Boskalis H1 2013 Results Pointing to Record Profit

MarineLink.com
Thursday, August 15, 2013
Boskalis Logo

In their half year 2013 report the Boskalis Board of Management expects that, barring unforeseen circumstances, net profit for the 2013 financial year will be at least EUR 330 million, including the book gain of approximately EUR 50 million on the sale of the 40% stake in Archirodon that will be accounted for in the second half of the year.

HIGHLIGHTS OF FIRST HALF 2013
    •    Revenue rises to record level of EUR 1.6 billion
    •    EBITDA of EUR 297 million
    •    Net profit of EUR 123 million
    •    Dockwise contributing to higher result
    •    Order book at EUR 4.5 billion
 
OUTLOOK FOR 2013
    •    Stable market conditions
    •    All-time high net profit expected of at least EUR 330 million
 
Royal Boskalis Westminster N.V. (Boskalis) realized a net profit of EUR 123 million in the first half of 2013 (H1 2012: EUR 102 million). Dockwise contributed EUR 15 million to this result. Revenue rose by 12% in the first half to EUR 1.6 billion (H1 2012: EUR 1.4 billion). Organic revenue growth was 4%.
 
EBITDA in the first half of the year amounted to EUR 297 million and the operating result (EBIT) was EUR 155 million (H1 2012: EUR 254 million and EUR 145 million, respectively). The results of Dockwise have been fully consolidated from the second quarter, which largely explains this increase. The Dredging segment realized a higher result while the result at Offshore Energy, adjusted for the contribution from Dockwise, was slightly lower than in the same period last year. The results at the Inland Infra and Towage & Salvage segments were in line with the results achieved in the same period last year.
 
At the end of the first half of the year the order book including Dockwise stood at EUR 4,525 million (end-2012: EUR 4,106 million).
 
Peter Berdowski, CEO Boskalis:
"We look back on a busy first half of the year in which we delivered a good operational performance but also took an important strategic step with the acquisition of Dockwise. This combination allows us to strongly expand our position in the offshore energy sector and offer new perspectives to both our clients and our staff. We have already made a good start with the integration of the two companies.

Within the Group we are also seeing how the various activities supplement and reinforce each other. Dredging combined with SMIT Salvage in India, offshore ordnance clearance in northern Germany using dredging and subsea services, and very recently SMIT Salvage with Dockwise in an initial dry-docking project involving the Vanguard.

The market conditions in the first six months of the year remained challenging but in spite of this capacity utilization of the large ships was good and we managed to keep the order book well filled, as a result of which we expect to achieve a healthy capacity utilization of the fleet for the remainder of the year. With this prospect, as well as the book gain we will realize in the second half of the year from the sale of our 40% stake in Archirodon, we expect to close the year with an all-time high net profit."

 

Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Aberdeen Pupils Peek into Subsea Oil & Gas Technology

Pupils at an Aberdeen primary school were given a rare insight into the depths of the oil and gas industry’s subsea sector after getting to sit in the driving

AVEVA, DNV GL's Sesam Integration Cuts Cost

Integration of Aveva and DNV GL's Sesam Reduces Costs in Maritime and Offshore Engineering. Engineers designing ship hulls and offshore floaters can now save

FORAN for Pertamina's Future Ships

FORAN has been chosen by state-owned company PERTAMINA to review the design of their future oil product carrier ships, under construction in a shipyard with the FORAN System.

Workboats

CNOOC Acquires Asia's 1st LNG Powered Tug

China National Offshore Oil Corporation (CNOOC) has taken delivery of Asia’s first tugboat Hai Yang Shi You 525, designed to operate solely on liquefied natural gas as ship’s fuel.

Injured Fisherman Medevaced off Alaska

An injured mariner was medevaced by U.S. Coast Guard (USCG) personnel near Sand Point, Wednesday, the USCG reported. Watchstanders at USCG District 17 command

Firefighting Vessel Delivered to the US Army

New Orleans based maritime solutions company Technology Associates, Inc. (TAI) informs it has completed its contract for the design and construction of a fast response

Finance

Grimaldi Orders Three PCTCs

After signing an order for the construction of five new ships two weeks ago, the Italian shipowner  Grimaldi Group has signed another contract for the construction

Caltex Replaces Australian Crew

The 36 Australian crew members of an Caltex tanker refusing to set sail after they were told their jobs would be gone after the next run. MR tanker Alexander Spirit (40,

Teekay LNG Partners Declares Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended June 30, 2015. The cash distribution is payable on August 14,

Dredging

BMT Awarded Port Geographe Coastal Engineering Contract

BMT JFA Consultants (BMT), a subsidiary of BMT Group,  has been awarded a contract by the Western Australian Department of Transport (DoT) to provide services as

Charleston Harbor Deepening Gets US Funding

Charleston Harbor deepening project earns key federal funding for preconstruction engineering and design; U.S. Army Corps of Engineers allocates $1.303 million

European Court Ups Standards for River Dredging

The European Court of Justice (ECJ) ruled on Wednesday that damage to water quality must be considered when authorities approve river dredging to expand ports,

Underwater Engineering

Aberdeen Pupils Peek into Subsea Oil & Gas Technology

Pupils at an Aberdeen primary school were given a rare insight into the depths of the oil and gas industry’s subsea sector after getting to sit in the driving

Technip Samsung JV Wins 2 FLNG Project Contracts

The Browse project covers the realization and installation of three FLNG units to develop the Brecknock, Calliance and Torosa fields in the Browse Basin, 425 kilometers North of Broome,

Fjords Processing Bags Johan Sverdrup Contracts

Fjords Processing, headquartered in Norway (Fornebu), has won three contracts for the deliveries of process systems for the Johan Sverdrup development in the North Sea.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1877 sec (5 req/sec)