The developments at Royal Boskalis Westminster N.V. (Boskalis) in 2015 to date have been positive and in line with the company’s expectations.
Reported revenue increased compared to the same period in 2014. Revenue was stable when adjusted for acquisitions, divestments and currency effects. In the course of the quarter the order book fell slightly compared to the end of 2014.
Revenue in the Dredging & InlandInfra segment was comparable to the first quarter last year despite the divestment of road maintenance company De Jong in early February.
Large projects in progress include the expansion of the Suez Canal in Egypt, port developments in India, Brazil and Qatar and the reinforcement of the Hondsbossche and Pettemer Sea Defense in the Netherlands. The operational performance of the projects was generally good and the reported margins were at a comparable level as in the year-earlier period.
The utilization of the hopper fleet was good and the utilization of the cutter fleet was exceptionally strong due in part to the Suez Canal project. The order book of the Dredging & Inland Infra segment fell slightly compared to the end of 2014.
The decline was largely attributable to the Inland Infra activities and is partly due to the deconsolidation of De Jong.