VOPKF - Koninklijke Vopak N.V. (VOPKF) Q4 2023 Earnings Call Transcript
2024-02-14 17:04:11 ET
Koninklijke Vopak N.V. (VOPKF)
Q4 2023 Results Conference Call
February 14, 2024 04:00 AM ET
Company Participants
Fatjona Topciu - Head-Investor Relations
Dick Richelle - Chief Executive Officer
Michiel Gilsing - Chief Financial Officer
Conference Call Participants
Thijs Berkelder - ABN AMRO
David Kerstens - Jefferies
Quirijn Mulde - ING
Jeremy Kincaid - VLK
Andre Mulder - Kepler Cheuvreux
Presentation
Operator
Hello, and welcome to the Royal Vopak Full Year 2023 Update. [Operator Instructions] This call is being recorded.
I'm pleased to present Fatjona Topciu, Head of Investor Relations. Please go ahead with your meeting.
Fatjona Topciu
Good morning, everyone, and welcome to our Full Year 2023 Results call. My name is Fatjona Topciu, Head of IR. Today, our CEO, Dick Richelle; and CFO, Michiel Gilsing, will guide you through our latest results. Our COO, Frits Eulderink, is here as well and will be available for questions during the Q&A session. We will refer to the full year 2023 analyst presentation, which you can follow on screen and download from our website. After the presentation, we will have the opportunity for the Q&A. A replay of the webcast will be made available on our website as well.
Before we start, I would like to refer to the disclaimer content of the forward-looking statements, which you are familiar with. I would like to remind you that we may make forward-looking statements during the presentation, which involve certain risks and uncertainties. Accordingly, this is applicable to the entire call, including the answers provided to the question during the Q&A.
With that, I would like to turn over the call to Dick.
Dick Richelle
Thank you very much, Fatjona. And a very good morning to all of you joining us in the call. First of all, I'd like to share a few words on Frits Eulderink. Frits has been a familiar face for many of you in the call. And therefore, I'd like to take a moment to share our utmost appreciation for his valuable and significant contributions in the many areas of Vopak in the past 14 years. As announced in late-December, Frits will step down as EB member per April of this year. And we will miss Frits as a colleague, but most of all is a friend of Vopak.
Now, moving on to Slide #4 and the key highlights for 23. Throughout the year, the need for our services was strong across the portfolio, and we continued to serve our customers well. We delivered on our strategy to improve our financial and sustainability performance to grow our base in industrial and gas terminals and to accelerate towards new energies and sustainable feedstocks. We reported improved financial results by growing our EBITDA by €77 million to €964 million, which is a record result for Vopak. Also, our operating cash return improved significantly from 11.4% last year to 14% at the end of '23....
Koninklijke Vopak N.V. (VOPKF) Q4 2023 Earnings Call Transcript