Boskalis has posted a rise in 2024 net profit to €781m, compared with €601m in 2023.
The company’s offshore energy division realised a 10% increase in revenue to €2bn.
The division benefitted from “healthy demand” in both the offshore wind and traditional oil and gas markets, with offshore wind contributing to 50% of revenue.
The overall utilisation of the fleet was higher compared to 2023, with a particularly busy year for the crane vessels and heavy marine transport fleet, stated Boskalis.
The most significant foundation installation projects were located along the US east coast.
Peter Berdowski, CEO Boskalis, said: “The Offshore Energy division has been exceptionally busy over the past 12 months.
“The energy transition is fuelling demand for new infrastructure, while the traditional oil and gas market is also still offering a lot of work.
“We were particularly active with offshore wind projects along the east coast of the US and in Europe.
“We transported a large number of special objects with our heavy marine transport vessels, and ALP Maritime’s eight large oceangoing tugs acquired in early 2024 have been put to full use on a wide range of projects.
“Last year, we invested over EUR 700 million in equipment – another record amount for Boskalis.
“We recently completed a new business plan for the next three years.”
He added: “As part of the energy transition, Seabed Intervention was active with numerous rock installation projects.
“The importance and scope of these activities is increasing, given the recent increase in damage to underwater infrastructure including subsea cables.
“With the recent addition of the Windpiper, the largest subsea rock installation vessel in the world, we are responding to these current developments.”