Q3 2012 Trading update - vopak.com€¦ · 2 Roadshow presentation Q3 2012 . Contents General Introduction Strategy update Business environment Growth projects Business performance

Roadshow presentation

Q3 2012 Trading update

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 accuracy and completeness of

such statements.

Unforeseen circumstances include, but are not limited to, exceptional income and expense items,

unexpected economic, political and foreign exchange developments, and possible changes to IFRS

reporting rules.

Statements of a forward-looking nature issued by the company must always be assessed in the

context of the events, risks and uncertainties of the markets and environments in which Vopak

operates. These factors could lead to actual results being materially different from those expected.

2 Roadshow presentation Q3 2012

Contents

General Introduction

Strategy update

Business environment

Growth projects

Business performance

Capital disciplined growth

Outlook


Vopak and storage since 1616Almost four centuries of history

Discharge of

oil barrels at

Charlois site

Rotterdam 1900

Porter early

1600

First barrels of oil in Rotterdam 1862


84 Terminals in 31 countries

And a number of terminals under construction.


Key figures and some of our customers

Employees

Terminals

Countries

Capacity**

Net Revenues ‘11

EBIT* ‘11

Market capitalization**

5,901 (incl. JVs)

84

31

29.9 Million cbm

€ 1,172 Million

€ 469 Million

€ 6.6 Billion

* Excluding exceptional items.** 30 September 2012.


Tank terminalKey role in oil and chemical supply chain

Customers

Oil, Gas and

Chemicals companies

Governments

Trading companies

Services

Storage

Blending

Break bulk

Make bulk

Drumming

Heating / cooling

Weighing

Products

Oil (derivatives)

Chemicals

Vegetable oils

Biofuels

Supply and transport

Vessels

Barges

Pipelines

Tank trucks

Rail wagons

Drums

LNG

LPG

Chemical

gases


Vopak’s role in the supply chain

Feedstock Production

FeedstockGathering

Production &Refining

ProductsTransmission

Independent Storage &Transshipment

Mid-Stream& End-userDistribution

Oil, Gas and Chemical supply chain


Strategic logistic functions of tank terminals

Vital link for incoming and outgoing

flows of oil and chemicals

Example

Rotterdam Europoort

Storage of products that are

exported or transferred to end users

Example

Vopak Terminal London

Complete integration with the

production process

Example

Sakra Terminal in Singapore


Logistics hub terminal

Example fuel oil Where large flows of products merge - logistics crossroad

Houston, Rotterdam/Antwerp, Singapore and Fujairah


Import/Export terminal

� Break or make bulk

� Local distribution


Industrial terminalStorage facilities integrated at chemical park

Vopak Terminals Singapore - Sakra Terminal

Exxon Mobil

Perstorp

Sumitomo Chemical

Mitsui Chemicals

Air Products

Chevron

Asahi Kasei Chemicals

SembCorp Utilities

Celanese

Kuraray

Dupont


Global mega trends drive Vopak’s markets

� GDP growth in

non-OECD� Increasing need

transport and

mobility

� Increasing

(sustainable)

energy need

� Population

growth, mainly

non-OECD


Non-OECD economies drive energy consumption growth,fossil fuels will remain the dominant energy provider until 2035

OECD China Rest of world

World primary energy demand by region in IEA New Policies ScenarioIn Mtoe

Source: IEA WEO 2010

World primary energy demand by fuel in IEA New Policies ScenarioIn Mtoe


Strengthening Vopak’s competitive position in a period of worldwide challenges

� Socio-economic unrests

(e.g. ‘Arab-spring’) � Geopolitical challenges� Financial turmoil and

economic uncertainties


Contents


Strategy update


Growth projects



Outlook


Customer LeadershipOperational Excellence

Our Sustainability Foundation

• Excellent People

• Health and Safety

Our ability to construct,

operate and maintain

our terminals to

deliver our service at

competitive costs

Our ability to create

a relationship

with our customers

Our ability to find or

identify the right location

for our terminals

Growth Leadership

• Environment Care

• Responsible Partner

A B C

17

Focused strategy and disciplined execution

Roadshow presentation Q3 2012

Sustainability themes within Vopak

Excellent People Health and Safety Environmental Care Responsible Partner

�Have the best

people and create

an agile and

solution driven

culture

�Provide a healthy

and safe workplace

for our employees

and contractors

�Be energy and

water efficient and

reduce emissions

and waste

�Be a responsible

partner for our

stakeholders


Personal and process safety

-50%

HY1 2012

0.6

HY1 2011

1.2

HY1 2010

1.8

The lost time injury rate (LTIR) Total injuries leading to lost time per million hours worked

by own employees and contractors

-11%

HY1 2012

2.5

HY1 2011

2.8

HY1 2010

3.7

Process Incidents

Number of incidents

Total Injury RateTotal injuries per million hours worked by own employees

-25%

HY1 2012

66

HY1 2011

88

HY1 2010

63


Various projects completed in HY2 2011Storage capacity increased by 2.3 million cbm

