Vopak will release its 3Q11 trading update on Wednesday 9 November before opening of the market, followed by a conference call at 10.00 CET.
We expect EBITDA of € 155.8m (+1% y/y) and EBIT of € 112.5m (-1% y/y), including associates. Our EBIT estimates for the divisions are: CEMEA € 20.5m, OEMEA € 38.0m, Asia € 48.0m, North America € 7.5m, Latin America € 8.0m, and not-allocated € -9.5m. There is no consensus available.
We expect guidance to be repeated:
Guidance for FY 2011 is EBITDA including associates and excluding exceptional items of between € 600-640m.
Capital Markets Day on 11 November:
Vopak will host a capital markets day in Amsterdam. Speakers include the CEO, the CFO, the Global Directors for the product categories Oil, Chemicals, and Vegoils & Biofuels, and the Managing Director and the Commercial Director of the product category LNG. After the meetings, there will be a visit to the recently opened Amsterdam Westpoort terminal, which stores oil products.