Latest news with #DickRichelle
Business Recorder
02-06-2025
- Business
- Business Recorder
Vopak's Indian JV starts trading on Mumbai stock exchanges
Dutch tank storage group Vopak said on Monday its Indian joint venture, Aegis Vopak Terminals, started trading after completing its initial public offering. The issue price for the IPO was 235 rupees ($2.75) per share, at the top end of the previously announced price range, the group said. The shares were trading at 238.89 rupees around 0539 GMT. The offering 'strongly supports Vopak's strategy of expanding our portfolio of gas and industrial terminals,' group CEO Dick Richelle said. The transaction will result in an exceptional dilution gain of around 110 million euros ($125.09 million) to be recorded by Vopak in the second quarter, the company said. Vopak has terminals in seven Indian ports and expects to benefit from the dynamic growth of the country's economy, with many more investment opportunities, notably in the liquefied petroleum gas (LPG) market.
Reuters
23-04-2025
- Business
- Reuters
Dutch firm Vopak posts marginal growth in first-quarter core earnings
April 23 (Reuters) - Dutch tank storage group Vopak ( opens new tab reported a marginal rise in first quarter core earnings on Wednesday, driven by contributions from growth projects. Proportional earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 0.7% to 300 million euros ($341.73 million) in the three month period to March 31, up from 297.8 million euros it reported over the same period a year ago. Vopak, which provides storage and handling services to key energy and manufacturing end markets, confirmed its outlook for the year ending December 2025. It also raised its forecast for proportional growth capex to 600 million euros, up from the 500-600 million euros range it forecast previously. However, it expects potential negative impact from ongoing macroeconomic volatility. "Across the markets we operate in, there is uncertainty on trade tariffs, while the situation continues to evolve and is dynamic, we currently foresee limited direct impact on Vopak in the short-term," group CEO Dick Richelle said in a statement.
Trade Arabia
16-04-2025
- Business
- Trade Arabia
OQ, Royal Vopak partner to develop Duqm as integrated industrial hub
OQ, spearheading the development of Duqm in Oman as a premier integrated hub for hydrocarbons, chemicals, and low-carbon products, and Royal Vopak have entered into an exclusive partnership framework agreement in the Special Economic Zone at Duqm (SEZAD). This is a significant step for a strategic alliance that aims to unlock future growth opportunities in industrial and energy terminal infrastructure and sustainable energy transition facilities in SEZAD. Leveraging Vopak's proven expertise to develop and operate large-scale infrastructure projects, this partnership holds high prospects to drive economic growth, attract international customers, create new employment opportunities, and effectively serve all new projects requiring storage solutions in Duqm. Highlighting the significant impact of this partnership, Ashraf Al Mamari, Group CEO of OQ, said: 'This partnership is a catalyst for Duqm's emergence as a globally competitive energy hub. By aligning with Vopak's international expertise, we are unlocking a new era of strategic infrastructure investment that strengthens Oman's position in global energy flows, accelerates the energy transition, and delivers long-term value for our economy and future generations.' Dick Richelle, CEO of Royal Vopak, welcomed this partnership, saying: 'Vopak is excited to collaborate with OQ Group on this strategic partnership in Duqm. Our combined strengths in infrastructure development will be instrumental in creating a leading energy and chemical hub serving multiple industrial customers concurrently. We are excited to support Oman's Vision 2040.'
Yahoo
13-03-2025
- Business
- Yahoo
Vopak hosts Capital Markets Day, reconfirms its strategic priorities and announces EUR 1 billion additional investments in gas and industrial infrastructure
Vopak hosts Capital Markets Day, reconfirms its strategic priorities and announces EUR 1 billion additional investments in gas and industrial infrastructure Rotterdam, the Netherlands, 13th March 2025Today, Royal Vopak (Euronext: VPK) reconfirms its strategic priorities to improve financial and sustainability performance of its portfolio, to grow in industrial and gas terminals and to accelerate towards energy transition infrastructure at its Capital Markets Day. The event features presentations on Vopak's strategy execution, market developments and updates on strategic priorities and financial framework. Today's event will be accessible via live webcast at our website, starting at 9:00 EST / 14:00 CET. The presentations and recording of the webcast will also be available on our website after the highlights Vopak increases its operating cash return ambition to above 13% Vopak increases its ambition to grow in gas and industrial infrastructure by an additional EUR 1 billion, reaching a total of EUR 2 billion of which EUR 1 billion has already been committed Vopak confirms its ambition to allocate EUR 1 billion in energy transition infrastructure Vopak aims to keep a proportional leverage ratio of 2.5-3.0x Vopak remains committed to deliver attractive shareholder returns via a progressive dividend policy and evaluate a share buyback program on an annual basis. Dick Richelle, CEO of Royal Vopak: Building on our proven track record of strategic execution, we have delivered an improved cash return and committed EUR 1 billion capex target to grow in industrial and gas terminals, reaching our target ahead of schedule. This positions Vopak with confidence to capture additional growth opportunities in gas and industrial infrastructure as well as infrastructure for the energy transition. Our resilient business model, driven by our 'Improve, Grow, Accelerate' strategy, provides a strong foundation for future growth. This is reflected by the increased operating cash return target of above 13%, which demonstrates our financial discipline and cash focus. We see market opportunities to invest an additional EUR 1 billion in gas and industrial terminals, and we are reconfirming our ambition to invest EUR 1 billion to accelerate towards energy transition infrastructure by 2030. We remain dedicated to delivering sustainable and increasing shareholder returns via a progressive