Boskalis is in good shape as a company with its very well-filled order book and strong financial starting position. Nevertheless, the further course of the COVID-19 pandemic and the start-up of several large projects will be key factors in 2021.
In view of the project-based nature of a significant part of our activities and the uncertainties related to COVID-19, it is difficult at this early stage of the year to make a specific quantitative statement about the projected annual result for 2021. The well-filled order book however offers a solid basis to match the EBITDA level of 2020.
Capital expenditures in 2021 are expected to be in excess of EUR 300 million, excluding possible acquisitions. This is in line with the multi-year investment program presented early 2020, albeit that certain2020 investments have been deferred into 2021 and 2022. The largest investment for the coming year is the conversion of the Bokalift 2 crane vessel, which is almost fully booked for 2022.