Given the strong results in the first half of the year and the magnitude and composition of the orderbook, Boskalis is in good shape for the rest of the year, assuming that COVID-19-related restrictive measures experienced over the past two years, particularly in the Far East, will not return.  

At Dredging & Inland Infra, a comparable operational and financial second half is expected. Due to the magnitude of the activities in Manila Bay, the progress will be a major determinant for the result. Furthermore, the other large works in Singapore, Denmark and the Netherlands will also make a significant contribution. The utilization of the hopper fleet is expected to remain high and the utilization of the cutters will only increase to a limited extent.  

At Offshore Energy, the second half of the year is also expected to be in line with the first half. In contracting, a number of large ongoing offshore wind projects such as Changfang & Xidao and Fécamp will be decisive. In services it is expected that the current market picture will not change substantially and that the strong demand will also be reflected in a good second half year.  

Towage & Salvage; a stable picture is expected for the terminals activities within Towage. The result of Salvage will strongly depend on the inherently unpredictable nature of the business. Possible large settlement results on previously executed projects are not expected. 

Based on the fleet planning and works in portfolio, and barring unforeseen circumstances, the Board of Management expects the EBITDA level of the second half of the year to be in line with that of the first half, adjusted for exceptional items. For 2022, the unchanged capital expenditures outlook is approximately EUR 450 million, including dry-dockings however excluding possible acquisitions. 

 

 

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 18 August 2022.

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