Royal Vopak Holds FY2026 Guidance Despite Conflict

Royal Vopak reported Q1 2026 proportionate EBITDA of €294.6 million, a 2% decline but above the €286 million consensus.
The company reaffirmed full‑year 2026 EBITDA guidance of €1.15‑€1.20 billion, absorbing Middle East operational impacts affecting 5% of EBITDA.
Q1 capacity stayed at 20.5 million m³, occupancy fell 100 bps to 91%, while EBITDA margin rose 30 bps to 58.4%.
Vopak targets €1.7 billion cumulative cash returns by FY2030, with >5% dividend growth and up to €500 million share buyback.