2022 – A Year of Growth and Recovery for Van Oord

From an operational and financial perspective, the year 2022 was one of growth and recovery for Van Oord. It was not an easy year; external factors created problems within the supply chain, putting pressure on prices and planning. This had a major impact on their projects and thus on our clients.

The complex project portfolio was under control by the end of the year and the net result increased. The company ended the year with a well-filled order book and a positive outlook for our markets. They envisage two major drivers for the future: the rapidly increasing demand for climate adaptation solutions and offshore energy projects.

The year in figures:

• Revenue: EUR 2 billion
  • 2021: 1.5 billion
• EBITDA: EUR 243 million
  • 2021: EUR 67 million
• Net profit: EUR 60 million
  • 2021: EUR -62 million
• Operational cash flow: EUR 62 million
  • 2021: EUR 50 million
• Order book: EUR 4.3 billion
  • 2021: 4.4 billion
• Net debt EUR 178 million
  • 2021: EUR 62 million
• Solvency ratio: 32.4%
  • 2021: 33.4%*
• Investment in equipment: EUR 227 million
  • 2021: EUR 208 million
• Number of employees (FTEs): 5,243
  • 2021: 4,725
• Number of nationalities: 89
  • 2021: 83
• Scope 1 greenhouse gas emissions (tonnes x 1,000): 475.3
  • 2021: 390.1
• Relative emissions per euro revenue (Scope 1 t CO2e/EUR mio Revenue): 235,2
  • 2021: 257,2)

* comparative figures for 2021 have been adjusted due to modified reporting guidelines.

Pieter van Oord, CEO, “The year 2022 proved to be one of the most turbulent years in Van Oord’s 154-year history. Market conditions and operational challenges demanded that we pull out all the stops, with the aim of ensuring recovery and a positive result.

Pieter van Oord, CEO

We take a positive view of what lies ahead of us. Market conditions are favourable, and Van Oord has made a timely decision to invest substantially in new and sustainable equipment. The last two decennia Van Oord has developed itself to market leader in Offshore Wind in the Netherlands. The first of our three new award-winning LNG trailing suction hopper dredgers was launched in 2022, with the launch of the next one scheduled for tomorrow, 14 March and the second in September.

I wish to express my special appreciation to all Van Oord employees for their dedication and commitment to the company, even during the difficult Covid years. We also wish to thank our many clients who made it possible to continue our operations during the pandemic. The company looks to the future with confidence.”

Source Van Oord