Koninklijke Vopak N.V. (VPK.AS), an infrastructure provider based in Rotterdam, the Netherlands, on Wednesday reported lower first quarter earnings, compared to the prior year, despite higher revenue.
Further, the company confirmed fiscal 2026 guidance.
Net profit attributable to holders of ordinary shares declined to 85 million euros from 100 million euros last year, driven by the exceptional divestment loss of HALPG and lower results from joint ventures and associates.
Earnings per share was 0.74 euro per share compared to 0.85 euro per share in the previous year, reflecting lower net profit, partly offset by fewer shares due to buyback programs.
Revenue rose to 333 million euros from 329 million euros, supported by strong demand for storage infrastructure services across different geographies and markets.
Looking ahead to fiscal 2026, Vopak confirmed its outlook, expecting proportional operating free cash flow of around 800 million euros and proportional EBITDA of 1.15 billion euros to 1.20 billion euros, both unchanged from prior guidance and subject to market uncertainty and currency movements.
Further ahead, for 2027 and beyond, it expects commissioning of the 1.3 billion euros committed growth capex under construction to further support cash generation.
Additionally, the company said its long-term ambition for proportional operating cash return is 13 percent to 17 percent, reflecting strong cash generation from the current portfolio and the expected contribution from growth capex under construction.
On the Amsterdam Stock Exchange, shares of Vopak were gaining 5.40 percent trading at 44.50 euros.
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