Royal Vopak NV · EURONEXT:VPK
Royal Vopak NV — Non-Deal Roadshow (2011)
85 slides from Royal Vopak NV's roadshow presentation, 2011
Slide 1: Roadshow Presentation Results 2010
_ Roadshow Presentation Results 2010 – – –
Slide 2: Vopak: A worldwide tank terminal network
Vopak: A worldwide tank terminal network Key facts • Global market leader in independent storage of liquid bulk products • Present in 30 countries, operating 80 terminals • Total storage capacity of 28.8 mln cbm • Strong focus on safety and environment • Infrastructure service provider to many oil a
Slide 3: Vopak transformation process
Vopak transformation process "This is an infrastructure play; the company is benefitting from the outsourcing of this service by oil and chemical producers, which form the bulk of its customers. It is an under-recognized industry leader." Canadian Investor July 2002 2003 2004 2005/2006 2007/2008/200
Slide 4: Tank terminal: key role in oil and chemical supply chain
Tank terminal: key role in oil and chemical supply chain Vopak Terminal Europoort – Rotterdam, the Netherlands – – – Results 2010 4
Slide 5: Vopak's role in the supply chain
Vopak’s role in the supply chain “Reliability and efficiency crucial throughout the supply chain” Feedstock Feedstock Production & Products Independent Mid-Stream & Production Gathering Refining Transmission Storage & End-user Transshipment Distribution Oil and Chemical supply chain – – – Results 20
Slide 6: Vopak's challenge
Vopak’s challenge The challenge is to facilitate the current and future product flows: – – – Results 2010 6
Slide 7: Strategic position tank terminals
Strategic position tank terminals Outgoing Logistics Downstream Chemicals – – – Results 2010 7
Slide 8: Logistic hub terminal
Logistic hub terminal Where large flows of products merge – logistics crossroad Houston, Rotterdam / Antwerp, Singapore and Fujairah Example fuel oil – – – Results 2010 8
Slide 9: Import / Export terminal
Import / Export terminal - Break or make bulk - Local distribution – – – Results 2010 9
Slide 10: Industrial terminal
Industrial terminal Vopak Singapore – Sakra Terminal – – – Results 2010 10
Slide 11: Vopak core businesses
Vopak core businesses Existing market Oil Chemicals New products in existing market Biofuels New market LNG – – – Results 2010 11
Slide 12: Growing demand for Vopak's services by the oil industry
Growing demand for Vopak’s services by the oil industry - Increasing product differentiation - Increasing geographical imbalances - Liberalization of new markets - New giant oil players – – – Results 2010 12
Slide 13: Growing demand for Vopak's services by the chemicals industry
Growing demand for Vopak’s services by the chemicals industry - Increasing demand for storage - Robust growth in developing markets - Construction of new petrochemical complexes in Asia and Middle East World trade in major liquid chemicals – – – Results 2010 13
Slide 14: Increased interest in biofuels leading to growing storage demands
Increased interest in biofuels leading to growing storage demands - Interest in biofuels is soaring - Biofuels an answer to energy security and climate change - Increased interest in biofuels from producers due to subsidies and governmental requirements – – – Results 2010 14
Slide 15: Worldwide LNG demand drives need for independent import terminals
Worldwide LNG demand drives need for independent import terminals – – – Results 2010 15
Slide 16: Vopak market definition
