At the release of the half-year results the company stated that, based on the fleet planning and work in the order book and barring unforeseen circumstances, operating net profit in the second half of 2016 was expected to approach the level achieved in the first half of the year. Based on the result and the market picture in the third quarter the Board of Management maintains this forecast.

Exceptional items such as book and revaluation gains, impairments and our share in the result of Fugro are excluded from the operating net profit forecast. At the close of the fourth quarter and based on the new three-year corporate business plan, annual impairment tests required under IFRS will be conducted. Given the rapid and strong deterioration in market conditions impairment charges cannot be ruled out, in particular at the offshore services activities. A potential impairment of this type will have no impact on determining the dividend amount.

Capital expenditure in 2016 is expected to total EUR 180-200 million, excluding acquisitions. The amount is well below the level of depreciation and will be financed from the company's own cash flow.
Boskalis' financial position remains strong. The net debt position has declined since mid-2016 and Boskalis comfortably meets the covenants agreed with its debt providers.

These statements are based on current expectations, estimates and projections of Boskalis’ management and information available to the company. These forecasts are not certain and contain elements of risk that are difficult to predict and therefore Boskalis does not guarantee that its expectations will be realized. This statement was last updated on 11 November 2016.

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