Rotterdam, The Netherlands, 9 March 2007
- Group operating profit excluding exceptional items is in line with earlier provided outlook
- All divisions contributed to the improvement of Group operating profit
- Net profit benefited from the release of a tax provision of EUR 10.4 million
- Global storage capacity increased by 783,300 cbm to over 21 million cbm gross capacity in 2006
- Proposed dividend of EUR 0.75 per ordinary share, in cash (2005: EUR 0.60)
Short-term outlook:
- Vopak will globally add more than 1.7 million cbm in storage capacity during 2007 and 2008
- Vopak expects total capital expenditures between EUR 450 million and EUR 550 million in 2007, including expenditures for maintenance, safety and environment
- Barring unforeseen circumstances, Vopak expects to realise a Group operating profit excluding exceptional items of at least 10% higher in 2007
Long-term guidance:
- Vopak is increasing its long-term guidance and aiming for a yearly Group operating profit before depreciation and amortisation (EBITDA) of between EUR 475 million and EUR 550 million in five years’ time (was between EUR 275-350 million)
- The strategic long-term target for Return On Capital Employed remains unchanged at around 16% for the Group as a whole
John Paul Broeders, Chairman of the Executive Board of Royal Vopak:
“2006 was an inspiring year. We worked very hard and – as a result – made considerable progress with our Excellence & Growth strategy. Profit rose over 20% by constantly improving our business operationally and commercially and by commissioning new capacity. We have many new projects, which means we are at the beginning of a challenging growth path. Our portfolio is well-balanced and the ‘pipeline’ is filled with potential projects. We cooperate closely with our clients and keep abreast of global market changes, enabling us to seize opportunities more effectively. I am confident about the future and expect the results to improve further in the years ahead."