Vopak delivered a strong performance in FY 2024, achieving record proportional EBITDA, maintaining high occupancy rates, and making significant progress in growth and sustainability initiatives.

Financial Performance & Shareholder Returns

  • Net profit, including exceptional items, reached EUR 376 million, with earnings per share (EPS) of EUR 3.12.
  • Proportional EBITDA, excluding exceptional items, increased to a record EUR 1,170 million, reflecting strong infrastructure demand and growth project contributions.
  • A EUR 300 million share buyback program was successfully completed, and a new EUR 100 million buyback program will commence on 20 February 2025.
  • A dividend of EUR 1.60 per share has been proposed, representing a 6.7 percent increase compared to 2023.

 

Growth & Expansion

  • Key gas infrastructure expansions progressed in Canada, India, and the Netherlands, alongside industrial expansions in China and Saudi Arabia.
  • The EemsEnergyTerminal launched an open season for LNG storage and regasification services beyond 2027.

 

Sustainability & Energy Transition

  • Advancements in new energies included repurposing capacity in Singapore, Brazil, and the Netherlands, alongside investments in battery energy storage in the US and the Netherlands.
  • EUR 15 million was committed to further developing infrastructure for waste-based feedstocks at the Vlaardingen terminal in the Netherlands.
  • Greenhouse gas emissions (Scope 1 & 2) were reduced from 254,000 metric tonnes in 2023 to 209,000 metric tonnes in 2024.

 

Operational & Market Performance

  • Proportional occupancy rates increased to 93 percent, reflecting strong demand across key markets.
  • Storage demand remained stable despite challenges in the chemical sector, with oil hub locations benefitting from global trade flow shifts.
  • Proportional operating cash return improved to 15.1 percent, supported by robust cash generation and disciplined capital allocation.

 

CEO Statement

Vopak’s CEO expressed pride in the company’s achievements, highlighting strong business performance, strategic expansion, and commitment to sustainability. With continued investment in infrastructure, energy transition, and shareholder returns, Vopak remains well-positioned for long-term growth. Further insights will be shared during the Capital Markets Day on 13 March 2025.

For more information visit www.vopak.com

19th February 2025