Increased tankage has pushed up Royal Vopaks profits for the first half of 2009. Revenues have increased by 8.4% relative to the first half of 2008 from 453.9 million to 492.1 million, while operating profit excluding exceptional items has increased by 17.5% from 156.8 million to 184.2 million.
The total group operating profit for the first half of 2009 before depreciation and amortisation is 246 million, a figure Vopak intends to double by the end of the year.
Vopak has added 0.8 million m3 storage space worldwide in the first half of 2009, taking the total capacity to 27.9 million m3. Another 2.8 million m3 is planned by 2011.
During the first half of 2009, a number of large new projects came on stream on schedule. All these efforts and the robust demand for our storage services, especially in the oil business, led to a significant rise in our half-year group-operating profit, says John Paul Broeders, chairman of Royal Vopaks executive board.