Boskalis posts record breaking 2024 annual results

Boskalis said this morning that in 2024 they surpassed all previous financial records with an all-time high revenue, result and order book. The revenue amounted to EUR 4.4 billion, with a strong contribution from the Offshore Energy division. 

EBITDA and net result increased by more than 28% having already hit record levels in 2023. EBITDA increased to EUR 1.3 billion, EBIT rose to EUR 926 million and the net profit came out at EUR 781 million.

The acquisition of the remaining 50% share in Smit Lamnalco in late October 2024 also contributed to the earnings growth.

According to the latest announcement, the order book increased by EUR 1 billion to EUR 7 billion, due to the consolidation of Smit Lamnalco.

Peter Berdowski, CEO Boskalis, said: “2024 was an extremely good year for Boskalis with all parts of the company performing exceptionally well. In every corner of the world we sailed the waters white. We can proudly look back on a year that will go into the books as the best ever in our 115-year history.“

“In the Dredging & Inland Infra 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.”

“Last year, we invested over EUR 700 million in equipment – another record amount for Boskalis. We recently completed a new business plan for the next three years.“

In the Dredging & Inland Infra division, revenue amounted to EUR 2.2 billion (2023: EUR 2.3 billion).

The trailing suction hopper dredgers were well utilized at 35 weeks on sizable projects in Asia and the Middle East, the subsea rock installation vessels were very busy with 44 weeks, while the cutter suction dredgers were exceptionally busy in the Middle East with 51 weeks of utilization, the company said.