Dockwise boosts Royal Boskalis in H1

Revenue rose by 12% in the first half to EUR1.6Bn up EUR2Bn compared to the same period in 2012. Organic revenue growth was 4%.

EBITDA in the first half of the year amounted to EUR297m and the operating result (EBIT) was EUR155m compared to EUR254m and EUR145m, respectively in 2012. The results of Dockwise have been fully consolidated from the second quarter, which largely explains this increase.

The dredging business segment realised a higher result while the result at offshore energy, adjusted for the contribution from Dockwise, was slightly lower than in the same period last year. The results at the inland infrastructure and towage and salvage segments were in line with the results achieved in the same period last year.

The first half of 2012 showed "a good operational performance” as Boskalis “took an important strategic step with the acquisition of Dockwise”.

“This combination allows us to strongly expand our position in the offshore energy sector and offer new perspectives to both our clients and our staff. We have already made a good start with the integration of the two companies,” said Boskalis ceo Peter Berdowski.

Various activities have supplemented and reinforced each other: dredging combined with SMIT Salvage in India, offshore ordnance clearance in northern Germany using dredging and subsea services, and very recently SMIT Salvage with Dockwise in an initial dry-docking project involving the Vanguard, commented Berdowski.

Although the forecast of medium term-markets is mixed, Boskalis considers they will offer “initiatives for infrastructure projects in various regions of the world and across the different market segments, in particular to energy-related projects in South America, Africa and Australasia, land reclamation projects in Asia and port developments outside of Europe,” as well as “demand for and construction of new oil and LNG import and export terminals to lead to growth in terminal services.”

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