Boskalis has reported its 2025 annual results, with continued activity in offshore wind and other energy transition projects contributing to performance. Activities included foundation installation and subsea cable work for wind farms in Europe and the USA.
Boskalis also completed the transport and installation of the DolWin 5 offshore converter platform, supporting the Borkum Riffgrund 3 offshore wind project in Germany. Subsea cable installation work included inter-array cable transport and installation for the Borkum Riffgrund 3 and Godewind 3 offshore wind farms.
Heavy marine transport vessels were involved in offshore wind logistics projects, including work at the Greater Changhua 2 wind farm in Taiwan. Crane vessels were deployed in the USA for foundation pile installation off the east coast and for a short campaign at the Baltic Power offshore wind farm in Poland.
Across its activities, Boskalis reported involvement in the development of approximately 175 offshore wind farms worldwide.
Outside offshore wind, the company also carried out energy-related projects including dredging and rock installation works for the Porthos carbon capture and storage project in the Dutch North Sea.
Group revenue reached €4.5 billion in 2025 compared with €4.4 billion in 2024. Earnings before interest, tax, depreciation and amortisation (EBITDA) remained at €1.3 billion, while the operating result increased to €886 million from €782 million a year earlier. Net profit amounted to €775 million and the order book stood at €7.0 billion at year-end.
Within the Offshore Energy division, revenue increased by 9% to €2.1 billion, of which about 55% was related to offshore wind projects.
Total investment in property, plant and equipment during 2025 amounted to €564 million. This included the construction of the 31,000 cubic metre trailing suction hopper dredger Seaway and conversion work on the Windpiper, which will enter service in 2026 as a subsea rock installation vessel with a capacity of 45,500 tonnes.
Boskalis reported a cash position of €1.4 billion and debt of €281 million at year-end, resulting in a net financial position of €1.1 billion. Solvency increased to 57%.
