Analysts cheer Dutch Vopak's strong Q3 figures, outlook

Nov 11, 2014 - Dutch oil storage firm Vopak (AMS:VPK) published today strong third-quarter results and was able to upgrade its profit outlook for the whole year, KBC and Rabobank analysts said.

Earnings before interest, tax, depreciation and amortisation (EBITDA), excluding extraordinary items, amounted to EUR 202 million (USD 250.6m) in the third quarter of 2014, while the market consensus was about EUR 186 million. In full-2014, Vopak expects its EBITDA, excluding one-offs, to exceed EUR 740 million, up from the previously projected more than EUR 700 million. The current market consensus for the result is EUR 734 million.

According to ING, the figures were better than expected. The bank believes the profit in 2014 could near the record EUR-768-million level achieved in 2012.

Vopak shares were trading 2.16% up at EUR 41.54 by 1228 CET in Amsterdam on Tuesday.

(EUR 1.0 = USD 1.243)

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