Royal Vopak NV (VOPKY)
OTHER OTC:VOPKY
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Earnings Data
Report Date
Jul 29, 2026Before Open (Not Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
2.99Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive operational and financial start to 2026: healthy occupancy (91%), proportional EBITDA of EUR 295 million with ~4.2% organic growth, strong cash conversion (76%) and reaffirmed full‑year guidance (proportional EBITDA EUR 1.15–1.20 billion; operating free cash flow ~EUR 800 million). Management also highlighted clear progress on key growth projects (Gate tank #4, REEF LPG, Deer Park biofuels) and a disciplined capital allocation strategy including EUR 1.7 billion shareholder distributions and a EUR 4 billion investment ambition through 2030. The main negatives were elevated uncertainty and operational impacts from the Middle East conflict (including ~8% Fujairah capacity out of service), a small decline in gas terminal performance, and currency/divestment headwinds (EUR 15m and EUR 2m respectively). Taken together, the positives — solid organic growth, strong cash generation, low adjusted leverage and visible near‑term project commissions — materially outweigh the current geopolitical and FX headwinds, though management cautioned uncertainty remains and they will continue to monitor customer stress and FID timelines.Company Guidance
High Utilization and Healthy Demand
Proportional occupancy remained strong at 91% in Q1 2026, reflecting healthy customer demand across Vopak's network despite market volatility.
Improved EBITDA and Clear Financial Guidance
Proportional EBITDA was EUR 295 million in Q1 2026; adjusted for negative currency translation and divestments proportional EBITDA increased ~4.1–4.2% year‑over‑year. Management reconfirmed full‑year 2026 guidance: proportional EBITDA EUR 1.15–1.20 billion and proportional operating free cash flow around EUR 800 million.
Strong Cash Conversion and Free Cash Flow Growth
Vopak converted 76% of proportional EBITDA into operating free cash flow, delivering an operating cash return of 16.6%. On an autonomous basis (ex‑currency and divestments), proportional operating free cash flow per share increased 7.1% versus Q1 2025.
Disciplined Balance Sheet and Low Leverage (Excluding U/C)
Proportional leverage remained stable at 2.6x. Excluding assets under construction, proportional leverage was 1.99x — the lowest level in over five years — supporting capacity to invest while maintaining financial discipline.
Tangible Progress on Growth Projects
Material project milestones: Gate terminal 4th tank ~90% complete and on track for end‑Q3 2026 commissioning; REEF LPG export terminal in West Canada progressing; Deer Park biofuels repurposed capacity commissioned; Terquimsa FID in Spain and Europoort repurpose (pyrolysis oil) FID taken. Growth projects contributed ~EUR 9 million EBITDA in Q1 2026.
Committed Growth CapEx and Near‑term Commissions
Since 2022 Vopak committed ~EUR 1.9 billion to grow gas and industrial terminals: ~EUR 650 million already commissioned (contributing to results) and ~EUR 1.3 billion under construction. Expect ~EUR 775 million to be commissioned near year‑end (mainly Gate tank #4 and the Canadian LPG export terminal).
Capital Return Plan to Shareholders
Management reaffirmed distribution of around EUR 1.7 billion to shareholders through year‑end 2030 via progressive dividends and a multiyear share buyback program, and an ambition to invest EUR 4 billion (proportional) by 2030 to support the energy transition.
Portfolio Resilience and Contract Duration
Shift toward gas and industrial terminals increased contract duration and reduced short‑term volatility exposure; management emphasized the diversified portfolio as a structural strength amid geopolitical and market disruption.
VOPKY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
VOPKY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 22, 2026 | $47.85 | $49.14 | +2.69% |
Feb 25, 2026 | $49.39 | $53.13 | +7.57% |
Nov 05, 2025 | $43.31 | $42.16 | -2.67% |
Jul 30, 2025 | $44.74 | $45.95 | +2.70% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Royal Vopak NV (VOPKY) report earnings?
Royal Vopak NV (VOPKY) is schdueled to report earning on Jul 29, 2026, Before Open (Not Confirmed).
What is Royal Vopak NV (VOPKY) earnings time?
Royal Vopak NV (VOPKY) earnings time is at Jul 29, 2026, Before Open (Not Confirmed).
Where can I see when companies are reporting earnings?
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What is VOPKY EPS forecast?
Currently, no data Available