Koninklijke Vopak N.V.

Latest Results (26.12.2024):

Revenue Growth

In the fourth quarter of 2023, Koninklijke Vopak N.V. reported a revenue increase to EUR 1,426 million, up from EUR 1,367 million in the same period of the previous year. This growth was driven by favorable storage demand across all markets, which offset the negative impacts of divestments and currency translation effects. Proportional revenue also saw an increase, reaching EUR 1,942 million compared to EUR 1,857 million in FY 2022.

EBITDA Performance

Koninklijke Vopak N.V. achieved an EBITDA of EUR 964 million for FY 2023, marking a 9% year-on-year increase from EUR 887 million in FY 2022. This improvement was attributed to strong storage demand and stable costs, despite the divestment impact and unfavorable currency translation effects. The proportional EBITDA also rose by 8% to EUR 1,154 million, with a margin improvement to 56% from 54% in the previous year.

Net Profit and Earnings Per Share

The net profit attributable to holders of ordinary shares for FY 2023 was EUR 412.9 million, a significant increase from EUR 294.4 million in FY 2022. Earnings per ordinary share also rose to EUR 3.29, up from EUR 2.35 in the previous year, reflecting the company's strong financial performance and strategic execution.

Dividend and Shareholder Returns

Koninklijke Vopak N.V. announced a dividend of EUR 1.50 per share for FY 2023, representing a 15% increase compared to 2022. Additionally, the company plans to return up to EUR 300 million to shareholders through a share buyback program, highlighting its commitment to enhancing shareholder value.

Strategic Investments and Outlook

During FY 2023, Koninklijke Vopak N.V. made significant strategic investments, including expanding its LNG capacity in the Netherlands and strengthening its industrial terminal positions in Singapore, China, and the United States. The company also entered the electricity storage sector in the U.S., with operations expected to commence in 2024, positioning itself for future growth in sustainable energy solutions.