Jan De Nul reported turnover of €4.0 billion ($4.3 billion) for the 2024 financial year, a 36 per cent increase from €2.94 billion in 2023.
Net profit rose by 38 per cent to €409 million, compared with €296 million the year before. This marked the third consecutive year of record revenue and profit growth for the offshore and dredging contractor.
Operating expenses increased alongside revenue, but the company maintained profitability as demand for offshore energy and dredging services expanded.
Offshore and dredging projects accounted for 77 per cent of turnover, driven by the construction of offshore wind farms and submarine cable installations. Major dredging works included port projects in Spain, Senegal and India.
The remaining 23 per cent of turnover came from construction and infrastructure projects, including the Oosterweel link near Antwerp, a new traffic complex near Brussels Airport, and the planned energy island in the Belgian North Sea.
The company closed the year with a record order book valued at €9.55 billion. Jan De Nul also reported negative net debt, despite investment in a new subsea cable-laying vessel, a plug-in hybrid dredger and further electrification of its onshore equipment.
On January 17, 2025, the group renewed a €400 million green loan facility with a seven-year term and established a €250 million revolving credit line with the same banking consortium. At the end of 2024, Jan De Nul employed 8,801 staff across 35 countries.