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Investing.com -- Royal Vopak (OTC:VOPKY) on Wednesday reported a 5% increase in second-quarter proportional EBITDA before exceptional items to €315.4 million, driven by growth projects and a one-off gain of €22.0 million related to PPT2 in Malaysia.
Excluding the one-off gain, EBITDA decreased 3% to €293.4 million, which was still 1% ahead of consensus expectations of €291 million. The company faced a negative foreign exchange translation effect of €6 million during the quarter.
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, showed 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) has raised its guidance, now expecting a relatively stable proportionate EBITDA of €1,170 million to €1,200 million, compared to its previous guidance of €1,150 million to €1,200 million.
This new outlook is slightly above the consensus estimate of €1,173 million. The company noted that an increasing €30 million FX headwind is being offset by the €22.0 million gain and resilient business performance.
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