Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Investing.com -- Royal Vopak (OTC:VOPKY) shares gained 5% after the company reported a 5% increase in second-quarter proportional EBITDA before exceptional items to €315.4 million.
The growth was primarily driven by expansion projects and a one-off gain of €22.0 million related to PPT2 in Malaysia, which helped offset a negative foreign exchange translation effect of €6 million.
Excluding the one-off gain, EBITDA decreased by 3% to €293.4 million, which still exceeded consensus estimates of €291 million.
Proportional occupancy decreased by 1 percentage point to 92%, which the company described as resilient considering global tensions and geopolitical uncertainties. Gas and industrial terminals, supported by long-term contracts, demonstrated stable performance with higher throughputs.
Energy markets served by oil terminals experienced strong demand for infrastructure, while demand for chemical storage remained weak.
For the full year 2025, Vopak (AS:VOPA) raised its guidance, now expecting a relatively stable proportionate EBITDA of €1,170 million to €1,200 million, compared to the previous range of €1,150 million to €1,200 million. The new guidance accounts for an increasing €30 million foreign exchange headwind, offset by the €22.0 million gain and resilient business performance.
The updated outlook aligns with consensus estimates of €1,173 million.
Vopak shares are down 6% year-to-date, compared to an 8% gain in the EuroStoxx index. The company currently trades at 8.0 times proportionate FY25 estimated EBITDA, versus its historical average of 8.8 times, and compared to growth investments at 4 to 8 times EBITDA.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.