Boskalis reported increases in all three divisions during the first half of the year. Offshore Energy recorded high vessel utilisation, including the heavy transport fleet, and carried out work on various offshore wind projects. In the Dredging division, large projects in the Far and Middle East were the main contributors.
Towage & Salvage also contributed to the growth. The towage activities of Smit Lamnalco are now fully consolidated following the acquisition of the remaining stake, while the Salvage unit worked on assignments in the Middle East, Vietnam, and the North Sea.
Revenue rose by 14% year-on-year to €2.35 billion, compared with €2.07 billion in the first half of 2024. Adjusted for changes in consolidation and currency effects, revenue was 5% higher.
EBITDA increased by 35% to €748 million, compared with €553 million a year earlier. Adjusted for exceptional income in 2024, the increase was 40%. Net profit rose by 43% to €426 million, from €298 million in the same period last year, and by 52% on an adjusted basis.
Within Offshore Energy, the Services cluster reported high utilisation of the heavy marine transport fleet, including the BOKA Vanguard, which carried out two notable dry dock transports between China, Turkey, and the USA. The fleet was also engaged in transports for offshore wind and oil and gas clients in Asia, South America, West Africa, and the USA. Subsea Services and Survey maintained similar results to last year, with work mainly in the North Sea and the Middle East.
The Contracting business, covering Offshore Heavy Lifting and Subsea Cables, also performed well. A large offshore wind project off the USA’s East Coast is nearing completion, while Subsea Cables worked mainly in Europe and installed two export cables in Taiwan. The division continued to work across both offshore wind and oil and gas markets.
