Royal Vopak has delivered robust financial performance in the first half of 2025, driven by the resilience of its global storage terminal portfolio and successful strategic initiatives. The Dutch energy storage company reported a significant 58 percent year-on-year increase in net profit to EUR 319 million, with earnings per share rising to EUR 2.74 compared to EUR 1.73 in the same period last year.
The company’s proportional EBITDA, excluding exceptional items, reached EUR 615 million in the first half of 2025, representing a 3 percent increase from the previous year despite negative currency translation effects. This performance was supported by stable demand for storage infrastructure across different geographies and markets, with gas and industrial terminals showing particularly strong performance underpinned by long-term contracts and higher throughputs.
A major highlight during the period was the successful public listing of Vopak’s Indian joint venture AVTL on Indian stock exchanges, which generated an exceptional gain of EUR 111 million. The rights issue reduced Vopak’s shareholding from 47.31 percent to 42.23 percent while unlocking value and providing funds for future growth initiatives, including the development of India’s first independent ammonia storage terminal.
Vopak maintained high occupancy rates at 92 percent across its proportional storage capacity, reflecting continued strong demand for infrastructure services. The company’s proportional storage capacity reached 20.4 million cubic meters by the end of the second quarter, with total storage capacity across all terminals standing at 35.8 million cubic meters.
The company successfully completed its EUR 100 million share buyback program in July 2025, repurchasing 2,551,949 ordinary shares at an average price of EUR 39.19 per share. This represented 2.17 percent of the company’s outstanding shares and contributed to the improved earnings per share performance.
Strategic growth initiatives progressed well during the first half, including the ongoing construction of an LPG terminal in Canada and expansion of the RIPET terminal infrastructure. In India, Vopak commissioned multiple capacity expansions totaling 260,000 cubic meters of LPG capacity in Mangalore and Pipavav. The company also took an investment decision to expand its PT2SB terminal in Malaysia by 272,000 cubic meters to accommodate biofuel storage.
Looking ahead, Vopak is advancing several energy transition projects, including entering the FEED phase for an ammonia terminal at Vopak Energy Park Antwerp and signing a joint development agreement with IHI Corporation to establish an ammonia terminal joint venture in Japan. These initiatives position the company to capitalize on the growing demand for alternative energy infrastructure.
Based on the strong first-half performance and the resilience demonstrated by its portfolio amid global tensions and geopolitical uncertainties, Vopak has increased its full-year 2025 outlook. The company expects the improved performance to offset approximately EUR 30 million of negative currency translation effects anticipated for the full year.
The results demonstrate Vopak’s successful execution of its strategy to grow its gas, industrial, and energy transition infrastructure portfolio while maintaining operational excellence across its global network of 78 terminals spanning multiple continents.
For more information visit www.vopak.com
