Dutch marine contractor Royal Boskalis Westminster reported stable earnings for 2025 after strong activity in offshore energy and dredging helped offset broader market uncertainty.
The company posted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €1.3 billion for the year, unchanged from 2024, while revenue edged up to €4.5 billion from €4.4 billion a year earlier.
Boskalis said the performance was supported by strong project execution in its Dredging & Inland Infra and Offshore Energy divisions, along with growth in Towage & Salvage following the acquisition of the remaining 50% stake in Smit Lamnalco in late 2024.
Chief executive Theo Baartmans described the past year as exceptional for the company.
“2025 was an extraordinary year for Boskalis in many respects,” Baartmans said. “We also continue to make an important contribution to the global energy transition.”
Boskalis said it has now participated in the development of 175 wind farms worldwide and carried out offshore wind work in the United States and Europe during 2025, including the installation of foundation piles and subsea cables.
The company also transported and installed the DolWin5 offshore converter platform supporting the Borkum Riffgrund 3 Offshore Wind Farm project.
Looking ahead, Baartmans said the 2025 performance would be difficult to replicate but the company remains cautiously optimistic for 2026 based on its order book.
He added that geopolitical tensions, trade restrictions and rising costs are weighing on appetite for large infrastructure investments, while recent developments in the Middle East are creating uncertainty for operations in the region.
