Royal Boskalis BV (Boskalis) has declared its best third quarter in history, as indicated in its latest financial results. The Dutch company, renowned for maritime and dredging services, is on course for a notably strong full-year performance, building on a solid first half of the year. The Offshore Energy business segment, in particular, showcased exceptional figures, contributing significantly to the company’s overall success.
During the past quarter, Boskalis secured several new projects, including the substantial Baltica 2 offshore wind cable project and the A2 infra project in Limburg, the Netherlands. The company’s order book reached €6 billion by the end of September, aligning closely with mid-2023 levels. Boskalis emphasized the stability of the order book for its major divisions.
CEO Peter Berdowski highlighted the company’s achievements, noting that the high fleet utilization and successful project outcomes marked the best third quarter in Boskalis’s history. Major contributions came from significant projects in Asia, the Middle East, and European home markets in the Dredging segment. The most substantial increase was observed in the Offshore Energy sector, where the strategic focus on both traditional energy and offshore wind markets paid off. Boskalis’s vessels in Heavy Marine Transport, Subsea Services, Marine Services, and Survey experienced high demand.
Boskalis successfully completed noteworthy salvage assignments during the period, including the FSO Safer in the Red Sea and the Fremantle Highway in the Wadden Sea. The company’s sustainable growth strategy, aimed at balancing societal value and sustainable growth, saw progress with ongoing projects.
With strong results for the first nine months of the year and promising projects in the pipeline, Boskalis anticipates 2023 to be one of its best years financially, with an expected EBITDA surpassing €800 million. This projection significantly exceeds the previous year’s result. The company remains optimistic about the future, guided by market developments and a well-filled order book.
Boskalis underlined its robust financial position, maintaining a positive net cash position and debt-free status. The company affirmed its commitment to investing in sustainable growth aligned with its strategic agenda, responding to market opportunities.
