Offshore wind will represent a port in the storm as Boskalis prepares for a difficult 2016 that includes planned cost-cutting and associated job losses.
The Dutch marine contractor posted a 2015 net profit of €440m, down 10%, on the back of a 2% boost in revenues to €3.24bn.
Boskalis however warned net profit will be “substantially lower” than the “very strong” 2015 result.
It highlighted “enhanced opportunities in offshore wind”, particularly on the back of the recent agreement to buy VolkerWessels’ interests in that area, but said the oil and gas downturn would hit hard.
“We have launched a fleet rationalization and cost reduction program. It is expected that equipment will be taken out of service at both dredging and offshore energy with the associated implications for staffing levels,” said the company.
Chief executive Peter Berdowski said: “We are tightening up the fleet and the organization and are alert to respond to the opportunities . . . in existing market segments as well as opportunities created by adjusting our playing field and extending it to growth markets.
“A good example of this is the acquisition of VolkerWessels’ offshore activities, which substantially strengthens our position in the growing offshore wind market.”
He added: “Our fleet, organization and balance sheet put us in an excellent position to weather the storm with reason and consideration and come out of it even stronger.”
Image: Boskalis
