Boskalis posts record profit in first half year

Royal Boskalis Westminster (Boskalis) announced a net profit of EUR253m ($338m) in the first half of 2014 compared to EUR123m during the same period, a year ago.

Revenue rose 21% in the first half of the year to EUR 1.5bn, compare to EUR 1.3bn in H1 2013, and organic revenue grew by 13.4%.

EBITDA amounted to EUR 466m in the first six months and the operating result (EBIT) was EUR 338m, compared to EUR 280m in 2013 and EUR 162m respectively.

Its orderbook stood at EUR 3.15bn at the end of the first half of the year.

“We have posted a historically high result in the first half of 2014 and the performance across the board of the company has been very good,” said Boskalis ceo Peter Berdowski.

“This result is partly thanks to the strategic choice we made to broaden our focus on offshore. The offshore activities are becoming increasingly important and the contribution of Dockwise forms a key part of this. But the traditional core dredging activities also made an excellent contribution to the results.”