Vopak market definition Definition Vopak’s competitive environment is defined as non-captive marine tank storage for liquid oil and chemical products. Primary competition Independent competition renting only to third parties Secondary competition Partly using the capacity for storing own products (S
Slide 17: Market share according to the definition
Market share according to the definition In mln cbm Storage market Oil Chemicals Total World Market 203 mln 50 mln 253 mln CBM Primary Competition 128 mln 44 mln 172 mln CBM Secondary Competition 74 mln 6 mln 80 mln CBM Vopak 17.4 mln 11.4 mln 28.8 mln CBM Vopak Market Share: As % of total market 9%
Slide 18: Demand growth in storage market to support international trade flows
Demand growth in storage market to support international trade flows Terminal capacity under construction Additional Worldwide Total Storage Capacity World Market, incl. Vopak 25.8 mln cbm Growth % 10.0 % Vopak 4.5 mln cbm Growth as % of Vopak 15.6% capacity – – – Results 2010 18
Slide 19: Vopak - the global market leader
Vopak - the global market leader In mln CBM Source: company websites, including inland capacity and Joint Ventures Vopak Vopak Oiltanking Kinder Morgan NuStar CLH IMTT Vitol CIM SUMED terminal Dalian Port Sunoco Horizon Sinochem Magellan EAPC STS Odfjell LBC Universal SPSE -0 5 10 15 20 25 30 35 – –
Slide 20: Agenda
Agenda Achievements 2010 Business environment Growth projects Business performance Financing Outlook Details and definitions used in this presentation are derived from the FY 2010 press release and Annual Report, which are leading. – – – Results 2010 20
Slide 21: Robust results in 2010
Robust results in 2010 Added 0.5 mln cbm storage capacity Healthy occupancy rate *Q1 2011: Adjustment of 3.4 million cbm after divestment Vopak Terminal Bahamas Strong business performance EBITDA excl. exceptionals EUR 598.2 mln 650 600 +17% 550 500 450 2009 2010 – – – Results 2010 21
Slide 22: Personnel & Process Safety
Personnel & Process Safety Total Injury Rate** Lost Time Injury Rate* 8 3 7,1 6 6,5 6,2 2 5,8 1,9 4 1,7 1,4 1,4 1,3 3,2 1 2 0 0 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 * Number of injuries per million hours worked by employees * Number of injuries leading to lost time per million hours wor
Slide 23: Strategic focus Vopak
Strategic focus Vopak EXCELLENT EXCELLENT ACCELERATED ACCELERATED OPERATIONAL OPERATIONAL CUSTOMER CUSTOMER COMPANY COMPANY EXCELLENCE EXCELLENCE SERVICE SERVICE GROWTH GROWTH Pursue and strengthen Attain service To be the most safe, leadership in key excellence across the sustainable and efficient
Slide 24: Focused Strategy: Customer Service
Focused Strategy: Customer Service Improved outcomes customer survey 2010 Strengthening Key Account Management Enhanced product flow knowledge “Annual world wide customer survey to further improve our customer service” – – – Results 2010 24
Slide 25: Focused Strategy: Operational Excellence
Focused Strategy: Operational Excellence Operational efficiency improvements Preparing infrastructure for the future Focus on maintenance master plans Vopak Terminal Teesside – Infrastructure improvements to serve as fuel distribution terminal – – – Results 2010 25
Slide 26: Focused strategy: Company growth
Focused strategy: Company growth Various new expansions announced Financing programs in place New strategic partnerships Vopak Horizon Fujairah – Expansion of 606,000 cbm under construction in key hub location – – – Results 2010 26
Slide 27: Various projects commissioned in 2010
