Royal Boskalis reported record revenue and profit for the 2025 financial year as activity increased across its offshore and dredging divisions. The company posted a net profit of €775 million ($817 million) for the period ending December 31, 2025.
Revenue reached €4.5 billion compared to the €4.4 billion reported during the previous twelve months. This result was supported by growth in the offshore energy and towage and salvage sectors.
The group reported that EBITDA reached €1.3 billion for the full-year period. It highlighted that this performance was achieved despite the absence of exceptional gains seen in 2024.
Chief Executive Officer Theo Baartmans noted that the year was extraordinary due to high fleet utilisation and strong project outcomes.
Within the dredging and inland infra division, revenue reached €1.9 billion as hopper dredgers were utilised for an average of 32 weeks. Major projects completed during the year included the port of Oxagon expansion in Saudi Arabia and the Pulau Tekong polder in Singapore.
The company also worked on reinforcements for the IJsselmeer dyke in the Netherlands to protect the hinterland from high water. Other Dutch projects included coastal protection for Zeeland and the Wadden Sea island of Ameland.
The offshore energy division recorded a revenue increase of nine per cent to reach €2.1 billion. Offshore wind projects accounted for 55 per cent of this total as the company supported developments in the US and Europe.
Within the heavy marine transport cluster, the BOKA Vanguard performed several dry-dock transports after being recently widened. The Black Marlin and Blue Marlin were also active on offshore wind and transport campaigns in Taiwan and Angola.
Towage and salvage revenue reached €0.4 billion following the full consolidation of Smit Lamnalco at the end of 2024. Smit Lamnalco secured a ten-year contract from ExxonMobil Guyana for the provision of four new support vessels.
Salvage teams performed operations on the Stena Immaculate in the North Sea and the ASL Bauhinia in the Middle East. The company successfully refloated the ASL Bauhinia and towed it to the UAE for discharge.
The year-end order book was slightly higher at €7 billion. Boskalis stated it is focused on its maritime infrastructure strategy despite current geopolitical tensions in the Middle East.
The company invested €564 million in its fleet, including the construction of the Seaway trailing suction hopper dredger.
Boskalis also indicated that the subsea rock installation vessel Windpiper is expected to enter service in 2026.