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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Livanos Becomes Euronav Chairman

On 22 July 2014, the Board of Directors of Euronav NV unanimously appointed Peter G. Livanos as Chairman of the Board, with immediate effect in replacement of Marc

MN 100: Scania USA Inc.

121 Interpark Blvd. Ste. 1002 San Antonio, Texas 78216 Tel: (210) 679-3126  Email: smurdock@scaniausainc.com Website: www.scaniausa.com President & CEO:

MN 100: gplink

1500 Sensation Weigh Beaufort, NC 28516 Tel: (252) 504-2640    Email: dwebb@gplink.com Website: www.gplink.com President & CEO: Greg Poole, III The Company: gplink

Workboats

Van Oord Dredger Returns to Gibdock

Part of the Van Oord fleet, the 137-meter-long trailing suction hopper dredger, Lelystad, has been through an extensive program of works at Gibdock in Gibraltar.

MN 100: Crowley

9487 Regency Square Boulevard Jacksonville, FL 32225 Tel: (800) 276-9539 Email: corpcomm@crowley.com  Website: www.crowley.com Chairman & CEO: Thomas B.

CAG Finance New SF Bay Tugboat

Capital Access Group (CAG) says that its $10.4 Million 504 Loan has enabled the acquisition of  a powerful, 85-ton tractor tugboat for San Francisco Bay – Baydelta Maritime's 'Delta Audrey'.

Finance

EU to Help Italy Cope with Boat Migrants

The European Commission said on Wednesday it would launch an EU version of Italy's sea rescue operation to help it deal with the droves of migrants crossing the

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

Port of Long Beach Raises Small Business Commitment

The Long Beach Board of Harbor Commissioners – seeking to expand opportunities for a wider range of vendors, contractors and consultants – has set a higher goal

Dredging

MN 100: Donjon Marine Co., Inc.

100 Central Avenue Hillside, New Jersey 07205 Tel: (908) 964-8812  Email: info@donjon.com Website: www.donjon.com President & CEO: J. Arnold Witte The Company: Donjon Marine Co.

Governors Write Obama for Mississippi River Funding

Governors seek President Obama’s support for upper Mississippi River commercial navigation locks and ecosystem The Governors of the five Upper Mississippi River States of Illinois,

Panama Canal Opens 2nd Maintenance Congress

The Panama Canal Authority (ACP) opens today the Second International Maintenance Congress with the participation of 26 international and six local experts to promote

Underwater Engineering

Seadrill's Q2 2014 Revenue Holds Nearly Steady

Revenues for the second quarter of 2014 were US$1,222 million compared to US$1,221 million in the first quarter of 2014, according to the company's financial report.

Rock On: UK's Kent Beach Flood Defence Starts

Rocks are being delivered as work by Van Oord starts on the £30m scheme to protect 1,400 properties at Broomhill Sands Coastal Defence Scheme in Kent, informs UK's Environment Agency.

Wood Group Kenny Wins 2 Contracts from Petrobras

Wood Group Kenny (WGK) has won two contracts with a total value of over $2 million with Brazilian operator Petrobras. In the first, WGK has begun a conceptual

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2038 sec (5 req/sec)