Various projects commissioned in 2010 Total storage capacity commissioned 0.5 mln cbm Vopak Zhangjiagang (China) 190,000 cbm commissioned Jakarta (Indonesia) 250,000 cbm Decommissioned Waltershof (Germany) 99,400 cbm decommissioned Alemoa (Brazil) 38,600 cbm – – – Results 2010 27
Slide 28: Vopak Terminal Bahamas
Vopak Terminal Bahamas Subsequent event: Sale of 20% equity stake* in 3.4 million cbm Vopak Terminal Bahamas *Joint venture initiated in 2008 between Vopak (20%) and First Reserve Capital (80%) – – – Results 2010 28
Slide 29: Agenda
Agenda Achievements 2010 Business environment Growth projects Business performance Financing Outlook Details and definitions used in this presentation are derived from the FY 2010 press release and Annual Report, which are leading. – – – Results 2010 29
Slide 30: Current demand for tank storage
Current demand for tank storage Oil - Increasing number of specifications and increasing geographical imbalance between demand and supply leads to robust demand - Possible permanent closure/divestments of less efficient refineries and IOC’s focussing on upstream business Chemicals - Redesign of supp
Slide 31: The tank storage market continues to evolve
The tank storage market continues to evolve Drivers of structural growth in demand remain: • Increasing geographical imbalances • Countries setting individual specifications for products • Long term growing demand for environmentally friendlier fuels • Liberalization of previously closed economies B
Slide 32: Agenda
Agenda Achievements 2010 Business environment Growth projects Business performance Financing Outlook Details and definitions used in this presentation are derived from the FY 2010 press release and Annual Report, which are leading. – – – Results 2010 32
Slide 33: Company growth supported by healthy demand for storage capacity
Company growth supported by healthy demand for storage capacity Storage Capacity In mln cbm 28.8 29.9 28.3 27.1 25.4 21.2 21.8 20.4 +0.8 +0.6 +5.3 +1.2 +0.5 -3.4 +4.5 2005 2006 2007 2008 2009 2010 Pro forma* 2012 Occupancy Rate 92% 94% 96% 95% 94% 93% * Adjustment of 3.4 million cbm after divestment
Slide 34: Amsterdam Westpoort
Amsterdam Westpoort • Total storage capacity of 1,190,000 cbm • Phase 1 to come on stream in Q3 2011 • Full capacity available as of mid 2012 • A facility for storage and blending of oil products and components Aerial photo of the Vopak Westpoort Terminal (the Netherlands) under construction – – – R
Slide 35: Algeciras, Spain
Algeciras, Spain Strategically located greenfield capacity expansion • Total storage capacity of 403,000 cbm • To come on stream end of 2012 • Joint Venture between Vilma oil (20%) and Vopak (80%) • A facility for independent bunker storage services – – – Results 2010 35
Slide 36: Various projects under construction
Various projects under construction Total storage capacity under construction 4.5 mln cbm MOT, Rotterdam (the Netherlands) increase in entitlement with 360,000 cbm Gate terminal (the Netherlands) 540,000 cbm Dongguan (China) 153,000 cbm – – – Results 2010 36
Slide 37: Confidence in the future!
“Confidence in the future!” – – – Results 2010 37
Slide 38: Agenda
Agenda Achievements 2010 Business environment Growth projects Business performance Financing Outlook Details and definitions used in this presentation are derived from the full year 2010 press release and Annual Report, which are leading. – – – Results 2010 38
Slide 39: 2010: Another robust year for Vopak
2010: Another robust year for Vopak OCCUPANCY OCCUPANCY RATES RATES CUSTOMER CUSTOMER FOCUSED FOCUSED WITHIN WITHIN 90-95% 90-95% BANDWIDTH BANDWIDTH GROWTH GROWTH * Adjustment of 3.4 million cbm after divestment VTB Strong Strong business business performance performance HEALTHY HEALTHY MARGINS MAR
