Royal Boskalis Westminster (Boskalis) saw a slight increase in revenue in the third quarter of 2017 compared to the quarterly average reported for the first half the year, whilst the result failed to keep pace. Compared to the third quarter of last year both revenue and the result were considerably lower.
In 2016 Offshore Energy still had a good year, boosted by a number of large offshore wind farm installation projects in progress. With regard to the 2017 full year Boskalis expects net profit in the second half, excluding restructuring charges of approximately EUR 15 million, to be comparable to the net profit of EUR 75 million realized in the first half of the year. Compared to end-June the order book declined by 4% to EUR 3.1 billion. Approximately EUR 0.5 billion of new worked was acquired in the third quarter. In addition two preferred bidder agreements were signed for the installation of offshore wind farm cables with a combined value of around EUR 160 million. These contracts will be added to the order book at the financial close in 2018. Furthermore at the end of October Boskalis acquired the Borssele Beta export cables installation contract (value: EUR 70 million) as well a multi-year Dredging maintenance contract with a total value in excess of EUR 260 million.