Vopak profits, occupancy post 2015 rise

26.02.16. Royal Vopak posted EBITDA of €812 million in 2015, an increase of 6 percent on the previous year. EBIT also rose 6 percent to €556 million.
During the year, the group’s worldwide storage capacity increased on a 100 percent basis by 0.5 million cbm to reach 34.3 million cbm.
Among the principal regions, Europe, Middle East & Africa saw average occupancy increase to 93 percent compared with 84 percent in 2014. Asia fell back to 89 percent from 95 percent the previous year, while the Americas region was unchanged at 90 percent.
For the year ahead, Vopak expects 2016 occupancy rates at its global network to exceed 90 percent, supported by its diversified portfolio both geographically and in different product groups (oil, chemicals and gas), healthy contract coverage and strong supply chain.
Chairman and CEO Eelco Hoekstra said the group achieved its financial targets for 2015. However, the personal safety performance levelled off in 2015 and “did not meet our expectation”, he said. “Most tragically, we suffered one fatal accident at our joint venture terminal in Japan. We continued our efforts to improve the effectiveness of safety related controls. Every single incident is one too many and we must continue further strengthening the safety culture at our terminals, focused on zero incidents.”
Observing a gradual pickup in advanced economies and a slowdown in emerging markets and developing countries, Hoekstra said the year was dominated by China’s uncertain growth, increased economic sensitivity to lower commodity prices and heightened geopolitical tensions in certain regions.