As a result of offshore wind projects, Royal Boskalis reported an increase in profitability and revenue in 2022, pushing backlog over €6 billion.
Pre-tax profits increased for the corporation to €282 million, while revenues increased by more than 20% over the prior year to €3.58 billion. With €237 million in net cash and a €6.1 billion “historically high” order book at year’s end, the company said it was “excellently positioned for the years ahead.”
The impressive success follows a voluntary public offering earlier in the year, which saw Boskalis delist from the Amsterdam Stock Exchange after 50 years of trading there. The group’s offshore energy division’s acquisition of work for multiple offshore wind projects in the United States is responsible for a large portion of the order backlog.
The unit’s revenues rose by 14%, and the company said that despite a slow year for its subsea cables division, services in transport, subsea, and surveying more than made up for the gap.
The outcomes come after the business was awarded a significant transport and installation contract for the Moray West wind farm being constructed off the coast of Scotland’s northeast. With the “sizable” award, Boskalis will use its White Marlin vessel to deliver a number of monopiles from Asia to Invergordon in the Highlands, close to the project site.
Boskalis will carry out the seabed preparation work by placing a layer of rock that will serve as a filter and scour protection for the monopiles prior to the construction of the foundations. The company will then install the monopiles using its Bokalift 2 vessel.
Image source: Boskalis