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Vopak reports strong growth in latest financial report

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Vopak has reported improved EBITDA of €227 million in the third quarter of this year and it has raised its full-year outlook to around €890 million.
Its improved financial performance has been supported by business conditions and currency gains. This year's outlook for EBITDA and proportional operating cash return has increased, Vopak reported.
Vopak has grown its footprint in industrial terminals in China and increased send-out capacity in its Gate LNG terminal in Rotterdam.
The company has also been accelerating in new energies by repurposing oil capacity in Los Angeles to sustainable aviation fuel and renewable diesel and taking a share in the electricity storage company Elestor.
Royal Vopak CEO Dick Richelle, commented on the results: “Our strong third quarter performance demonstrates that our well diversified infrastructure portfolio uniquely positions Vopak to serve our customers amidst highly uncertain times.
"The deployment of growth capex towards our strategic priorities is going well, with growth in industrial and gas terminals and acceleration towards new energies. Our improved financial performance and solid strategy execution allows us to update our outlook for this financial year by increasing our expectation for EBITDA and proportional operating cash return.”