Half Year 2020 Koninklijke Vopak NV Overview by CEO and CFO (Pre-Recorded) Transcript
Hello. My name is Eelco Hoekstra, Chairman of the Executive Board of Royal Vopak. We achieved good financial performance in the first half of 2020, in a more volatile business environment. This was possible, thanks to our customers and partners and the people working for Vopak. I acknowledge their extraordinary effort and commitment. We've been able to safely serve society by storing vital products with care during these unusual times. Allow me to elaborate on the financial performance of Vopak. We captured opportunities in our oil storage portfolio, resulting in improved occupancy rates. At the same time, we experienced reduced throughput for chemicals, in particular, in Houston and Singapore.
We initiated a further response in cost management to protect earnings. Relative to our original plan, we missed some contributions due to delays in growth projects and out-of-service capacity, as construction work was restricted in the second quarter. Fortunately, the value of these growth projects are not affected. So on
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