Belgian marine engineering and construction company Jan De Nul has announced a significant turnaround in its financial performance, reporting a net profit of €108 million for the year 2022. This impressive result marks a substantial improvement compared to the loss of €20 million recorded in the previous year, showcasing the company's resilience and successful strategic efforts.
Jan De Nul's overall turnover also reached unprecedented heights, reaching €2.5 billion in 2022. This substantial increase in revenue enabled the company to restore its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) to 18% of turnover, amounting to €440 million.
One of the key drivers of Jan De Nul's success has been its active involvement in the offshore renewable energy market. In 2022, the company played a vital role in the construction of numerous offshore wind farm projects, both within and outside of Europe. Notably, Jan De Nul Group successfully completed the Formosa 2 Offshore Wind Farm project in Taiwan. The scope of work for this project encompassed the design, supply, and installation of 47 foundations, four export cables, and 47 inter-array cables.
The company's expertise was also showcased closer to its home base, in Saint-Nazaire, France. Jan De Nul's jack-up vessel, Vole au vent, demonstrated its capabilities by safely transporting and installing 80 wind turbines for an offshore wind farm located in the region.
Beyond their accomplishments in offshore renewable energy, Jan De Nul's offshore activities span a range of essential services. These include cable and umbilical installation works, as well as trenching, backfilling, and rock installation works.
The remarkable financial performance of Jan De Nul in 2022, with a notable shift from a loss to a substantial net profit, reflects the company's strong commitment to excellence and its position as a leading player in the marine engineering and construction industry. With its involvement in diverse projects worldwide, Jan De Nul continues to contribute significantly to the growth and development of the offshore energy sector.
