Dutch Vopak Q3 group opg profit falls 9% on adverse forex effects

06 November 2013 06:50  [Source: ICIS news]

SINGAPORE (ICIS)--Vopak’s group operating profit fell by 9% year on year to €131.9m ($178.2m) in the third quarter of this year, partly on adverse foreign exchange effects, the Netherlands-based liquid bulk tank storage service provider said on Wednesday.

The company’s earnings before interest, tax, depreciation and amortization (EBITDA) excluding exceptional items were down 5% year on year at €185.6m, it said in a statement.

“Vopak continues to expect to realise an EBITDA within its earlier communicated EBITDA outlook range of between €730-780m for the full year 2013,” the company said.

Its fourth-quarter EBITDA “will most likely not exceed the third quarter 2013 EBITDA level”, citing adverse currency development, higher business development costs and comparable occupancy rates, Vopak said.

($1 = €0.74)

By: Nurluqman Suratman

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