Boskalis’ strategy is aimed at the opportunities and challenges that present themselves to the company. This strategy is based on two pillars: Focus and Strengthen & Rationalize. Focus is aimed at value-adding assets and specific market segments. In this context we are increasingly seeing that clients request us to provide integrated, innovative services or turnkey solutions, whereby they also often want to assign the responsibility for the associated risks to us.

Boskalis operates in markets that are mainly driven by long-term demographic and economic factors, including growth of the global population, expansion of the global economy and growth in international trade and transport volumes, particularly seaborne. Although the long-term prospects for these factors are favorable, the trends in a number of the regions and markets in which Boskalis operates are developing less favorably and the outlook for both the short and the medium term is uncertain.

Certainly also in light of the above, effective management of both risks and opportunities is essential for the successful realization of the group’s strategy and plans. Identifying, assessing and managing risks and opportunities – particularly with respect to tendering, preparation and execution of projects – is an integral part of our management approach.

Strategic and market risks

Despite the positive long-term growth prospects, our markets can be regularly negatively impacted by factors outside our control, certainly in the short and medium term.

Operational risks

The operational risks faced by Boskalis are diverse in nature, particularly because the group conducts various types of activities around the world within the three divisions.

Financial risks

In conducting its business, Boskalis is exposed to various non-operational financial risks. This section describes the main categories of financial risk.

Other risks

Boskalis is active in numerous countries and has to deal with diverse legislations and regulations.

Internal risk management and control systems

The internal risk management and control systems of Boskalis are based on the principles of effective management control at various levels in the organization and tailored to the day-to-day working environment in which the company operates worldwide.

Risks with regard to financial reporting

The accounting and control systems of Boskalis are safeguarded by unambiguous periodical internal and external audits.

Evaluation of risk management and internal control systems

Major organizational changes have been implemented in order to accommodate the rapid growth that Boskalis has experienced in recent years, including the introduction of a divisional structure.

Overview of risks

An overview of the key strategic, operational and financial risks and the risks with respect to financial reporting is given in individual sections.

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