Vopak's 2009 operating profit increases 20%
03.12.2010 - NEWS
March 12, 2010 [Vopak] - Vopak's 2009 Group operating profit -excluding exceptional items- increases 20% to EUR 385 million.

Highlights for 2009 -excluding exceptional items-:
• Group operating profit before amortization and depreciation (EBITDA) increases 20% to EUR 513.4 million in line with the earlier indicated outlook.
• Group operating profit rises 20% to EUR 385.3 million (2008: EUR 320.4 million).
• Net profit attributable to holders of ordinary shares increases 20% to EUR 242.7 million (2008: EUR 202.1 million) and earnings per ordinary share (EPS) are up by 19% to EUR
3.84 (2008: EUR 3.24).
• Vopak’s worldwide storage capacity expands further during 2009 by 1.2 million cubic meters (cbm) to 28.3 million cbm.

A dividend of EUR 1.25 (2008: EUR 1.10) per ordinary share, payable in cash, will be proposed to the Annual General meeting of Shareholders.

Outlook:
• Projects under construction will add 3.0 million cbm of storage capacity in the years 2010, 2011 and 2012. The total investment for Vopak and partners in these projects involves
capital expenditure of some EUR 1.6 billion, of which Vopak’s total remaining cash spend will be some EUR 0.4 billion.
• For 2010 Vopak expects Group operating profit before depreciation and amortization (EBITDA) to grow between 5-10%. Although the expected EBITDA growth will contribute
positively to the EPS development in 2010, the completed long-term financing activitities in 2009 will weigh on the EPS development due to the increase in outstanding shares
and higher financing costs.
• Based on its growth strategy Vopak is well positioned to realize a Group operating profit before depreciation and amortization (EBITDA) between EUR 625-700 million in 2012.

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