Vopak reports FY 2023 and Q4 2023 financial results

The Netherlands, 14 February 2024 Vopak reports strong FY 2023 results, announces substantial progress on strategy execution and increases shareholder distribution Key highlights FY 2023ImproveEBITDA in FY2023 increased to EUR 964 million, proportional EBITDA to EUR 1,154 million and operating cash return to 14% Reduced our CO2 footprint by 25% compared to our baseline of 2021 and further improved our safety performanceActively managed our portfolio with strategic divestments...

Rotterdam, 14/02/2024 (informazione.it - comunicati stampa - trasporti)

Vopak reports strong FY 2023 results, announces substantial progress on strategy execution and increases shareholder distribution 

Key highlights FY 2023

Improve

Grow

Accelerate

 

CEO statement

“I am proud to look back on a successful 2023. Our team at Vopak delivered on our strategic priorities and with our well-diversified terminal portfolio, we are supporting the world's need for energy security and the ongoing energy transition. We made good progress on our strategy to improve our financial and sustainability performance. Organic growth across most of the business units led to a healthy proportional occupancy of 91% and EBITDA of EUR 964 million which is a record result for Vopak leading to a 9% year-on-year increase. We were able to also increase the EBITDA margin by 2 percentage points. On safety, our first priority, we further improved our personal safety and maintained a very good process safety performance. 

We successfully completed the divestment of three chemical terminals in Rotterdam, the Netherlands and a chemical distribution terminal in Savannah, United States. We continued to grow our base in industrial and gas terminals with expansion in China, United States, India and the Netherlands. We are progressing well in accelerating towards new energies and sustainable feedstocks, by commissioning repurposed infrastructure as well as expanding the capacity for feedstock for low-carbon transportation fuels.  We made our first investment into electricity storage infrastructure in the United States. Due to our robust financial position and strong portfolio cash generation, we are increasing shareholder distribution by a combination of growing dividends by 15% compared to 2022 and a share buyback program of up to EUR 300 million.”

Financial Highlights for FY 2023 -excluding exceptional items-

Exceptional items in Q4 2023 consist of:

For more information please contact:

Vopak Press: Liesbeth Lans - Manager External Communication, e-mail: global.communication@vopak.com

Vopak Analysts and Investors: Fatjona Topciu - Head of Investor Relations, e-mail: investor.relations@vopak.com

The analysts' presentation will be given via an on-demand audio webcast on Vopak's corporate website, starting at 10:00 AM CET on 14 February 2024.

Auditor's involvement
This press release and enclosure 3 are based on the 2023 financial statements. The financial statements are published in accordance with statutory provisions. The auditor has issued an unqualified auditor's report on the Financial Statements.

This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.

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