Koninklijke Vopak (VPK) Investor Presentation summary

Strategic positioning and market fundamentals

• Maintains a leading global position in independent liquid bulk storage with 76 terminals in 23 countries and a 91% occupancy rate as of FY 2023.

• Well-diversified portfolio supports energy security and transition, serving over 1,000 customers and 35+ joint venture partners globally.

• Positioned to leverage strong market fundamentals, with global energy demand projected to rise by over 8% by 2030 and additional low-carbon options emerging.

• Actively expanding LNG and LPG infrastructure, with global LNG demand expected to grow 44% and LPG by 20% by 2050.

• Industrial terminal footprint growing, with long-term contracts and expansion in major global clusters.

Financial performance and growth

• Proportional EBITDA for HY1 2024 increased by 10% year-on-year to EUR 599 million, with a 92% occupancy rate and a 16.7% operating cash return.

• Strong cash flow generation supports both shareholder returns and growth investments, with a low leverage ratio of 1.76x and a EUR 1.50 per share dividend approved.

• EUR 891 million invested in industrial and gas terminals since 2022, with EUR 1 billion growth capex targeted by 2030 for both industrial/gas and new energies/sustainable feedstocks.

• Portfolio transition towards stable, long-term returns, with divestments in chemical distribution terminals and increased investment in gas and industrial assets.

• Updated FY24 outlook expects proportional EBITDA of EUR 1,150–1,180 million and consolidated growth capex around EUR 350 million.

Sustainability and energy transition

• Five lines of action for decarbonizing operations: energy efficiency, renewable energy, renewable electricity, electrification, and cleaner fuels.

• Achieved a 37% reduction in scope 1 & 2 emissions since 2021 baseline, with further reductions in HY1 2024 due to renewable electricity procurement.

• MSCI ESG rating of AAA, strong safety performance, and top 25% governance ranking among peers.

• Investing in infrastructure for CO2, hydrogen, and electricity storage, with first steps taken in Rotterdam and Alemoa for renewable feedstock and CO2 terminals.

• EUR 1 billion growth capex by 2030 committed to new energies and sustainable feedstocks, with 80-90% expected for new energy infrastructure.