Boskalis’s offshore energy business has reported €67m in earnings before interest and tax (EBIT) in the first half of this year compared with €43m in the same period in 2021.
The strong increase was driven by the services part of the division with a busy half year, Boskalis said.
Revenue increased by 3% in the offshore energy business in the first half of 2022, with a 29% increase in the EBITDA result, compared to the first half of 2021.
The busy services division offset a volume decline in the subsea cables sub-segment, the company said.
Strong demand from both offshore wind and the traditional oil and gas led to high utilisation of heavy transport vessels.
In the second quarter the new crane vessel Bokalift 2 was commissioned and has since been working on the Changfang & Xidao offshore wind project in Taiwan.
At Offshore Energy, the second half of 2022 is also expected to be in line with the first half.
In contracting, a number of large ongoing offshore wind projects such as Changfang & Xidao and Fécamp will be “decisive”, Boskalis said.
In services it is expected that the current market picture will not change substantially and that the strong demand will also be reflected in a good second half year.