Date: 12 November 2007
Based on developments so far in 2007, the Board of Management of dredging company Royal Boskalis Westminster nv expects an increase in the net profit, including the extraordinary items in the first half year of approximately 20 million, of at least 65% (net profit 2006: 116.6 million). In August, at the announcement of the half year results, the Board of Management expected a net profit increase of at least 40%.
Peter Berdowski, Boskalis CEO:
"This year works out very well for us, with robust equipment utilization and good operating margins. In addition, we benefit from our selective market strategy, in which we target the best projects. This year, there are a number of particularly strong projects that generate extra margins."
Turnover in 2007 is expected to increase by over 30% compared to last year (turnover in 2006: 1,354 million). The level of capital expenditure in 2007 will be over 250 million.
Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. Its core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. The company holds important home market positions in and outside of Europe and targets all market segments in the dredging industry. It also has positions in strategic partnerships in the Middle East (Archirodon) and in offshore services (Lamnalco). Boskalis has a versatile fleet of over 300 units and operates in over 50 countries across five continents. Including its share in partnerships, Boskalis has approximately 8,000 employees.
For further information please contact:
Roel Berends - Corporate Relations
Telephone: +31 (0)78 69 69 822 / +31 (0)6 2001 0232
Fax: +31 (0)78 69 69 020
This press release can also be found on our website www.boskalis.com.
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