Dutch Vopak eyes €385m H1 earnings; revises down FY EBITDA target

19 July 2013 08:59  [Source: ICIS news]

SINGAPORE (ICIS)--Vopak expects its first-half earnings to hit about €385m ($507m), up by 1.3% from the same period last year, partly on positive contributions from expansion projects commissioned in the second half of last year, the Dutch logistics firm said on Friday.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) excluding exceptional items in the same period last year was €380m, it said in a statement.

The limited growth of EBITDA in the first half of this year “was influenced by a start-up delay in Algeciras related to permit issues”, Vopak said.

For the whole of 2013, Vopak has revised down its full-year target EBITDA excluding exceptional items to  €730m-780m from €760m-800m previously.

Vopak will release its financial results on 23 August 2013.

($1 = €0.76)

By: Yaw Min Jie
+65 6780 4327

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