Slide 40: 2010 Financial overview
2010 Financial overview 17% EBITDA growth 16% EBIT growth 8% EPS growth Proposed cash dividend of EUR 0.70 per share Adequate funding of growth strategy secured - All figures excluding exceptional items - – – – Results 2010 40
Slide 41: Focused strategy delivers results
Focused (growth, customer service and operational excellence) strategy delivers results In EUR mln, - excl. exceptional items - EBITDA improvements by: 598.2 • Higher occupancy rates EBITDA • Improved revenue per cbm • Effective cost management • Storage capacity growth • Benefits from economies of
Slide 42: 2010 EBIT excl. exceptional items: up 16% to EUR 445.3 mln
2010 EBIT excl. exceptional items: up 16% to EUR 445.3 mln Revenues EBIT In EUR mln In EUR mln 1,106.3 1,001.1 445.3 923.5 385.3 320.4 2008 2009 +11% 2010 2008 2009 +16% 2010 Net Profit Earnings per share In EUR mln In EUR 1.92* 2.08 1.62* 242.7 264.8 202.1 +9% +8% 2008 2009 2010 2008 2009 2010 – –
Slide 43: Revenue developments supported by robust demand for storage capacity
Revenue developments supported by robust demand for storage capacity Storage Capacity In mln cbm Joint Ventures 28.8 28.3 10.5 27.1 25.4 Group Companies 21.2 21.8 20.4 18.3 +0.8 +0.6 +5.3 +1.2 +0.5 -3.4 2005 2006 2007 2008 2009 2010 Pro forma Occupancy Rate Adjustment for announced divestment Vopak
Slide 44: All divisions contribute to the 11% revenue growth
All divisions contribute to the 11% revenue growth In EUR mln North America OEMEA Asia 206.2 272.5 269.5 278.1 131.7 138.3 2009 5% 2010 2009 3% 2010 2009 32% 2010 Latin America CEMEA 312.7 325.1 77.9 88.2 2009 13% 2010 2009 4% 2010 – – – Results 2010 44
Slide 45: EBIT - excluding exceptional items - increased by 16%
EBIT - excluding exceptional items - increased by 16% In EUR mln 2010 2009 ∆ Operating profit 358.6 330.6 8% Net result Joint Ventures 83.4 60.5 38% EBIT incl. exceptional items 442.0 391.1 13% Exceptional gain (loss) (3.3) 5.8 EBIT excl. exceptional items 445.3 385.3 16% – – – Results 2010 45
Slide 46: 64% of EBIT generated in non-euro currencies
64% of EBIT generated in non-euro currencies Transactional currency exchange risks are limited. As a rule revenues, costs and financing are denominated in the same currency. USD FX Translation-effect on EBIT per division In EUR mln Other USD 14% OEMEA 2.1 CEMEA 1.4 SGD 26% Asia 17.4 SGD EUR 36% Nort
Slide 47: 16% EBIT increase mainly driven by Asia and OEMEA
16% EBIT increase mainly driven by Asia and OEMEA In EUR mln, - excl. exceptional items - North America OEMEA Asia 152.2 169.9 135.3 127.5 46.1 46.0 2009 0% 2010 2009 12% 2010 2009 33% 2010 Latin America CEMEA Other 91.2 90.6 24.3 25.7 -39.1 -39.1 2009 6% 2010 2009 -1% 2010 2009 0% 2010 – – – Result
Slide 48: Net result from Joint Ventures increases with 29%
Net result from Joint Ventures increases with 29% In EUR mln, - excl. exceptional items - North America OEMEA Asia 41.9 33.9 32.1 28.8 8.6 3.6 2009 139% 2010 2009 31% 2010 2009 18% 2010 Latin America CEMEA Other 1.8 1.5 0.7 1.1 -0.9 -2.0 2009 57% 2010 2009 -17% 2010 2009 2010 – – – Results 2010 48
Slide 49: Healthy EBIT(DA) margins
Healthy EBIT(DA) margins Supported by robust occupancy rates, improved revenue per cbm, effective cost management and economies of scale 60% 50% EBITDA margin* 40% 30% EBIT margin* 20% 10% 0% 2005 2006 2007 2008 2009 2010 * Excluding exceptional items, excluding Net result of JV’s – – – Results 2010
