Dutch Vopak H1 net profit falls 29% in absence of one-off gains

24 August 2012 06:43  [Source: ICIS news]

SINGAPORE (ICIS)--Vopak’s first-half 2012 net profit declined 29% year on year to €169.5m despite a 16% increase in sales, the Dutch logistics firm said on Friday.

The company’s net profit in the same period in 2011 included a one-off divestment gain, Vopak said in a statement.

Sales for the first six months of 2012 increased to €648.1m from €561.1m in the previous corresponding period, while operating profit fell 17% to €279.9m, it said.

Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at €377.7m in January-June 2012, it said.

Vopak said its EBITDA to hit €725-800m this year in 2012 – a year ahead of its plan – from €636m in 2011.

“The demand for chemical storage service shows different developments in different regions, being steady in Asia, encouraging in North America and mixed in Europe,” said Vopak chairman Eelco Hoekstra in the statement.

($1 = €0.80)

By: Pearl Bantillo
+65 6780 4359

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