Divestments and investments of Royal Vopak
The tank storage company Royal Vopak achieved revenues of EUR 296.9 million in Q1/2020. Ebitda amounted to EUR 200 million compared to EUR 215 million (pre-divestments) in Q1/2019. On 31 January 2020, Vopak completed the earlier announced divestment of its 100% shareholding in the terminal in Algeciras (Spain), thus generating a cash inflow of EUR 135 million. The recognized exceptional loss before taxation was EUR 1.7 million. This completed the terminal divestment programme in Algeciras, Amsterdam and Hamburg with a total exceptional gain of EUR 200 million recognised in the periods 2019 and Q1/2020.
As future projects, Vopak and Keppel Data Centres Holding have just signed an MoU to conduct a feasibility study of establishing LNG and possibly hydrogen infrastructure for LNG-to-power infrastructure in Singapore. Furthermore, Vopak announced an initial investment in the 50/50 joint venture Vopak Moda Houston terminal located in the Houston Ship Channel (USA). The new terminal in Texas is expected to be commissioned in phases from the end of 2020 up to H2/2021. (mw)