Vopak has raised its earning targets for 2026 as demand for storage capacity and its new projects boost earnings. Net profits for Q3 2026 reached €142 million, with Vopak forecasting end of year proportional earnings (before interest, taxes, depreciation and amortisation) to be between €1.20 billion and €1.22 billion.
Since 2022, Vopak has committed €1.7 billion towards gas and industrial terminals; €790 million is commissioned and contributing to results, while €930 million is still under construction. An example of a supported project is the recently-commissioned fourth LNG storage tank at Gate terminal in the Netherlands, which added 180,000m3 of storage capacity. Vopak is also pursuing an expansion project for its REEF terminal in Canada to increase capacity, while Aegis Vopak Terminals has successfully commissioned ammonia storage and handling capacity at its Pipavav terminal.
Dick Richelle, CEO of Vopak, comments: ‘Vopak delivered an outstanding quarter, in which our well-diversified portfolio, robust customer demand and strong contributions from our growth projects drove a record level of cash generation. As we navigate a volatile global landscape, we have demonstrated the ability to meet our customers’ evolving needs regarding energy security, affordability and sustainability. Our strategic investments in critical storage and handling infrastructure, such as the fourth LNG tank at the Gate terminal in Rotterdam, the REEF LPG export facility in Canada and ongoing expansions in India, directly meet these demands while reinforcing our market leadership. Since 2022, we have committed around €2.4 billion to growth projects, with €855 million already commissioned and delivering returns in line with targeted investment multiples. Supported by strong business performance and contributions from growth projects, we are raising our outlook for FY 2026.’
