Vopak reported higher Q4 earnings on Wednesday, citing good performance from converted IMO 2020 capacity and contributions from new projects in Brazil, Mexico, Panama and Singapore.
Full-year EBITDA of EUR 830 million increased by EUR 96 million, reflecting the good aggregate business performance of EUR 37 million, positive currency translation effects of EUR 14 million and positive IFRS 16 effects of EUR 45 million.
The EUR 300-500 million target confirmed by Vopak for growth-focused investments in 2020. The majority of cash from recent divestments will be used by the company to grow its portfolio.
While building up gas and chemicals capacity, a total cash inflow of nearly EUR 550 million recorded by Vopak from divestments in 2019.
Following the completion of the divestment of the terminals in Algeciras, Amsterdam and Hamburg, Vopak announces a share buyback program to return EUR 100 million to shareholders.
Tags: AlwaysFree,EN ALWAYSFREE,English,Europe,Sustainability Financial results,IMO 2020,VopakFebruary 13, 2020 6:06 PM