Acquired

(Joint Venture)

A’dam Westpoort 1 (100%) 620,000 cbm; oil products

Kandla (100%)

261,600 cbm; chemicals

Altamira

Altamira LNG terminal (60%)

300,000 cbm; LNG

Gate terminal (45%) 540,000 cbm; LNG

Note: Above examples not representative of all projects completed in HY2 2011.

A

20

Commissioned

Acquired

Commissioned

(Joint Venture)


A’dam Westpoort 2 (100%)

582,000 cbm; oil products

Tianjin Lingang (50%)


Note: Above examples not representative of all projects completed in YTD 2012.

Zhangjiagang (100%)


Gothenburg (100%)


Commissioned

Acquired

Fujairah (33.3%)


Projects commissioned YTD 2012Storage capacity increased by 2.1 million cbm

Commissioned

(Joint Venture)

A

21

Eemshaven (50%)



Strengthening competitive position of services to our customers

Sa

fety

Eff

icie

nc

y

22

B


Serving markets from a product perspective

� Customer segmentation

� Access to the right people

� Understand customer’s strategy

Account Management

� Port attractiveness

� Relevance for network

� Pro-active approach

Portfolio of Terminals

� Understand basic technology

� Understand imbalances

� Understand trade flow dynamics

Product strategy

Winning

clients and

ports

23

C


Contents


Strategy update


Growth projects



Outlook


Global product trends drive Vopak’s markets

Oil products Chemical products Biofuels & VegoilsLNG

� Global crude oil

trade business

� Europe’s gasoline

surplus and deficit

for middle distillates

� Closures of some

less competitive

refineries in the

Atlantic Basin

� Increasing demand

in Asia and lower

demand in Europe

� Feedstock

advantage in Middle

East

� Gulf re-emerges due

to shale gas

� Flows between US-

Brazil-Europe-Asia

� Market is expected to

grow

� Impact of annual

harvest and

regulatory

uncertainties

� A globalizing natural

gas market with new

business models

� LNG growth due to

imbalances, security

of supply and

environmental push

Assets Coryton Houston VlaardingenSmall scale LNG

Example of growth project


Vopak market definition

Vopak’s competitive environment is defined as non-captive

marine tank storage for liquid oil and chemical products

Definition

Primary competition Independent competition renting only to third parties

Secondary competition Partly using the capacity for storing own products

(Some traders, distributors, producers, state-owned companies)

Captive competition Producers & traders using their capacity for storing only

their own products


Market share according to the definition

Storage market (cbm) Oil Chemicals* Total

World Market 226 mln 57 mln 283 mln cbm

Primary Competition 146 mln 49 mln 195 mln cbm

Secondary Competition 80 mln 8 mln 88 mln cbm

Vopak Market Share

As % of total market 7% 20% 10.0%

As % of primary competition 12% 24% 14.6%

Vopak 16.8 mln 11.6 mln 28.4 mln cbm

* Chemicals include chemicals, vegoils, biofuels and gasses. Note: In mln cbm per July 2012; excluding storage market for LNG.


Demand growth in storage marketto support international trade flows

Additional Worldwide Storage Capacity* Total

World Market, incl. Vopak 32.4 mln cbm

Growth % 11.4 %

Vopak 5.3 mln cbm**

Growth as % of Vopak capacity 18.7%***

* Based on disclosed projects per July 2012.** Including the acquisition of the assets of the former Coryton refinery (UK) by means of a strategic consortium. *** Based on current storage capacity of 28.4 million cbm per July 2012 (excluding storage capacity for LNG).


Vopak: the global market leader

Note: Including inland capacity and Joint Ventures.Source: Vopak; company websites.

29

0 5 10 15 20 25 30

Dalian Port

Odfjell

SUMED

CIM

Sunoco

Horizon

IMTT

Vitol

CLH

Buckeye

Magellan

NuStar

Kinder Morgan

Oiltanking

Vopak

Storage capacity as per July 2012

In mln cbm


Contents


Strategy update


Growth projects



Outlook


Capacity developments

In mln cbm

* Including net change at various terminals (including decommissioning).** Including the acquisition of the assets of the former Coryton refinery (UK) by means of a strategic consortium.

