The world of Vopak Asia: 26 terminals in 10 countries
| Terminals |
: |
26 |
| Capacity |
: |
6.5 million cbm |
| Main products |
: |
Oil, chemicals, vegetable oil |
| Countries |
: |
Australia, China, Indonesia, India, Japan, Korea, Malaysia, Singapore, Thailand, Vietnam |
First Half 2011 Report
| In EUR millions |
HY1 2011 |
HY1 2010 |
|
| Revenues |
150.3 |
127.3 |
| Group operating profit before depreciation and amortization (EBITDA) |
117.6 |
100.7 |
| Group operating profit (EBIT) |
93.6 |
76.7 |
| Group operating profit (EBIT) -excluding exceptional items- |
93.6 |
76.8 |
| Average gross capital employed |
1,398.7 |
1,267.4 |
| Average capital employed |
944.3 |
872.4 |
| Return On Capital Employed (ROCE) -excluding exceptional items- |
19.8% |
17.6% |
| Occupancy rate |
95% |
92% |
| Storage capacity end of period (in million cbm) |
6.8 |
6.7 |
|
2010 performance in Asia
Market trends
In Asia, our operating profit rose by 33% to EUR 169.9 million in 2010. The increase can be attributed to, among others, large-scale capacity expansions realized in Singapore and other locations in 2009, as well as to improved economies of scale. At 92%, the occupancy rate in 2010 was slightly below the year before. In certain local markets, such as Indonesia, newly commissioned capacity has not been fully rented out as yet.
In 2010, economic development in Asia was supported by tax incentive packages and monetary measures in China, Thailand, Singapore and Indonesia. With China having been able to sustain its strong growth, it has driven developments in the rest of the world over the past two years.
A country that is in the process of development needs large volumes of chemicals, which explains the rapid growth of China’s petrochemical industry, largely driven by Chinese companies. Accordingly, Vopak’s growth will not come from facilitating imports, but rather from the activities of local Chinese producers. Besides China, the key growth areas in Asia are Singapore, India, Malaysia, Vietnam and Indonesia.
Key Figures
| EUR millions |
2010 |
2009 |
|
| Revenues |
206.2 |
166.3 |
| Operating profit before depreciation and amortization (EBITDA) |
217.9 |
164.2 |
| Operating profit (EBIT)* |
169.9 |
127.5 |
| Average gross capital employed |
1,336.1 |
1,048.3 |
| Average capital employed |
920.4 |
717,1 |
| ROCE |
18.5% |
17.4% |
| Storage Capacity (cbm) |
6,860,400 |
6,413,500 |
| Occupancy Rate |
92% |
93% |
|
Highlights
- Large-scale capacity expansions contribute to profit increase
- Growth in China driven by storage demand from local Chinese producers
- Capacity added and to be developed throughout the region
- Construction of two new terminals in China