Slide 50: Net Profit increased by 9%
Net Profit - excluding exceptional items - increased by 9% In EUR mln, - excl. exceptional items - 2010 2009 ∆ Revenues 1,106.3 1,001.1 11% EBIT 445.3 385.3 16% Net finance costs -68.4 -45.7 Tax * -72.8 -68.9 Net Profit attributable to holders of ordinary shares 264.8 242.7 9% EPS 2.08 1.92 8% * Inc
Slide 51: Net Finance Costs aligned with expansion program
Net Finance Costs aligned with expansion program In EUR mln 2010 2009 Interest and dividend income 4.6 6.7 Finance costs -73.0 -52.4 Net finance costs -68.4 -45.7 Net-interest bearing debt Average interest rate 1500 1431.4 10% 1250 8% 1000 996.7 1017.7 6% 750 4% 500 561.9 2% 411.7 425.7 250 0% 2004
Slide 52: Effective tax rate 2010
Effective tax rate 2010 In EUR mln Effective Tax Rate 2010 2010 2009 Tax -72.8 19.5% 19.9% – – – Results 2010 52
Slide 53: Solid improvements in EPS
Solid improvements in EPS Historical figures adjusted for 1:2 share split effectuated May 17, 2010 In EUR, - excl. exceptional items - 2.50 2.00 2.08 1.50 1.92 1.62 1.00 1.31 0.50 0.805 0.98 22% 34% 24% 19% 8% 0.00 2005 2006 2007 2008 2009 2010 – – – Results 2010 53
Slide 54: Dividend: Increase with 12%
Dividend: Increase with 12% Historical figures adjusted for 1:2 share split effectuated May 17, 2010 Proposed 2010 dividend amounts to EUR 0.70 per ordinary share Proposed dividend +12% 0.70 0.625 0.55 0.475 0.375 0.30 2005 2006 2007 2008 2009 2010 – – – Results 2010 54
Slide 55: Sources and uses of cash
Sources and uses of cash Gross operating In EUR mln cash flow 58.7 Investments 600 11.2 500 455.1 400 564.7 300 200 100 172.6 147.8 194.9 0 12.8 53.0 Net Net finance Tax paid Divestments Derivative Financing Net -100 costs Cash position Settlement activities Cash position 1 Jan 2010 31 Dec 2010 – –
Slide 56: Pensions
Pensions Vopak defined Pension obligations Dutch Pension obligations FY 2010 Other 17% • Pension fund cover ratio 110% (per end of February 2011) • Included additions to pension obligations due to increased life expectancy in total 7% Dutch 83% • Employer’s contribution for 2011 remains at the maxim
Slide 57: Business performance
Vopak Terminal Europoort Vopak Horizon Fujairah Business performance EBIT per Division Vopak Terminal Vopak Singapore Deerpark, Houston Sebarok Terminal – – – Results 2010 57
Slide 58: Quarterly EBIT development
Quarterly EBIT development “Solid year-on-year growth” In EUR mln, - excl. exceptional items - 113,3 114,8 109,7 107,5 104,2 98,6 96,9 85,6 82,8 79,2 77,6 80,8 2008 2009 2010 23% 16% 9% 9% Q1 Q2 Q3 Q4 – – – Results 2010 58
Slide 59: Chemicals EMEA
Capacity developments Chemicals EMEA 31-12-2008 In mln cbm 3.98 “Increased customer activity offset by lower Divestments -0.03 Expansions 0.33 demand for storage of biofuels” 31-12-2009 4.28 Divestments -0.06 Expansions 0.00 31-12-2010 4.22 In EUR mln, - excl. exceptional items - 26.4 25.3 24.6 24.5
Slide 60: Oil EMEA
Capacity developments Oil EMEA 31-12-2008 In mln cbm 11.07 “Increasing geographical imbalances drive Divestments -0.43 Expansions 0.35 demand for tank storage” 31-12-2009 10.99 Divestments -0.12 Expansions 0.18 31-12-2010 11.04 In EUR mln, - excl. exceptional items - 41.0 38.8 36.6 35.9 35.8 33.6 34
Slide 61: Asia
Capacity developments Asia 31-12-2008 In mln cbm 5.82 “Increasing consumption in Asia offers Divestments 0.00 Expansions 0.60 Vopak a robust growth perspective” 31-12-2009 6.41 Divestments -0.01 Expansions 0.45 31-12-2010 6.87 In EUR mln, - excl. exceptional items - 47.5 43.7 41.0 37.7 33.9 31.6 31.
