Royal Vopak Nv · EURONEXT:VPK
Royal Vopak Nv — Shareholder Meeting (April 2022)
35 slides from Royal Vopak Nv's shareholder meeting presentation, Apr 20, 2022
Slide 1: Storing vital products with care
Storing vital products with care Algemene Vergadering van Koninklijke Vopak N.V. 20 april 2022
Slide 2: Agenda voor de jaarlijkse Algemene Vergadering van Koninklijke Vopak N.V.
Agenda voor de jaarlijkse Algemene Vergadering van Koninklijke Vopak N.V. - 20 april 2022 1. Opening 9. Benoeming van de heer M.E.G. Gilsing als lid van de Raad van Bestuur 2. Bespreking van het bestuursverslag over het boekjaar 2021 10. Herbenoeming van mevrouw L.J.I. Foufopoulos – De Ridder als li
Slide 3: AGM 2022
Nooduitgang ‘ Vopak AGM 2022 3
Slide 4: Agenda voor de jaarlijkse Algemene Vergadering van Koninklijke Vopak N.V.
Agenda voor de jaarlijkse Algemene Vergadering van Koninklijke Vopak N.V. - 20 april 2022 1. Opening 9. Benoeming van de heer M.E.G. Gilsing als lid van de Raad van Bestuur 2. Bespreking van het bestuursverslag over het boekjaar 2021 10. Herbenoeming van mevrouw L.J.I. Foufopoulos – De Ridder als li
Slide 5: Storing vital products with care
Storing vital products with care Dick Chairman of the Executive Board and CEO of Royal Vopak Richelle
Slide 6: Forward-looking statement
Forward-looking statement 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 a
Slide 7: Impact of the Russia – Ukraine war
Impact of the Russia – Ukraine war Russian invasion of Ukraine is a major humanitarian drama Vopak has no operations in Russia, Ukraine or any of the Baltic states Vopak is monitoring the situation closely and is fully committed to adhere to relevant sanctions laws and regulations The Russia
Slide 8: FY 2021 Key messages
FY 2021 Key messages Storing vital products with care: products that meet basic human needs for a growing population and store these vital products with the utmost care Full year 2021 EBITDA of EUR 827 million close to record high EBITDA, 7% YoY growth adjusted for currency translation effect
Slide 9: We continue to invest in growth and transform the portfolio
We continue to invest in growth and transform the portfolio Proportional revenue by product category Since 2014, we have divested more than 10 oil terminals located in the Netherlands, UK, Sweden, Germany, ~10% 10-15% ~15% Estonia, Spain, USA and China 15-20% 20-25% 25-30% 25-30% Gas terminals 25-
Slide 10: FY 2021 Portfolio highlights
FY 2021 Portfolio highlights Strengthening our leading position in industrial terminals Industrial terminals in China and US Qinzhou, China Successful start of operations of the greenfield industrial terminal in Qinzhou, China Awarded contract for industrial terminal in Huizhou, China, where we
Slide 11: FY 2021 Portfolio highlights
FY 2021 Portfolio highlights Aiming to grow in the regasification of LNG Gate LNG terminal, Netherlands Floating LNG terminal, Hong Kong Gate terminal for LNG in Rotterdam is making an important Agreement with Mitsui O.S.K. Lines (MOL) to jointly own and contribution to the security of natural g
Slide 12: Storing vital products with care
Storing vital products with care Michiel Member of the Executive Board and CFO of Royal Vopak Gilsing
Slide 13: Financial highlights
Financial highlights EBITDA increased by EUR 47 million to EUR 827 million Costs in line with previously announced ambitions of below EUR 615 million Growth momentum continues with EUR 269 million invested in growth capex in 2021 Earnings per share of EUR 2.38 Dividend proposal of EUR 1.25
Slide 14: FY 2021 vs FY 2020 EBITDA
FY 2021 vs FY 2020 EBITDA EBITDA performance driven by growth project contribution in soft markets Business environment Performance changes delivery 827 20 780 0-5 6 50 0-5 20 FY 2020 Oil markets Chemical FX-effect Expenses Growth 2020 FY 2021 Restated markets projects Malaysia item Figures in EUR m
Slide 15: Divisional performance
Divisional performance Strong performance in Americas, Asia & Middle East, China & North Asia and LNG. Weak performance in Europe & Africa Americas Asia & Middle East China & North Asia 90 87 86 87 85 93 90 90 91 90 88 88 84 84 89 46.8 45.6 48.2 54.4 69.4 68.0 70.9 72.5 22.0 41.8 51.1 15.5 15.1 15.7
Slide 16: Cash flow
Cash flow CFFO* increased by 6% YoY in line with EBITDA 2021 In EUR million 760 741 45 26 59 -19 316 366 682 269 94 3 CFFO Derivatives Working CFFO Tax & other CFFO Sustaining, FCF before Growth Other FCF (excl. Capital (WC) (gross) operating (net) service & IT growth investments CFFI before items i
Slide 17: Investment phasing
Investment phasing Strategic investments aiming to capture growth Investments Growth investments for 2022 are expected to be In EUR million below EUR 300 million Sustaining and service improvement investments for the period 2020-2022 are New projects* expected to be at the higher end of the rang
Slide 18: Increasing dividend
Increasing dividend Payout ratio of 53% of EPS; annual stable to rising cash dividend inline with the dividend policy Dividend and EPS* EPS* In EUR Dividend 2.80 2.55 2.56 2.25 2.27 2.37 2.38 1.10 1.15 1.20 1.25 1.00 1.05 1.05 2015 2016 2017 2018 2019 2020 2021 39% 41% 47% 48% 41% 51% 53% payout rat
