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Vopak posts lower first-quarter profits, sales; forecasts 5–10% full-year Ebitda decline

6:23 AM MDT | April 25, 2014 | Ian Young

Vopak reports a 15% decline in first-quarter net profit, excluding exceptional items, compared with the corresponding period last year, to €68 million ($94 million), on sales down 1%, to €318 million. Ebitda excluding exceptionals decreased 5% year-on-year (YOY), to €180 million, and Ebit excluding exceptionals declined 11%, €124 million. "We have not seen major improvements in our business climate as we continue to face challenges, mainly in the Europe, Mideast, and Africa [(EMEA)] region," says Vopak chairman and CEO Eelco...

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