Dutch Vopak 2013 net profit falls 4%, revenues slip 1%

28 February 2014 08:03  [Source: ICIS news]

SINGAPORE(ICIS)--Vopak’s net profit in 2013 fell 4% to  €312.7m, partly on increased competition in certain markets in the storage sector, the Dutch logistics firm said on Friday.

Excluding exceptional items, the company’s net profit last year fell by 10% to €311.9m, the company said in a statement.

Full-year revenues dipped 1% to  €1.30bn, while earnings before interest and taxes (EBIT) dropped 1% to 533.8m, it said.

Earnings before interest, tax, depreciation and amortisation (EBITDA), excluding exceptional items, were down 2% at €753.1m in 2013.

“For the first time in ten years, Vopak did not grow its earnings,” Vopak chairman Eelco Hoekstra said.

We expect that the current business climate will remain largely unchanged in 2014, with continuing regional divergences. Therefore, exceeding the record EBITDA of 2012 (€768m) will also remain a challenge in 2014,” Hoekstra said.

By: Yaw Min Jie
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