Finance News

Historic Record-Breaking 2023 for Boskalis

Royal Boskalis B.V. (Boskalis) has concluded a historic 2023. Both revenue and earnings reached a record level with all parts of the business contributing to these impressive figures.

Revenue increased by 20% to EUR 4.28 billion (2022: EUR 3.58 billion).

EBITDA increased 68% to EUR 1,016 million (2022: EUR 604 million) and EBIT increased 135% to EUR 701 million (2022: EUR 298 million).

Net profit increased by nearly 150% to EUR 601 million from EUR 241 million in 2022.

Peter Berdowski, CEO Boskalis commented: “2023 was a particularly successful year for Boskalis, in which we broke many records. Net profit rose by almost one hundred and fifty percent to a record high of over EUR 600 million and EBITDA to over one billion euros. It is great to see that all parts of the business contributed to these impressive figures. All our employees deserve a big compliment for the dedication, professionalism and teamwork with which we were able to achieve these successes.

At Dredging & Inland Infra, the vessels were very well occupied on large projects in the Middle East, Far East and Europe. We worked hard on the development of innovative infrastructure, such as the Fehmarnbelt tunnel in Denmark and Manila International Airport. We were also busy with various climate adaptation projects, such as the protection of a stretch of coast of Togo and Benin and closer to home, the reinforcement of the Markermeer dike north of Amsterdam. Climate adaptive measures received a lot of attention during COP28 in Dubai. With our coastal defense and riverbank protection activities, we offer innovative solutions to protect against the effects of climate change. The requirement for such measures became apparent late 2023 when large parts of Europe were under threat of flooding due to extreme weather.

With our Offshore Energy activities, we once again made a significant contribution to the energy transition. In 2023, we were involved in the construction of 29 offshore wind farms worldwide, accounting for 50% of our offshore revenue. We completed our first wind project in the United States and were busy with several wind projects in Taiwan and Europe. Our heavy transport vessels were involved in a large number of high-profile transports in 2023. Very recently, we acquired ALP Maritime. With this acquisition, we strengthened our position in the Anchor Handling Tugs (AHTs) market and added eight powerful vessels to our fleet. Finally, our previous additions to the group –Subsea Services and Marine Survey – again contributed strongly to the successful year.

Salvage once again managed to attract international media attention with the successful removal of 1.1 million barrels of oil from the 48-year-old FSO Safer in the Red Sea off Yemen. We are pleased that this operation was completed in time, before turmoil broke out in the region.

With pride we look back, and with confidence we look forward. We reaped the benefits of our Sustainable Growth strategy and 2024 also seems to promise a fine harvest. The order book is well filled, and the market outlook is also good. We will continue on our successful path of creating innovative infrastructure, protecting through climate adaptation and advancing the energy transition.”

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