focusing on renewable and sustainable solutions, responding to global shifts towards cleaner energy sources. Vopak's ability to adapt and integrate into the flow of commerce remains at the heart of its enduring success, allowing it to thrive through centuries of change.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 5, 2025
AI Summary
Q3 2025

Strong Financial Performance: Vopak delivered a record high proportional EBITDA of EUR 902 million for the first 9 months of 2025, with operating cash return well above targets.

Resilient Portfolio & High Occupancy: The proportional occupancy rate remained high at 91% year-to-date, though dipped to 90.3% in Q3 due to temporary contract renewals.

Full-Year Outlook Confirmed: Management reaffirmed full-year proportional EBITDA guidance of EUR 1.17–1.2 billion despite a EUR 30 million negative currency impact.

Growth Investments Accelerating: Proportional growth CapEx is expected to reach around EUR 700 million in 2025, with major projects progressing in Canada, India, Colombia, and China.

Shareholder Returns: Vopak completed EUR 400 million in share buybacks over two years, raised its 2025 dividend by 6.7% to EUR 1.60 per share, and achieved an average shareholder yield of 8.1% over 2024-2025.

Cost Efficiency Focus: Ongoing restructuring and cost-saving initiatives are expected to deliver structural benefits from 2026 onwards.

Stable Leverage: Proportional leverage decreased to 2.56x, at the low end of the target range, providing flexibility for future investments or share buybacks.

Key Financials
Proportional EBITDA
EUR 902 million
Proportional Operating Cash Return
16.2%
Proportional Operating Free Cash Flow per Share
EUR 5.56
Occupancy Rate
91% year-to-date; 90.3% in Q3
Proportional Revenue (Q3)
EUR 467 million
Proportional EBITDA (Q3)
EUR 287 million
Cash Conversion
71.4%
Consolidated Operating Free Cash Flow
EUR 557 million
Consolidated Operating Free Cash Flow per Share
EUR 4.82
Free Cash Flow
EUR 618 million
Proportional Growth CapEx
EUR 447 million year-to-date; expected EUR 700 million for 2025
Dividend per Share
EUR 1.60
Share Buybacks
EUR 400 million over two years
Proportional Leverage
2.56x
Proportional Leverage (excl. assets under construction)
2.12x
Shareholder Yield
8.1% over 2024-2025
Earnings Call Recording
Other Earnings Calls

Management

Mr. D. J. M. Richelle
CEO & Chairman of the Executive Board
No Bio Available
Mr. Michiel E. G. Gilsing
CFO & Member of the Executive Board
No Bio Available
Mr. Jan Bert Schutrops
Global Director of Operations & Technology
No Bio Available
Fatjona Topciu
Head of Investor Relations
No Bio Available
Mr. Peter Paul Smid
Global Director of Legal Affairs & Corporate Secretary
No Bio Available
Ms. Karen Beuk
Global Director of Communication
No Bio Available
Edwin Taal
Global Director of Human Resources
No Bio Available
Mr. Kees Van Seventer
President of LNG
No Bio Available
Mr. Patrick Van Der Voort
President of Vopak Europe & Africa
No Bio Available
Mr. Yan Chen
President of Vopak China & North Asia
No Bio Available

Contacts

Address
ZUID-HOLLAND
Rotterdam
Westerlaan 10
Contacts
+31104002911.0
www.vopak.com