Marine outfit Boskalis said recent contract awards, including in offshore wind, have kept the Dutch company on track for full-year profits of around €350m.
In a third quarter update Boskalis said its management board has maintained guidance for 2019 earnings before interest, taxes, depreciation and amortisation (EBITDA) would be “stable relative to last year”.
Boskalis recently booked offshore wind orders for the Changfang and Xidao projects off Taiwan.
The orders, which were placed in the fourth quarter, led the company to invest in a new crane vessel, Bokalift 2, by converting an existing hull.
The vessel will be used to install 62 jacket foundations and the accompanying 186 pin piles.
Boskalis meanwhile said it secured contracts worth over €500m in the third quarter.
The company’s order book stood at €4.2bn at the end of September, slightly lower than at the end of June, it added.
Third quarter performance in its offshore energy division “was considerably better than the first half”, it said, which was “strongly negatively impacted by operational and contractual issues on a limited number of projects”.
Offshore energy revenues increased compared to the preceding two quarters, with both the contracting and services activities making a positive contribution to the operating result, it added.
Full-year company-wide capital expenditure in 2019 is expected to exceed €250m, excluding acquisitions, the company said.