Boskalis saw strong financial results in 2024 with the Offshore Energy division playing a key role in this growth.
Revenue reached € 4.4 billion and EBITDA increased to € 1.3 billion, more than 28% higher than in 2023. EBIT rose to € 926 million, while net profit totalled € 781 million. The order book grew by € 1 billion to € 7 billion, including the consolidation of Smit Lamnalco.
Revenue in the Offshore Energy division rose by 10% to € 2.0 billion. Fleet utilisation improved compared to 2023, particularly for crane vessels and heavy marine transport. The division benefited from demand in offshore wind and oil and gas markets, with offshore wind projects accounting for about half of its revenue. Major foundation installation projects were carried out along the US East Coast, while Subsea Cables secured new contracts in Germany and the Netherlands.
Subsea Services and Marine Survey continued to perform well. Subsea Services remained active in inspection, repair, and maintenance work, as well as decommissioning projects. The Survey business experienced steady demand from both offshore wind and oil and gas sectors.
The order book expanded further during the year, with € 5.3 billion in new contracts, including just over € 1 billion from the consolidation of Smit Lamnalco. At year-end, the order book stood at € 7 billion, compared to € 6 billion in 2023. With a strong project pipeline and positive market conditions, the outlook for 2025 remains stable.
