You are here
Home | Development | Economy | Boskalis Reports Historic Record-Breaking Year with Over EUR 600 Million Net Profit

Boskalis Reports Historic Record-Breaking Year with Over EUR 600 Million Net Profit

Royal Boskalis B.V. (Boskalis) proudly announces its unprecedented success in 2023, marking a historic milestone in the company’s trajectory. The key figures for the year unveil a remarkable surge, with revenue, EBITDA, and net profit all soaring to new heights.

Key Figures 2023

  • Revenue: EUR 4.28 billion (2022: EUR 3.58 billion)
  • EBITDA: EUR 1,016 million (2022: EUR 604 million)
  • Net Profit: EUR 601 million (2022: EUR 241 million)
  • Order Book: EUR 6.01 billion (2022: EUR 6.11 billion)

The CEO of Boskalis, Peter Berdowski, expressed his elation, stating, “2023 was a particularly successful year for Boskalis, in which we broke many records.” The substantial increase in net profit by almost 150% to over EUR 600 million and EBITDA surpassing one billion euros is a testament to the concerted efforts across all facets of the organization.

Boskalis’ Dredging & Inland Infra segment witnessed substantial activity with vessels engaged in significant projects across the Middle East, Far East, and Europe. Noteworthy endeavors include the development of innovative infrastructure projects such as the Fehmarnbelt tunnel in Denmark and the Manila International Airport. The company also played a pivotal role in climate adaptation initiatives, highlighting its commitment to environmental sustainability.

In the Offshore Energy domain, Boskalis continued to drive the energy transition forward. The construction of 29 offshore wind farms globally, comprising 50% of offshore revenue, underscores its leadership in this sector. The acquisition of ALP Maritime further fortified its position in the Anchor Handling Tugs (AHTs) market, amplifying its capabilities.

Salvage operations garnered international acclaim, notably with the successful removal of 1.1 million barrels of oil from the 48-year-old FSO Safer in the Red Sea off Yemen. Such endeavors underscore Boskalis’ commitment to environmental preservation and safety.

Looking ahead, Boskalis remains optimistic, buoyed by a robust order book and favorable market outlook. The company is poised to sustain its momentum by continuing to innovate and deliver sustainable infrastructure solutions.

Divisional Developments

  • Dredging & Inland Infra: Notable projects included the construction of the new Manila airport, climate adaptation initiatives, and infrastructure developments in Singapore and Saudi Arabia.
  • Offshore Energy: Boskalis played a pivotal role in offshore wind projects worldwide, with significant contributions from Marine Transport & Services, Subsea Services, and Marine Survey units.
  • Salvage: Salvage operations showcased Boskalis’ expertise, with successful projects including the FSO Safer oil removal in Yemen and the rescue of the Dutch Wadden Islands from potential environmental catastrophe.

Financial Position

Boskalis maintains a healthy financial position, with a cash position of EUR 769 million and a net cash position of EUR 523 million. The solid solvency and well-filled order book instill confidence in the company’s outlook for 2024.

Safety & Personnel Developments

Safety remains a top priority at Boskalis, reflected in the NINA (No Injuries, No Accidents) safety program. The company’s focus on Human Excellence underscores its commitment to employee welfare and professional development.

Innovation

Boskalis’ innovative endeavors extend beyond its core operations, encompassing modifications to existing equipment, investment in fuel-efficient technology, and the adoption of alternative contract structures. The company’s commitment to sustainability is evident in its efforts to reduce environmental impact through innovative solutions.

Road to Net Zero

Boskalis is committed to reducing carbon emissions, aligning with the International Maritime Organization’s transition path to net-zero by 2050. Efforts to monitor progress and achieve a 10% reduction in carbon intensity by 2030 underscore the company’s dedication to environmental stewardship.

In conclusion, Boskalis’ stellar performance in 2023 underscores its resilience, innovation, and commitment to sustainability. As the company charts its course for the future, it remains steadfast in its pursuit of excellence and leadership in the maritime and infrastructure sectors.

Print Friendly, PDF & Email

“Disclaimer: “Breakbulk News & Media BV (Breakbulk.News) assumes no responsibility or liability for any errors or omissions in the content of articles published. The information and or article contained in these articles is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness or timeliness…”

blank
blank
blank
blank
Top