Trasporti
Vopak reports on FY 2021 and Q4 2021 financial results
Vopak reports on FY 2021 and Q4 2021 financial results
Rotterdam, the Netherlands, 16 February 2022
The prior periods related to financial year 2020 have been restated, due to mandatory full retrospective application of a change in accounting policy for the IFRIC agenda decision made in March 2021 on Cloud Computing Arrangements.
Highlights for FY 2021 and Q4 2021 -excluding exceptional items-:
Portfolio items:
Exceptional items FY 2021:
For a full overview of the exceptional items, reference is made to Enclosure 4g.
Other developments:
Looking ahead:
Royal Vopak Chief Executive Officer Dick Richelle comments:
Performance driven
“2021, like 2020, was an atypical year due to the pandemic -- with high volatility and lower demand for storage across the industry due to tight supplies. Vopak has again proven its resilience and ability to
continue delivering while ada pting to change and further improving our performance in safety and service to our best level yet. We delivered close to record high EBITDA and continued the delivery of the growth projects.
We realized good progress on our portfolio and growth agenda by actively positioning ourselves towards the future. We reached new milestones in industrial terminals, mainly on the US Gulf Coast and China. We delivered new storage capacity and infrastructure in main industrial clusters in Belgium, Mexico, USA, the Neth erlands, Australia.
Gate terminal, our successful joint venture with Gasunie for LNG in Rotterdam, is making an important contribution to the security of natural gas supplies in the Netherlands and Northwest Europe supplying the equivalent of 25% of the N etherlands' gas needs. Gate terminal will add 12.5% additional send out capacity to serve increased demand by the end of 2024.
On sustainability, we are ambitious and performance driven. We updated our sustainability roadmap to navigate us in the coming
years. Our roadmap establishes a balanced approach with 12 key topics focusing on care for people, planet and profit. On safety, the cornerstone of our sustainability policy, we had no major incidents in 2021 and continued to improve our performance versus previous years recording our best year yet.
Future mindset
We contribute to a more sustainable world by actively innovating and investing in infrastructure for the introduction of the new vital products of the future.
We are working hard on the progres s towards starting up our new joint venture in India in 2022. As the Indian government has earmarked LPG to provide cleaner and safe cooking fuels for households, we are joining forces with Aegis to create one of the largest independent tank storage compan ies for LPG and chemicals in the country. We reached an agreement with Mitsui O.S.K. Lines to jointly own and operate the floating storage and regasification unit for the new offshore LNG terminal in Hong Kong to support Hong Kong Special Administrative Re gion (HKSAR) government's target to improve air quality and environmental conditions by increasing the percentage of power generation by natural gas.
As the pace of change accelerates, we are excited about our positioning towards the many opportunities ah ead. In 2021, we continued our progress of infrastructure solution opportunities and resource allocation to hydrogen, ammonia, CO2, flow batteries, biofuels and sustainable feedstocks.
Building on our experience in storing and handling ammonia at five oth er locations around the world, we commissioned ammonia operations in the new Vopak Moda Houston terminal with VLGC (Very Large Gas Carriers) shipping capacity. This positions us well to contribute to future flows of ammonia, which can be used as a hydrogen carrier, a shipping fuel or a feedstock. We also work with various partners on setting up new hydrogen supply chains via various technologies -- liquid organic hydrogen carriers to enable hydrogen imports from various potential locations into Northern Eur ope, and liquefied hydrogen in the long run, to, for instance, Singapore.
For 2022 and beyond, we will remain true to our purpose: storing vital products with care. In doing so, supported by our financial performance, we will continue to make a meaningful contribution to our customers and to society."
Link to video of CEO and CFO commenting on Vopak's FY 2021 results
About Royal Vopak
Royal Vopak is the world's leading independent tank storage company. We store vital products with care. With over 400 years of history and a focus on sustainability, we ensure safe, clean and efficient storage and handling of bulk liquid products and gases for our customers. By doing so, we enable the delivery of products that are vital to our economy and daily lives, ranging from chemicals, oils, gases and LNG to biofuels and vegoils. We are developing key infrastructure solutions for the world's changing energy and feedstock systems, while simultaneously investing in digitalization and innovation. Vopak is listed on the Euronext Amsterdam and is headquartered in Rotterdam, the Netherlands. For more information, please visit vopak.com.
For more information please contact:
Vopak Press: Liesbeth Lans - Manager External Communication,
e-mail: global.communication@vopak.com
V opak Analysts and Investors: Fatjona Topciu - Head of Investor Relations,
e-mail: investor.relations@vopak.com
The analysts' presentation will be given via an on-demand audio webcast on Vopak's corporate website , starting at 10:00 AM CET on 16 February 2022.
Auditor's involvement
This press release and enclosure 4 are based on the 2021 financial statements. The financial statements are published in accordance with statutory provisions. The auditor has issued an unqualified auditor's report on the Financial Statements.
This press release contains inside information as meant in clause 7 of the Market Abuse Regulation.
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