0,5

0,10.8

1.2

31-12-

2011

27.8

+4.7**

+2.1

31-12-2014

Expansions* AcquisitionNew terminals

3.2

Expansions

34.6

30-09-2012

29.9

AcquisitionNew terminals

1.0

31

Capacity growth under construction


32

Under construction

Pengerang (44%)

1,284,000 cbm; oil products

Europoort (100%)


Hainan (49%)

1,350,000 cbm; oil products

Algeciras (80%)


Note: Above examples not representative of all projects under construction.

Thames Oil Port (33.3%)


Acquired (Joint Venture)

Various projects under constructionTotal storage capacity under construction 4.7 million cbm

Under construction

(Joint Venture)


Storage capacity under construction (1)

Location Ownership Product cbm 2010 2011 2012 2013 2014

China, Coajing 50% C 16,000

Spain, Algeciras 80% O 403,000

Netherlands,

Rotterdam100% C 20,000

Singapore,

Banyan69.5% C 100,200

UK, assets former

Coryton refinery*33.3% O 500,000

China, Tianjin 50% LPG 240,000

China, Lanshan 41.7% C 40,000

Australia, Sydney 100% Bitumen 21,000

* Acquisition of the assets of the former Coryton refinery (UK) by means of a strategic consortium.


Storage capacity under construction (2)

Location Ownership Product cbm 2010 2011 2012 2013 2014

Brazil, Aratu 100% C 15,300

Netherlands,

Vlaardingen100% V/B 140,000

China,

Dongguan50% C 153,000

Spain, Barcelona

Terquimsa50% C 18,800

China, Hainan 49% O 1,350,000

Malaysia,

Pengerang44% O 1,284,000

Netherlands,

Europoort100% O 400,000

Total additional storage capacity (in million cbm) 2.1 1.4* 3.3

Accumulated storage capacity (in million cbm) 27.8 29.9 31.3* 34.6*

* Including the acquisition of the assets of the former Coryton refinery (UK) by means of a strategic consortium.


Contents


Strategy update


Growth projects



Outlook


Financial performance is fuelled by different value drivers

Occupancy improvements

2003-06 2007-09 2010-2011 2012 >

Operational efficiency gains

Capacity expansion

PresentNear PastPastPresent/

Future

Playing field between 90 - 95%


37

Q3

91

Q2

90

Q1

93

Q4

94

Q3

93

Q2

93

Q1

92

Q4

92

Q3

92

Q2

93

Q1

93

Q4

93

Q3

93

Q2

95

Q1

95

Q4

95

Q3

94

Q2

95

Q1

96

’07

96

’06

94

’05

92

’04

84

Occupancy rate

In percent

90-95%

Healthy occupancy rates between 90-95%

2008 2009 2010 2011 2012


Vopak is well positioned to maintain healthy EBIT(DA) margins

38

EBIT(DA) Margin*

In percent

Focus on logistic efficiency improvements for our clients

has led to increased EBIT(DA) margins

* Excluding exceptional items; excluding net result from Joint Ventures.

EBIT Margin

EBITDA Margin

0

10

20

30

40

50

2004 2005 2006 2007 2008 2009 2010 2011 2012HY1 2012


Development of storage capacity

Storage capacity

In mln cbm

Subsidiaries

Joint Ventures

* Including the acquisition of the assets of the former Coryton refinery (UK) by means of a strategic consortium.

Note: for the Joint Ventures 100% of the storage capacity is included.39

27.1

17.5

9.6

2007

21.8

16.7

5.1

+6.0

+6.8

2014

34.6

21.5

13.1

2013

21.0

10.3

2012

29.9

9.6

2011

27.8

19.7

8.1

2010

28.8

18.3

10.5

2009

28.3

18.1

10.2

2008

20.3

31.3


Contract duration portfolio did not change significantly since 2008

Contract position 2008

In percent of revenues

Contract position 2011

In percent of revenues

> 3 year 44%

1-3 year

37%

< 1 year

19%

> 3 year39%

1-3 year

41%

< 1 year

20%


Q3 2012 Summary

41

EBITDA*

In million EUR

144.0+19%

Q3 2012Q3 2011

121.3

EBIT*

In million EUR

* Including net result from Joint Ventures; excluding exceptional items.

