Analyst coverage & Estimates

Boskalis collects earnings estimates prior to the publication of the (semi-)annual figures and planned trading updates from those sell-side analysts that follow the company. The company compiled consensus is calculated as a simple arithmetic average of forecast estimates made by these analysts.

The below estimates were collected between 3 August and 11 August 2020 and published on 11 August:

When submitting their estimates, analysts were requested to incorporate the following:

- Specific recent events: Horizon – acquisition remaining 37.5% shares early 2020 and fully consolidated as per then; COVID-19 impact and announced measures (2020 CAPEX guidance: EUR 200 mln; Suspension of share buy back program as per 6 April; No dividend over 2019)

- General: estimates are based on IFRS 16; net debt position excludes IFRS 16 lease liabilities

The information above is a collection of future expectations and other forward-looking statements of sell-side analysts who cover Boskalis. The views and assumptions (and, therefore, the consensus estimate numbers) are theirs alone. The presence of this consensus on Boskalis’ website does not constitute or imply any validation, concurrence or approval of the estimates presented, or of any element thereof by Boskalis. The information presented is not and cannot be construed as an invitation or a recommendation to buy or sell securities or to effect any transaction of any kind. The collection and circulation of the consensus by Boskalis is not mandatory and Boskalis may amend its practice on this at any time. Boskalis assumes no liability for the accuracy of such estimates and undertakes no obligation to update or revise such estimates.