Van Oord recorded EUR 1,677 million in revenue (2019: EUR 1,644 million) and despite the impact of restructuring costs and incidentals, EBITDA remained relatively stable EUR 226 million (2019: EUR 254 million).
Cash performance was very strong, resulting in a positive net cash position at year-end of EUR 24 million (2019: net debt EUR 307 million). Its order book remained stable at EUR 3,553 million (2019: EUR 3,610 million). The revenue build-up in 2020 varied compared with 2019. The Dredging business unit saw a further revenue decrease to EUR 598 million (2019: EUR 690 million) due to ongoing market pressure, enhanced by COVID-19. The revenue of Offshore Wind picked up (2020: EUR 632 million, 2019: EUR 571 million) due to a high execution level on various projects. The Offshore business unit kept its revenue level stable, at EUR 211 million (2019: EUR 210 million). The company temporised its investment cash flow (EUR 2020: EUR 120 million, 2019: EUR 222 million). From 2021 onwards Van Oord plans to increase its investments again.