195.1163.5 +19%

Q3 2012Q3 2011

Storage capacity

In mln cbm

-2pp93.0 91.0

Q3 2012Q3 2011

Occupancy rate

In percent

+10%27.2 29.9

Q3 2012Q3 2011


EBIT(DA) and net result of Joint Venture developments

42

EB

ITD

A*

EB

IT*

* Including net result from Joint Ventures.Note: in EUR million; excluding exceptional items.

+19%

144.0121.3

+19%

195.1163.5

+7%

Q3 2012

26.4

Q3 2011

24.7

Re

su

lt

JV

s

+25%

572.8458.8

+25%

423.9339.2

+24%

YTD 2012

83.0

YTD 2011

66.9


Except from EMEA, all regions contribute to the 19% EBIT increase

+6%

Q3 2012

8.5

Q3 2011

8.0

North America

+21%

Q3 2012

50.8

Q3 2011

41.9

Netherlands

+26%

Q3 2012

56.6

Q3 2011

45.0

Asia

+4%

Q3 2012

7.3

Q3 2011

7.0

Latin America

-6%

Q3 2012

22.4

Q3 2011

23.9

EMEA

+19%

Q3 2012

144.0

Q3 2011

121.3

EBIT

Global LNG

+100%

Q3 2012

5.6

Q3 2011

2.8

Note: EBIT in EUR million; excluding exceptional items; including net result from Joint Ventures43 Roadshow presentation Q3 2012

Strategic alliances support Vopak’s growth strategy

44

* For the Joint Ventures 100% of the storage capacity is included; including projects under constructions for the period Q4 2012-2014.

** Excluding exceptional items.

Net result from Joint Ventures**

In mln EURStorage capacity*

In mln cbm

Subsidiaries

Joint Ventures

26.4+7%

Q3 2012Q3 2011

24.7

34.6

21.5

13.1

2013

31.3

21.0

10.3

2012

29.9

20.3

9.6

2011

27.8

19.7

8.1

2014

28.8

18.3

10.5

2009

28.3

18.1

10.2

2008

27.1

17.5

9.6

2007

21.8

16.7

5.1

2010


EBITDA

195.1+19%

Q3 2012Q3 2011

163.5

EBITDA Subsidiaries and net result from Joint Ventures

226.7

+27%

Q3 2012Q3 2011

178.8

EBITEBITSubsidiaries and net result from Joint Ventures

* Vopak consolidated including proportional consolidation of joint ventures in tank storage activities.Note: In million EUR; Excluding exceptional items.

144.0+19%

Q3 2012Q3 2011

121.3

159.6

+26%

Q3 2012Q3 2011

126.5

IFRS equity accounting Proportionate consolidation*


Net Finance costs aligned with expansion program

-43.5Net finance costs

4.8

48.3Finance costs

Interest and

dividend income

Net finance costs HY1 2011*

In EUR mln

43.5

-41.3

2.2

4.4

HY1 2012

2011

4.7

2010

5.2

2009

5.4

2008

5.4

2007

6.3

2006

7.0

Average interest rate

In percent

1,431.4

2010

1,605.6

20112009

1,017.7

2008

996.7

2007

561.9

2006

425.7

HY1 2012

1,793.4

Net interest bearing debt

In EUR mln

Net finance costs HY1 2012

In EUR mln

* The increase was mainly attributable to the exceptional loss of EUR 5.0 million related to the sale of Vopak’s 20% equity stake in BORCO (Bahamas).46 Roadshow presentation Q3 2012

Effective tax rate HY1 2012

Effective Tax Rate

In percent

+49%30.3

45.2

HY1 2012HY1 2011

TaxIn EUR mln

0.018.9 18.9

HY1 2012HY1 2011

8.9

10.0

� In 2011, EUR 108.5 million of book

gain on the sale of our 20% equity

stake in BORCO (Bahamas) was

exempted for tax purposes

� Excluding exceptional items, the

effective tax rate for HY1 2011

amounted to 18.9%


Sources and uses of cash in HY1 2012

Net Cash position

30/06/2012*

-9.7

FX

1.3

Other

financing

activities

210.9

Dividend

paid in

cash**

110.1

Derivatives

settlement

9.9

Disposals

19.2

Invest-

ments

296.6

Tax paid

20.9

Net finance

costs paid

34.7

Gross

operating

cash flow

298.1

Net Cash position 1/1/2012*

-67.0

Consolidated Statement of Cash Flows

In EUR mln

* Including bank overdrafts.** Including dividend paid in cash on financing preference shares.


