Strong Half Year Results Posted by Boskalis – Heavy Lift News
17 Aug 2023

Strong Half Year Results Posted by Boskalis

KEY FIGURES FIRST HALF YEAR 2023

  • Revenue: EUR 1.97 billion
    (H1 2022: EUR 1.61 billion)
  • EBITDA: EUR 370 million
    (H1 2022: EUR 292 million including EUR 50 million exceptional gain)
  • Net profit: EUR 181 million
    (H1 2022: EUR 116 million including EUR 37 million exceptional items)
  • Order book: EUR 6.0 billion
    (End of 2022: EUR 6.1 billion)

Royal Boskalis B.V. (Boskalis) completed a good first half year. The utilization of the fleet was high and all divisions posted a higher revenue combined with a sharp result increase.

Compared to the same period last year, revenue increased by 22% to EUR 1.97 billion (H1 2022: EUR 1.61 billion).

EBITDA increased by 27% to EUR 370 million (H1 2022: EUR 292 million). Adjusted for a EUR 50 million book gain in H1 2022, EBITDA increased 53%.

Net profit increased by 56% to EUR 181 million (H1 2022: EUR 116 million, including EUR 37 million in exceptional gains and losses).

Peter Berdowski, CEO Boskalis, “We look back on a very strong first half year with good performance across the company, both operationally and financially. Revenue was up 22% and net profit increased by 56%.

In the Dredging division, our large vessels were busy in the Middle and Far East, resulting in high fleet utilization. In the Philippines, good progress was made with the construction of the platform for the new Manila International Airport. Closer to home, work on the Fehmarnbelt tunnel between Germany and Denmark is progressing and we started a large-scale beach replenishment program along the west coast of the island of Ameland.

Very recently we were all over the headlines in the news with a number of complex salvage operations. Off the northern coast of Ameland the large car carrier Fremantle Highway caught ablaze leading to a potential significant environmental and shipping disaster. Following a tense week, we succeeded in towing the ship into a safe harbour together with our partner. In recent months we were busy in the Red Sea in an attempt to avert an environmental disaster of even greater proportions. The FSO Safer has been anchored off the coast of Yemen for 40 years and this decaying storage tanker holding over 1.1 million barrels of oil had become a ticking time bomb. Last week, we succeeded in transferring all the oil from the Safer into a modern tanker. A huge compliment to our salvage teams who were able to complete these jobs under challenging conditions.

Our Offshore Energy division was also active on numerous projects and contracts in all corners of the world. All our business units were busy and the vessels were well utilized. Earlier this year we completed the conversion of the Bokalift 2, our newest offshore crane vessel, in Schiedam, the Netherlands. Following the conversion she departed late May for her first wind project, Southfork in the United States. Since then, all the foundations for this project off the coast of New York have been successfully installed. Furthermore in Taiwan, we recently completed a large multi-year offshore wind project. Looking at the past six months, we can conclude that the strategic course we set several years ago to serve both the traditional offshore market and the offshore wind market is clearly bearing fruit.

Over the past six months we succeeded in preserving the high level of our order book. With a portfolio of EUR 6 billion, we look to the future with great confidence and expect to amply exceed the 2022 result.”

 

Featured Title photograph

Boskalis’ Multipurpose Vessel Ndeavor which was recently in the Red Sea on the FSO Safer project

 

Source     

 

Related news