Royal Boskalis B.V. (Boskalis) shared the results of the first half of the year. The utilization of the fleet was high, and all divisions posted a higher revenue combined with a sharp result increase.
Revenue Surges by 22%, EBITDA Rises 27% in H1.
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).
CEO Peter Berdowski Highlights Company’s Successes.
Peter Berdowski, CEO of Boskalis, said, “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,” he added.
The revenue for the dredging and inland infra division increased fractionally on a 26% higher EBITDA compared to the same period last year.
Noteworthy projects in progress include the activities in Manila (Philippines), Tuas Terminal 2 and the Pulau Tekong Polder (both in Singapore), various projects in the Middle East, the Fehmarnbelt tunnel (between Denmark and Germany), the access channel to the Port of Harwich (United Kingdom), the strengthening of part of the Togo and Benin coastline, the deepening of the Suriname River (Suriname) and a large number of projects in the Netherlands.