Royal Vopak: Capital Markets Update
2022年6月8日 - 2:00PM
Royal Vopak: Capital Markets Update
Royal Vopak: Capital Markets Update
The Netherlands, 8 June 2022
Vopak's strategic priorities - Shaping
the future
Today, Royal Vopak (Euronext: VPK) hosts its Capital Markets Day
in Rotterdam, the Netherlands. The update features Vopak's
strategic priorities and financial framework.
Improve performance of our
portfolio
Vopak aims to improve the performance of the
portfolio and targets an operating cash return of at least 10% by
2025. Operating cash return is defined as proportional operating
cash flow over proportional capital employed and reflects the
increased importance of free cash flow and joint ventures in our
portfolio. By 2025, Vopak expects that the share of proportional
capital employed in industrial and gas will further increase, while
the share of oil and chemical will gradually decline.
Grow our base in industrial and gas
terminals
Vopak will grow its base in industrial and gas terminals by
allocating EUR 1 billion to these activities by 2030. This will
further support a long-term and steady cash flow generation. Vopak
will continue to invest in the growing global gas markets and
expand its network of LNG and LPG terminals at strategic locations.
Vopak aims to further grow and maintain its position as market
leader in industrial terminals.
Accelerate towards new energies and
sustainable feedstocks
Vopak will accelerate its portfolio investments towards new
energies and sustainable feedstocks by allocating EUR 1 billion in
growth capital to these activities by 2030. This will not only
shape the future of Vopak, but also positively contribute to the
transition within key industrial clusters and shaping of the energy
hubs of the future. The share of zero-carbon and low-carbon energy
and sustainable feedstocks at Vopak's existing locations will be
increased and new infrastructure for the introduction of the vital
products of the future will be developed. Here Vopak's focus is on
infrastructure solutions for low-carbon and renewable hydrogen,
ammonia, CO2, long duration energy storage and sustainable
feedstocks. Those terminals within the Vopak network that store
traditional fuels and feedstocks will be well positioned to handle
low carbon substitutes.
Disciplined financial
framework
Vopak aims to deliver strong cash flow
generation and commits to a disciplined allocation of capital.
Vopak targets a robust balance sheet with sufficient financial
flexibility in the range of around 2.5 to 3.0 times senior net debt
to EBITDA and may temporarily be outside this range depending on
capital allocation choices.
Progressive dividend
policy
Vopak will continue to manage the portfolio in
line with its strategy and be a steward of shareholder value
creation. To reflect its strong cash flow generation, Vopak will
update its dividend policy to a progressive dividend policy aiming
to maintain or grow our annual dividend subject to market
conditions.
Management presentations in Rotterdam will start
at 10:00 am CEST and can be followed via an on-demand audio webcast
on Vopak's corporate website www.vopak.com. The presentations used
during this Capital Markets Day are also available through Vopak's
website.
Disclaimer
Any statement, presentation or other information contained
herein that relates to future events, goals or conditions is, or
should be considered, a forward-looking statement. Although Vopak
believes these forward-looking statements are reasonable, based on
the information available to Vopak on the date such statements are
made, such statements are not guarantees of future performance and
readers are cautioned against placing undue reliance on these
forward-looking statements. Vopak’s outlook does not represent a
forecast or any expectation of future results or financial
performance. The actual future results, timing and scope of a
forward-looking statement may vary subject to (amongst others)
changes in laws and regulations including international treaties,
political and foreign exchange developments, technical and/or
operational capabilities and developments, environmental and
physical risks, (energy) resources reasonably available for our
operations, developments regarding the potential capital raising,
exceptional income and expense items, changes in the overall
economy and market in which we operate, including actions of
competitors, preferences of customers, society and/or the overall
mixture of services we provide and products we store and
handle.
Vopak does not undertake to publicly update or
revise any of these forward-looking statements.
Profile Vopak
Royal Vopak is the world’s leading independent tank storage
company. We store vital products with care. Products for everyday
life. The energy that allows people to cook, heat or cool their
homes and for transportation. The chemicals that enable companies
to manufacture millions of useful products. The edible oils to
prepare food. We take pride in improving access to cleaner energy
and feedstocks for a growing world population, ensuring safe, clean
and efficient storage and handling of bulk liquid products and
gases at strategic locations around the world. We are excited to
help shape a sustainable future by developing infrastructure
solutions for new vital products, focusing on zero- and low-carbon
hydrogen, ammonia, CO2, long duration energy storage and
sustainable feedstocks. We have a track record of over 400 years in
navigating change and are continuously investing in innovation. On
sustainability, we are ambitious and performance driven. Our
balanced sustainability roadmap reflects key topics that matter
most to our stakeholders and where we can have a positive impact
for people, planet and profit and the United Nations Sustainable
Development Goals. Vopak is listed on the Euronext Amsterdam and is
headquartered in Rotterdam, the Netherlands.
This press release contains inside information
as meant in clause 7 of the Market Abuse Regulation.
For more information, please visit www.vopak.comFor more
informationVopak - Press Liesbeth Lans,
Manager External Communication, global.communication@vopak.com
Vopak - Analysts and investorsFatjona Topciu,
Head of Investor Relations, investor.relations@vopak.com
- PRESS - Royal Vopak Capital Markets Update
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