Vopak's Q3 EBITDA falls to EUR 185.6m

Nov 6, 2013 - Dutch oil storage firm Royal Vopak (AMS:VPK) said today its EBITDA excluding exceptional items decreased to EUR 185.6 million (USD 250.7m) in the third quarter of 2013 from EUR 196.3 million a year earlier.

Adjusted for negative currency effects, the company's earnings before interest, tax, depreciation and amortisation (EBITDA) were 1% lower.

Vopak's earnings before interest and tax (EBIT), excluding one-offs, decreased by 9% year-on-year to EUR 131.8 million.

According to CEO Eelco Hoekstra, the firm was confronted with negative currency effects, higher pension costs and continued challenging market conditions in Europe.

The company, however, maintained its full-year outlook for EBITDA, excluding exceptional items, of between EUR 730 million and EUR 780 million. Vopak aims at EBITDA of EUR 1 billion by 2016.

(EUR 1.0 = USD 1.351)

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