dividend distribution and will evaluate a share buyback program on a yearly financial and sustainability performanceVopak confirms its ambition to continue to focus on improving the financial and sustainability performance of the portfolio underpinned by an increase of the operating cash return target to above 13% compared to previous ambition of above 12% and initial ambition of above 10% as announced in June 2022. Operating cash return target factors in volatility in different market conditions. This is supported by the strong strategy execution that the company has had over the last 3 years. Operating cash return is defined as proportional operating cash flow over proportional capital employed and reflects the increased importance of free cash flow and joint ventures in our portfolio. Grow in industrial and gas terminals Vopak has achieved its target to grow its gas and industrial footprint by committing EUR 1 billion by 2030, ahead of schedule. The majority of these investments were in gas infrastructure to address energy security and affordability needs, a substantial portion has also been committed to growth markets like India and China. Given the positive outlook and market demand for infrastructure, Vopak has the ambition to invest an additional EUR 1 billion by 2030 in projects that will be underpinned by customer commitments and will provide attractive returns upon commissioning. The total investments in gas and industrial infrastructure by 2030 are expected to be around EUR 2 billion, including the already committed EUR 1 billion. These investments will further support long-term and steady cash flow towards energy transition infrastructure Vopak's ambition to invest EUR 1 billion by 2030 towards energy transition infrastructure remains unchanged. Vopak will continue to have a disciplined and selective approach in these investments with a similar risk return profile as the current business. Vopak will focus on infrastructure solutions for low-carbon fuels and sustainable feedstocks, ammonia as a hydrogen carrier, liquid CO2, and battery energy storage. Part of Vopak's ambition to invest in energy transition infrastructure is to repurpose a portion of the existing oil capacity in the hub locations for low carbon fuels and feedstocks. Financial framework: disciplined capital allocation with attractive shareholder returns Vopak aims to deliver strong cash flow generation and commits to a disciplined allocation of capital. First, Vopak targets a robust balance sheet with sufficient financial flexibility. As investments are expected to be mainly via joint ventures, Vopak aims to keep a proportional leverage ratio of 2.5-3.0x which includes Vopak's economic share of debt in the joint ventures adjusted for IFRS 16 impact. To facilitate the development of growth opportunities that enhance cash return, Vopak's proportional leverage may temporarily fluctuate between 3.0-3.5x during the construction period which can last 2-3 years. Second, Vopak will continue to manage the portfolio in line with its strategy and drive shareholder value creation. Vopak confirms its progressive dividend policy, demonstrating its commitment to returning value to shareholders supported by robust cash flow Vopak aims to invest in attractive and accretive growth projects in gas, industrial and energy transition infrastructure that support the portfolio operating cash return of above 13%. Fourth, Vopak will annually evaluate the potential for a share buyback program as part of its capital allocation strategy, continuing the trend of the last two years of distributing additional shareholder returns via share buyback programs. DisclaimerAny statement, presentation or other information contained herein that relates to future events, goals or conditions is, or should be considered, a forward-looking statement. Although Vopak believes these forward-looking statements are reasonable, based on the information available to Vopak on the date such statements are made, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on these forward-looking statements. Vopak's outlook does not represent a forecast or any expectation of future results or financial performance. The actual future results, timing and scope of a forward-looking statement may vary subject to (amongst others) changes in laws and regulations including international treaties, political and foreign exchange developments, technical and/or operational capabilities and developments, environmental and physical risks, (energy) resources reasonably available for our operations, developments regarding the potential capital raising, exceptional income and expense items, changes in the overall economy and market in which we operate, including actions of competitors, preferences of customers, society and/or the overall mixture of services we provide and products we store and does not undertake to publicly update or revise any of these forward-looking statements. About Royal VopakRoyal Vopak helps the world flow forward. At ports around the world, we provide storage and infrastructure solutions for vital products that enrich everyday life. These products include liquids and gases that provide energy for homes and businesses, chemicals for manufacturing products, and edible oils for cooking. For all of these, our worldwide network of terminals supports the global flow of supply and demand. For more than 400 years, Vopak has been at the forefront of fundamental transformations. With a focus on safety, reliability, and efficiency, we create new connections and opportunities that drive progress. Now more than ever, our talented people are applying this mindset to support the energy transition. Together with our partners and customers, we are accelerating the development of infrastructure solutions for hydrogen, ammonia, CO₂, battery energy storage, and low-carbon fuels & feedstocks – paving the way to a more sustainable future. Vopak is listed on Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. The content of this press release has not been audited or reviewed by an external auditor. For more information, please visit Vopak Press: Liesbeth Lans - Manager External Communication, e-mail: Vopak Analysts and Investors: Fatjona Topciu - Head of Investor Relations, e-mail: 2025-3-13 Press Release Vopak hosts Capital Markets Day - reconfirms its strategic priorities and announces one billion EUR additional investments in gas and industrial infrastructure
