Vopak increases its core profit forecast for 2025 after a solid first-half

Vopak, the Dutch tank storage company, raised its core profit forecast for 2025 on Wednesday. It cited strong results in the first half and its terminal network's resilience.

The company now expects its core profit (proportional EBITDA for the year) to be between 1,17 billion euros ($1.35billion) and 1,20 billion euro, a slight increase from its previous guidance range of 1,15 billion-1.20billion euros.

Vopak, a company that provides storage and handling to energy and manufacturing markets, reported first-half EBITDA at 615.3 millions euros. This represents a 3% increase year-on-year and beats ING's estimation of 599million euros.

The Rotterdam firm's net income jumped 58% in the first six months to 318.6 millions euros, and its earnings per share rose from 1.73 euros to 2.74 euros.

Vopak's Indian joint venture Aegis Vopak, (AVTL), listed on the Indian bourses last month. This resulted in a gain of 111 millions euros. Reporting by Romolo Tassiani in Gdansk, Editing by Sumana Dhaniwala and Mrigank Tosiani

(source: Reuters)