Slide 62: North America
Capacity developments North America 31-12-2008 In mln cbm 5.32 Divestments 0.00 “Healthy results in turbulent year” Expansions 0.43 31-12-2009 5.74 Divestments -0.01 Expansions 0.00 31-12-2010 5.73 In EUR mln, - excl. exceptional items - 13.3 13.0 12.0 11.4 11.2 10.5 10.6 10.1 17% 7% -22% 1% Q1 Q2 Q
Slide 63: Latin America
Capacity developments Latin America 31-12-2008 In mln cbm 0.88 “Continuing steady performance” Divestments 0.00 Expansions 0.03 31-12-2009 0.92 Divestments -0.01 Expansions 0.05 31-12-2010 0.95 In EUR mln, - excl. exceptional items - 7.3 7.1 6.6 6.4 6.2 6.2 5.5 4.7 14% 29% 6% -24% Q1 Q2 Q3 Q4 Vopak
Slide 64: Investments
Vopak Terminal Westpoort Gate terminal Investments Vopak Terminal Vopak Singapore Deerpark, Houston Penjuru Terminal – – – Results 2010 64
Slide 65: Growth continues
Growth continues 2010 storage capacity increased with 0.5 mln cbm Tallinn, Estonia Zhangjiagang, China Ningbo, China Product: Oil products Product: Chemicals Product: Chemicals Capacity addition: 75,000 cbm Capacity addition: 190,000 cbm Capacity addition: 5,500 cbm In cbm YE 2009 Capacity 28.3 mln
Slide 66: Expansion projects progressing well
Expansion projects progressing well Vopak Terminal Westpoort Vopak Terminal Barcelona 1,190,000 cbm 155,200 cbm Gate terminal Rotterdam Vopak Terminal Fujairah 540,000 cbm 606,000 cbm – – – Results 2010 66
Slide 67: Total investments
Total investments 800 In EUR mln 800 446 565 535 446 268 268 188 146188 147 2005 2006 2007 2008 2009 2010 Remaining Vopak Share Approved & Under Construction Projects EUR 0.4 bln YE 2010 – – 2012 – Results 2010 67
Slide 68: Investing in 4.5 mln cbm storage capacity growth
Investing in 4.5 mln cbm storage capacity growth Total investments up to and including 2012 Group companies and joint ventures Around EUR 0.4 bln Around EUR 1.9 bln Total CAPEX projects 2011 and 2012 Remaining Vopak share in CAPEX Spend 2011 Approved & Under Construction Projects and 2012 Approved &
Slide 69: Agenda
Agenda Achievements 2010 Business environment Growth projects Business performance Financing Outlook Details and definitions used in this presentation are derived from the full year 2010 press release and Annual Report, which are leading. – – – Results 2010 69
Slide 70: Debt funding program further strengthened
Debt funding program further strengthened Total program around EUR 2.8 bln Second Asian PP - November 2010 SGD 225 mln Asian private placement notes 7.2 years bullet maturity EUR 1,200,000,000 Syndicated Revolving Credit Facility Bookrunning Mandated Lead Arrangers Third Asian PP - December 2010 JPY
Slide 71: Maturity of debt funding further enhanced
Maturity of debt funding further enhanced Current Revolving Credit Facility of EUR 1.2 billion fully available Covenant US PP Asian PP RCF Term 2001 2007 2009 SGD2009 SGD2010 JPY PP EUR 1.2 bln Maximum Net Senior Debt/ 3.75 3.75 3.75 EBITDA Additional headroom when financed with - Up to 4.25 > 3.75
Slide 72: Strategic finance
Strategic finance Net Senior debt : EBITDA ratio 2010 2.63 2009 2.23 2008 2.54 2007 1.71 2006 1.61 2005 1.76 2004 2.20 2003* 2.42 2002* 2.49 0 0.5 1 1.5 2 2.5 3 3.5 4 Maximum Ratio under current US PP programs Maximum Ratio under other PP programs and syndicated revolving credit facility * Based on
Slide 73: Balanced debt repayment schedule
Balanced debt repayment schedule 2010 Overall weighted average interest rate 5.2% In EUR mln 250 200 150 100 50 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2029 2040 – – – Results 2010 73
