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Royal Boskalis Westminster (Boskalis) has concluded a good half year with a strong increase in earnings. Compared to last year, revenue increased by 4.6% to EUR 1.32 billion (H1 2020: EUR 1.26 billion).
Adjusted for (de)consolidation and currency effects, revenue growth was 2.7%. EBITDA increased by 10.8% to EUR 226 million (H1 2020: EUR 204 million) and operating profit increased by 34.1% to EUR 97 million (H1 2020: EUR 72 million). Net profit amounted to EUR 72 million compared to a net loss of EUR 96 million a year ago. There were no exceptional gains or losses in the first half of the year, where the first half-year result 2020 included exceptional charges of EUR 144 million after tax.
At Offshore Energy, revenue increased by more than 18% with a significantly higher result. Offshore wind, accounting for 43% of revenue, contributed well to the result. Contracting revenue was virtually stable, with the revenue growth being on the services side of the business. Both Marine Transport & Services and Subsea Services had a good first half year and the integration of the recently acquired Rever Offshore also contributed significantly to the revenue growth. Across the board, the various activities contributed to the good divisional result, with in particular a good half year for the offshore wind projects and Subsea Services.
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