Boskalis’ Offshore Energy division delivered a strong performance in the first half of 2026, supported by the execution of major offshore energy projects, including offshore wind developments. The division benefited from strong contributions from offshore heavy lifting, subsea cables and marine services.
Revenue across the group was €1.90 billion in the first half of 2026, down from €2.35 billion in the same period of 2025. EBITDA was €553 million, compared with €748 million a year earlier, while net profit decreased to €275 million from €426 million.
The Offshore Energy division reported lower revenue and earnings than in the exceptionally strong first half of 2025 but continued to perform well. The contracting cluster recorded a stronger result than a year earlier, supported by project execution and contributions from major offshore wind projects. Subsea Cables also performed well, with ongoing cable installation activities in Europe and North America.
The Services cluster delivered a lower result than in the first half of 2025. Marine Services performed strongly, while Heavy Marine Transport, Subsea Services and Marine Survey faced more challenging market conditions. Geopolitical tensions in the Middle East and the effective closure of the Persian Gulf affected activity, particularly for Marine Survey.
The Offshore Energy order book declined during the first half of 2026 as major projects progressed into execution and completion, with revenue recognition exceeding new contract awards. The division nevertheless entered the second half of the year with a solid order book.
Boskalis is expanding its offshore energy fleet. The Windpiper, a subsea rock installation vessel with a capacity of 45,500 tonnes, completed its conversion and sea trials and entered service following its christening in Rotterdam in July. It has since departed for a project in the Baltic Sea.
In May, Boskalis also announced plans to invest in a new high-capacity cable-laying vessel equipped with two 12,000-tonne cable carousels. The vessel is scheduled to enter service in 2029 and is intended to support offshore energy projects and the expansion of renewable energy infrastructure.
Across the wider group, the order book stood at €6.8 billion at the end of June 2026, compared with €7.0 billion at the end of 2025. Growth in Dredging & Inland Infra was more than offset by the reduction in Offshore Energy as major projects moved into execution and completion.
Boskalis invested €249 million during the first half of the year, mainly in fleet renewal and strategic assets. The company expects the projects currently under execution and in its order book to provide a solid basis for the remainder of 2026.