Slide 19: Storing vital products with care
Storing vital products with care Frits Member of the Executive Board and COO of Royal Vopak Eulderink
Slide 20: Sustainability messages
Sustainability messages Storing vital products with care • We are committed to remain a responsible member of the communities in which we operate • We want to facilitate the introduction of vital products of the future and are ready to take the next step in serving our customers and society in the
Slide 21: Vopak's approach to sustainability
Vopak’s approach to sustainability We are ambitious and performance driven with a balanced roadmap focusing on care for people, planet and profit ESG benchmarks Sustainability roadmap MSCI Safety is our first priority Rating: AAA* (Scale: CCC to AAA) Vopak supports the UN Sustainable Developme
Slide 22: Sustainability performance
Sustainability performance We are ambitious and performance driven with a balanced roadmap focusing on care for people, planet and profit Social Environmental Governance Safety performance GHG emissions Business ethics and integrity Fines from permit violations 32 Fatal accidents 0 Total GHG emissio
Slide 23: Vopak's global GHG emissions in perspective
Vopak’s global GHG emissions in perspective ~2x the emissions of formula 1 as a full event, ~25% of one coal plant and ~0.3% of the Netherlands GHG emissions Formula 1 ~2x Formula 1 as a full event 0.26 as a full event per annum In million metric tons Storage & regasification Vopak’s global 0.58 ter
Slide 24: Portfolio positioning impact GHG emissions
Portfolio positioning impact GHG emissions Investing in cleaner energy solutions for our customers and society, while energy intensity increases for our operations supporting this transition Gas (LNG) is a cleaner alternative to coal and GHG emission intensity by energy source in tons CO2/GWh equi
Slide 25: Becoming climate neutral – lines of action
Becoming climate neutral – 5 lines of action Lines of action Examples Insulation of tanks and pipelines in the Netherlands, boiler economizers, variable speed drives for Energy efficiency pumps, data analytics optimizing compressor efficiency Renewable energy Solar park Eemshaven, using residual hea
Slide 26: Ammonia operations in six locations
Ammonia operations in six locations Well positioned to future flows of low-carbon and renewable ammonia New ammonia terminal in Houston Ammonia operations in six locations ▪ The new marine terminal of Vopak Moda Houston, a joint venture Total existing ammonia storage capacity: 266k cbm between Vopak
Slide 27: FY 2021 Portfolio highlights
FY 2021 Portfolio highlights Maturing our New Energies infrastructure projects Hydrogen supply chain CO2 infrastructure Proving the feasibility of international hydrogen transport based on Project CO2NEXT: Gate terminal as reference hub for CO2 import, liquid organic oils which are safe and recyclab
Slide 28: FY 2021 Portfolio highlights
FY 2021 Portfolio highlights Maturing our New Energies infrastructure projects Sustainable feedstocks Flow batteries Replacing existing infrastructure by 64,000 cbm of storage capacity Project Elestor: bringing to commercial size a durable flow battery for waste-based feedstocks at Vopak Terminal Vl
Slide 29: Annual General Meeting Questions & Answers
Storing vital products with care Annual General Meeting Questions & 20 April 2022 Answers
Slide 30: Storing vital products with care
Storing vital products with care Nicoletta Chair of the Remuneration Committee Giadrossi
Slide 31: Implementation of the Board remuneration policies in 2021: EB short term incentive results
Implementation of the Board remuneration policies in 2021: EB short term incentive results • 2021 EBIT result of 494.8M€* 2021 Cost result of 628.1M€* EBIT and Cost were both achieved at 150% vs target, delivering maximum payout Process safety (PSER) and personal safety (TIR), customer satisfa
Slide 32: Implementation of the Board remuneration policies in 2021: EB long-term incentives results
Implementation of the Board remuneration policies in 2021: EB long-term incentives results • Average 2019, 2020 and 2021 Earnings per Share performance realized at 2.52*€ EPS The EPS target, which weights 50%, was achieved at 150% The “Strategy Realization”** KPI, which also weights 50%, was ach
Slide 33: Board remuneration changes
Board remuneration changes The 2022 Board remuneration policies are now included in the Remuneration Report The use of benchmark information for setting the Vopak Supervisory Board and Executive Board remuneration has been simplified to only 1 peer group The peer group is composed of the botto
Slide 34: Annual General Meeting Questions & Answers
Storing vital products with care Annual General Meeting Questions & 20 April 2022 Answers
Slide 35: Agenda voor de jaarlijkse Algemene Vergadering van Koninklijke Vopak N.V.
Agenda voor de jaarlijkse Algemene Vergadering van Koninklijke Vopak N.V. - 20 april 2022 1. Opening 9. Benoeming van de heer M.E.G. Gilsing als lid van de Raad van Bestuur 2. Bespreking van het bestuursverslag over het boekjaar 2021 10. Herbenoeming van mevrouw L.J.I. Foufopoulos – De Ridder als li