Record-breaking year for Boskalis as profit skyrockets 30 per cent
Royal Boskalis surpassed all previous financial records in 2024 with an all-time high revenue, result and order book. Revenue amounted to EUR4.4 billion ($4.8 billion), with a strong contribution from the offshore energy division.
Net profit, at EUR781 million, increased by 30 per cent, having already hit record levels in 2023.
The company said the acquisition of the remaining 50 per cent share in Smit Lamnalco in late October 2024 contributed to the earnings growth.
"2024 was an extremely good year for Boskalis with all parts of the company performing exceptionally well," commented Peter Berdowski, Boskalis CEO.
"With the acquisition of SMIT in 2010, we laid the foundation for creating a second division within the company. Since then, we have successfully expanded this, supported by acquisitions and investments in vessels.
"With the resulting [offshore energy] division, we play an important role in facilitating the energy transition. Last year, half of the divisional revenue was related to offshore wind and we have to date actively participated in the construction of more than 150 offshore wind farms worldwide.
"In the dredging and inland infrastructure division, we were busy last year creating innovative infrastructure, such as the Fehmarnbelt tunnel between Germany and Denmark and the development of ports.
"We were also busy with a wide variety of climate adaptation projects - from Singapore to Zeeland in the Netherlands, and from riverbank protection to coastal defense.
The seabed intervention division was active with numerous rock installation projects, and Boskalis said it believes the importance and scope of these activities is increasing, given the recent increase in damage to underwater infrastructure including subsea cables.
"We transported a large number of special objects with our heavy marine transport vessels, and ALP Maritime's eight large oceangoing tugs acquired in early 2024 have been put to full use on a wide range of projects," added Berdowski.
"Last year, we invested over EUR700 million in equipment - another record amount for Boskalis. We recently completed a new business plan for the next three years. Despite the necessary uncertainties on the world stage, we are still positive about the prospects for Boskalis during this period."