Slide 74: Agenda
Agenda Achievements 2010 Business environment Growth projects Business performance Financing Outlook Details and definitions used in this presentation are derived from the full year 2010 press release and Annual Report, which are leading. – – – Results 2010 74
Slide 75: Subsequent Event: Sale of 20% equity stake Vopak Terminal Bahamas
Subsequent Event: Sale of 20% equity stake Vopak Terminal Bahamas In February 2011 Vopak decided to sell its 20% equity stake in Vopak Terminal Bahamas Expected after tax profit of over USD 150 million, to be recognized in Q1 2011 Proceeds of sale consist of: Over USD 168 million in cash Approximate
Slide 76: Outlook Assumptions
Outlook Assumptions Oil Industrial Biofuels and Chemicals terminals vegoils ~ 17.5 – 20.0% ~ 60.0% of EBIT ~ 7.5 – 10% ~ 12.5% of EBIT of EBIT of EBIT ROBUST SOLID MIXED MIXED Healthy demand for storage capacity Contract renewals + Some new storage capacity commissioned – – – Results 2010 76
Slide 77: Reconciling FY10 with FY11 outlook
Reconciling FY10 with FY11 outlook Actual 2010 EBITDA EUR 598.2 mln + -/- Expansions to be Tanks out-of-operation commissioned in HY2 Pre-operating expenses Contract renewals Continued uncertainty in Operational efficiency biofuels storage improvements / margin Divestment VTB management Costs associ
Slide 78: Outlook update
Outlook update Q3 2010 Updated 2010 2010 “For 2010 Vopak expects a EBITDA of “Realized EBITDA of EUR 598.3 million” at least EUR 585 million.” 2012 2011 “Based on its growth strategy and the “For 2011 Vopak expects EBITDA to grow by around 5%.” positive developments in 2010 Vopak could potentially a
Slide 79: EBITDA Outlook 2013: in the EUR 725-800 mln range
EBITDA Outlook 2013: in the EUR 725-800 mln range Outlook Guidance In EUR mln 2005 2006 2007 2008 2009 2010 2011 2013 725-800 +5% 598.2 513.4 429.3 EBITDA* 369.5 314.1 262.5 445.3 385.3 320.4 272.9 Long-term EBIT* 220.9 Long-termguidance guidanceROCE ROCEofof16% 16% 179.7 Bearing in mind substantial
Slide 80: Summary
Summary 17% EBITDA growth in 2010 • Vopak has realized a 16% (2010 EUR 598 mln: 2009 EUR 513 mln) • Vopak has realized a 8% EPS growth in 2010 (2010 EUR 2.08: 2009 EUR 1.92*) • Vopak proposes aa EUR EUR 1.25 0.70 Cash-Dividend Cash-Dividend per per share share (2009: EUR 0.625) • Vopak continues its
Slide 81: Results 2010
– – – Results 2010 81
Slide 82: Storage capacity under construction
Storage capacity under construction Location Ownership Product* cbm 2009 2010 2011 2012 China, Caojing 50% C 30,000 Brazil, Aratu 100% C 26,300 Netherlands, Europoort 100% O 160,000 Spain, Barcelona 50% O 155,200 Netherlands, MOT 16.67% O 360,000* Netherlands, Gate 42.5% LNG 540,000 China, Tianjin 5
Slide 83: Storage capacity under construction
Storage capacity under construction * O = Oil products, C = Chemicals, B = Biofuels, V = Vegetable oils, LNG = Liquefied Natural Gas Location Ownership Product* cbm 2009 2010 2011 2012 U.A.E., Fujairah 33% O 606,000 Netherlands, Vlaardingen 100% V/B 38,100 620,000 Netherlands, Westpoort 100% O 570,0
Slide 84: Forward-looking statement
Forward-looking statement This presentation contains statements of a forward-looking nature, based on currently available plans and forecasts. Given the dynamics of the markets and the environments of the 31 countries in which Vopak provides logistics services, the company cannot guarantee the accur
Slide 85: www.vopak.com
– – – – Results 2010 85 www.vopak.com