FX translation-effect on EBIT

Total 2.3

Non allocated 0.0

Latin America 0.2

North America 1.6

Asia 2.2

EMEA (1.7)

2009In EUR mln

25.9

(0.8)

3.2

2.6

17.4

3.5

2010In EUR mln

2.6

0.1

(0.7)

(1.6)

5.4

(0.6)

2011In EUR mln

10.0

(0.3)

0.1

1.1

8.2

0.9

HY1 2012In EUR mln


Consequences IAS 19 Employee BenefitsEffect on comparative figures 2012 as a result of application amendment in 2013

Total effect on Equity attributableto owners of parent at 30 June 2012 -167.0

Net result recognized through

statement of income in HY1 20121.5

Total recognized directly in equitythrough Other comprehensive income -168.5

Income tax 31.7

Actuarial gains and losses

in HY1 2012123.9

Income tax 31.1

Actuarial gains and losses

at 1 January 2012107.4

Total effect on equityIn EUR mln

� Removal 10% corridor approach

(higher volatility in net pension

liability)

� Weighted average discount rate

reduced from 4.68% to 4.26%*

� Only service and net finance

cost in P&L (rest of changes in

other comprehensive income)

� Change of discount rate for the

expected returns on plan assets

(generally lower rate than used

under current IAS 19)* From 31 December 2011 to 30 June 2012.


50,848,345,946,241,934,733,5

+21%

Q3 2012Q2 2012Q1 2012Q4 2011Q3 2011Q2 2011Q1 2011

EBIT*

In EUR million


Storage capacity

In mln cbm

Occupancy rate

In percent

Netherlands- New oil storage capacity on stream in Eemshaven- Lower occupancy rates in crude and gasoil storage

95

Q3 2011

95

Q2 2011

93

Q1 2011

92 89

Q3 2012

-6pp

87

Q1 2012

93

Q4 2011 Q2 2012

9,57,6 +25%

Q3 2012Q3 2011



EMEA- Lower net result joint ventures and lower result in Sweden- Higher throughputs in the UK

52

22,428,224,123,323,923,322,4

-6%

Q3 2012Q2 2012Q1 2012Q4 2011Q3 2011Q2 2011Q1 2011

EBIT*

In EUR million

Storage capacity

In mln cbm

Occupancy rate

In percent-4pp

Q3 2012

87

Q2 2012

87

Q1 2012

89

Q4 2011

91

Q3 2011

91

Q2 2011

90

Q1 2011

89

9,08,4+7%

Q3 2012Q3 2011



Asia- Strong storage demand for the hub terminals- Currency translation gain of EUR 5.3 million on EBIT

53

+26%

Q3 2012

56.6

Q2 2012

53.6

Q1 2012

53.6

Q4 2011

46.7

Q3 2011

45.0

Q2 2011

46.2

Q1 2011

47.4

EBIT*

In EUR million

Storage capacity

In mln cbm

Occupancy rate

In percent +2pp

Q3 2012

94

Q2 2012

95

Q1 2012

95

Q4 2011

95

92

Q1 2011 Q2 2011 Q3 2011

9594 7.3+3%

Q3 2012Q3 2011

7.1


North America- Higher occupancy rates- Relatively higher operating costs


54

+6%

Q3 2012

8.5

Q2 2012

9.2

Q1 2012

10.6

Q4 2011

8.9

Q3 2011

8.0

Q2 2011

7.1

Q1 2011

9.8

EBIT*

In EUR million

Storage capacity

In mln cbm

Occupancy rate

In percent +3pp

Q3 2012

96

Q2 2012

95

Q1 2012

97

Q4 2011

96

Q3 2011

93

Q2 2011

92

Q1 2011

91 2.30%

Q3 2012Q3 2011

2.3



Latin America- Higher occupancy rates- Ceased operation of the terminal in Ilha Barnabé in Brazil

55

7,35,3

7,47,57,06,47,3

+4%

Q3 2012Q2 2012Q1 2012Q4 2011Q3 2011Q2 2011Q1 2011

EBIT*

In EUR million

Storage capacity

In mln cbm

Occupancy rate

In percent +3pp

Q3 2012

88

Q2 2012

86

Q1 2012

90

Q4 2011

89

Q3 2011

85

Q2 2011

92

Q1 2011

91

1,01,1

Q3 2011

-9%

Q3 2012


Contents


Strategy update


Growth projects



Outlook



4,240

20112010

3,831

2009

3,136

2008

2,634

2007

2,133

59%62%

58%

60%57%

41% 38% 42% 40% 43%

Total equity and liabilities

In mln EUR

Liabilities

Equity


Capital disciplined growth: Total investments

Q4 2012-

2014

~900-1,100

~400

2009-

HY1 2012

2,108

2006-2008

1,514

Total Investments 2006-2014

In million EUR

Other Capex*

* Sustaining and Improvement Capex.** Including remaining equity share in Joint Ventures; excluding our part of Capex related to the upgrading of

the assets of the former Coryton refinery into Thames Oil Port (UK).Note: Total Capex related to 4.2 mln cbm under construction is ~EUR 1.5 bln.

