Vopak narrows 2024 profit outlook range on strong fuel storage demand
Adds CEO's comment in paragraph 3
By Alban Kacher
Oct 30 (Reuters) -Vopak VOPA.AS raised the lower end ofits 2024 core profit outlook range onWednesday after reporting third-quarter profit slightly ahead of expectations, as the Dutch tank storage firmcontinued to see solid demand for its infrastructure services.
The Rotterdam-based company now expects 2024 earnings before interests, taxes, depreciation and amortization (EBITDA) between 930 million euros ($1.01 billion) and 950 million euros, compared with a previous guidance of 920-950 million euros.
Vopaksaw sustained "healthy" demand in the third quarter, which supported proportional EBITDA growth, and maintained occupancy rates at high levels, CEODick Richelle said in a press release.
The company, which operates oil and gas terminals and storage facilities worldwide, posted an EBITDA of 233.3 million euros for the third quarter, while analysts expected 231 million euros, according to consensus figures quoted by ING.
However, compared to 2023, Vopak saw a decrease in revenue and core profit in the quarter, mainly due to divestment impacts.
The group also flagged "temporary technical challenges with financial implications" at its EemsEnergyTerminal in the Netherlands, and said itaims to resolve these issues in 2025.
In July,Vopak upgraded its 2024 EBITDA target for the second time this year amid strong demand across its markets and expanded terminal capacity that boosted second-quarter results.
Instability in the Middle East has stretched global energy supply routes, while Russia's war on Ukraine has pushed European countries to seek alternative oil and gas supplies, increasing demand for storage space.
Vopak has been looking to expand its gas and industrial terminals to increase cash returns and to shed less profitable assets in the oversupplied chemicals market.
($1 = 0.9243 euros)
Reporting by Alban Kacher; Editing by Eileen Soreng
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
