Boskalis’ strategy is aimed at the opportunities and challenges that present themselves to the company. This strategy is based on three pillars: Focus, Optimize and Expand.

A large number of our markets are currently heavily impacted by low prices for oil and other commodities and by stagnating growth in world trade. As a result, many of our clients are faced with the need to reduce cost and increase operating efficiencies. The lower demand combined with often increased capacity supply have put many markets under competitive pressure, in some cases very severe, generally resulting in strong buyers' markets. In addition to putting pressure on prices, this also has the effect of increasingly moving the burden of risk onto suppliers of services. Additionally, clients often require more integrated, innovative services or turnkey solutions. While this creates opportunities that are consistent with our strategy to provide value-added services, it goes hand-in-hand with an increased pressure to transfer the associated risks from the client to the provider of the services.

Particularly in the context of the above, effective management of both risks and opportunities is essential for the successful realization of the group's strategy and plans. The proper identification, assessment and management of risks and opportunities - notably with respect to tendering, preparation and execution of projects - is therefore 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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