Busy quarter with increase in revenue for Boskalis

Boskalis has closed a busy third quarter. In line with expectations, quarterly revenue was higher than the quarterly average for the first half year, said the company.

In the past quarter, projects continue to be affected to a greater or lesser extent by the consequences of the COVID-19 pandemic.

“International travel and entry restrictions make it as challenging as ever to keep projects and vessels operational, especially in the Far East, where the additional costs due to COVID measures are weighing heavily on the margins of certain projects. Nevertheless, Boskalis was once again successful in executing projects in the past quarter, with a higher vessel utilization,” the company stated.

The order book stood at EUR 5.1 billion at the end of September, down from the record level at the end of June. Over EUR 0.3 billion worth of contracts were acquired in the third quarter.

The order book is still very well filled thereby offering a solid foundation for the rest of this year and the period thereafter.

Boskalis is maintaining its EBITDA guidance for the full year 2021. Barring unforeseen circumstances, the EBITDA level in the second half of the year will be in line with the EUR 226 million achieved in the first half.

The financial position of Boskalis remains very solid and the net cash position of EUR 210 million is virtually unchanged compared to mid 2021.