Koninklijke Vopak Uns/Adr (VOPKY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the Royal Vopak Q2 2026 Results Update. Throughout the call, all participants will be in listen-only mode, and afterward there will be a Q&A session. This call is being recorded. I am pleased to present Dick Richelle, CEO of Vopak. Please go ahead with your meeting. Thank you very much. Good morning everyone, welcome to our Q2 2026 results analyst call. My name is Dick Richelle, I'm the CEO of Vopak and I'm joined here by Michiel Gilsing, our CFO. We will guide you through our latest results. Before we start, I'd like to refer to the disclaimer content of the forward-looking statement which you are familiar with. I would like to remind you that we make forward-looking statements during the presentation which involve certain risks and uncertainties. Accordingly, this disclaimer is applicable to the entire call, including the answers provided to questions during the Q&A session. With that, let's move on to the presentation. Before diving into the results, I'd like to start off with a brief recap of our strategy, which is anchored by three integrated pillars, improve, grow, and accelerate. The execution of our strategy has been strong. We have improved our financial and sustainability performance, and invested in gas, industrial and energy transition infrastructure that supports evolving needs of our customers. Let's move to our results. We delivered a strong first half of the year, driven by healthy, sustained demand for our services, reflected in an occupancy rate of 91%. Proportionally EBITDA grew by 5% compared to the first half of 2025. Our cash conversion remains solid at 74%, resulting in an operating cash return of 15.3% on a 12-month rolling basis. We made good progress on our growth strategy. In the Netherlands, we secured the continuation...