Vopak has reported improved financial results for Q1 2015, compared with the same period last year. The improvement was mainly driven by higher demand in the oil market, growth in storage capacity and favourable currency effects, said Eelco Hoekstra, chairman of the executive board and CEO. “We were able to increase the overall occupancy rates while expanding our worldwide storage capacity to 34 million cbm,” said Hoekstra. “The higher occupancy rate in Europe was partially offset by lower occupancy rates in Asia and Americas due to the slowdown in economic growth and to a dynamic and volatile spot market in Asia.”
EBITDA increased by 15 percent to €206 million (Q1 2014: €180 million), of which €14.2 million resulted from favourable currency effects.
In line with its previous outlook and based on current market insights, Vopak expects to achieve an EBITDA – excluding exceptional items – of more than €768 million in 2015.