Expansion Capex**

~500-700297

711

565535

800

446

268

HY1

2012

201120102009200820072006

Total investments 2006-HY1 2012

In million EUR


A new US PP Notes Program of USD 1 billion - Reconfirmation of Vopak’s access to capital markets- 37 Institutional investors, of which 10 new investors- Repay outstanding debt and for other general corporate purposes

59

A senior tranche of ~USD 900 million*

� Maturities ranging from 10.5 to 14.5 years

� An average annual interest rate of 3.94%

A subordinated tranche of ~USD 100 million*

� Maturity of 7 years

� An average annual interest rate of 4.99%

* The majority of the Notes is denominated in USD.Note: The proceeds of the new US PP will be made available towards the end of 2012.Roadshow presentation Q3 2012

Balanced debt repayment schedule- New US PP will further align the maturity profile of the outstanding debt- Syndicated Revolving Credit Facility provides flexibility in financing

Debt repayment schedule*In mln EUR

020402029202820272026202520242023202220212020201920182017

1,300

2015

1,200

200

100

2016201420132012

* As of 30 September 2012, including new US PP. Note: The proceeds of the new US PP will be made available towards the end of 2012.

60

Other

Asian PP

Current US PP

New US PP 2012

New US PP 2012 (subordinated)

RCF (will be repaid with proceeds new US PP)

RCF flexibility


Capital disciplined growth: Strategic finance

61

0

1

2

3

4

5

2011

2.65

2010

3.75

2.63

2009

2.23

2008

2.54

2007

1.71

2006

1.61

2005

1.76

2004

2.20

2003*

2.42

Q3 2012

2.55

Net senior debt : EBITDA ratio

* Based on Dutch GAAP.

Maximum Ratio under current US PP program

Maximum Ratio under other PP programs and syndicated revolving credit facility


2011 Dividend amounts to EUR 0.80 per ordinary share

2.16+4%

+14%

2011

0.80

2010

2.08

0.70

2009

1.92

0.625

2008

1.62

0.55

2007

1.31

0.475

2006

0.98

0.375

2003 2004 2005

0.64 0.630.81

0.25 0.25 0.30

Dividend and EPS 2003-2011**In EUR

* Excluding exceptional items; attributable to holders of ordinary shares.** Excluding exceptional items; historical figures adjusted for 1:2 share split effectuated May 17, 2010.

Cash Dividend

Dividend policy: “Barring exceptional circumstances, the intention is to

pay an annual cash dividend of 25-40% of the net profit*”


Contents


Strategy update


Growth projects



Outlook


Outlook assumptions

Note: width of the boxes do not represent actual percentages.

~x% Share of EBIT

Solid

Oil products Chemicals Biofuels & Vegoils LNG

Robust

~60%

Mixed Solid

<1%

Mixed

~17.5-20%

Industrial terminals

~12.5% ~7.5-10%

2011

~60% ~2.5-5%~17.5-20% ~10% ~7.5%

2012


Vopak remains on track to achieve its 2013 outlook of EUR 725-800 million EBITDA in 2012

65

636,0598,2

513,4429,3

369,5314,1

262,5231,8

2016

1,000

2012

725-800

572.8

20112010200920082007200620052004

EBITDA Development and outlookIn EUR mln

Note: Excluding exceptional items; including net result from Joint Ventures.

Historical results

Outlook

� It is Vopak’s

ambition to

realize an

EBITDA of

EUR 1 billion

in 2016

Ambition


It is Vopak’s ambition to realize an EBITDA of

EUR 1 billion in 2016The year of 400 years of

entrepreneurship

Royal Vopak

Westerlaan 10 Tel: +31 10 4002911

3016 CK Rotterdam Fax: +31 10 4139829

The Netherlands www.vopak.com

The world of Vopak


Documents

Q3 2012 Trading update - vopak.com€¦ · 2 Roadshow presentation Q3 2012 . Contents General Introduction Strategy update Business environment Growth projects Business performance