Analysts eager to hear about Vopak’s EBITDA target in 2013

Feb 28, 2014 - Analysts are eager to hear whether Dutch oil storage firm Royal Vopak (AMS:VPK) has managed to achieve its target for earnings before interest, tax, depreciation and amortisation (EBITDA), excluding one-offs, of EUR 750 million (USD 1bn) in 2013.

The market experts are also curious about the occupancy rate on the company's storage facilities. It stood at 87% in the third quarter due to difficult market conditions in Europe, among others.

Vopak warned in December it would possibly be not able to achieve its target for EBITDA, excluding one-offs, of EUR 1 billion by 2016. The company also said it would be hard to achieve in 2014 the record EBITDA of EUR 768 million from 2012 due to the challenging market environment.

The analysts further expect Vopak's 2013 revenue to have stabilised at EUR 1.3 billion.

(EUR 1.0 = USD 1.370)

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