Q1 results: Boskalis looks ahead positively

Boskalis has just announced that they concluded a busy and good first quarter. Both revenue and earnings increased compared to Q1 2022 and both major divisions – Dredging & Inland Infra and Offshore Energy – contributed to this growth.

A lot of new work was secured during the quarter leading to an increase of the order book of both divisions, said Boskalis.

The company’s overall order book reached a record high level of EUR 6.5 billion at the end of March.

Boskalis’ strategy focuses on activity clusters that bring value to society with the objective of creating sustainable growth.

According to Boskalis, during the past quarter numerous impressive projects were under execution and new high-profile works were acquired.

For more than a century Boskalis has been providing protection against the forces of nature.

“Today, we help protect people and the natural environment from the consequences of climate change, such as rising sea levels and extreme weather conditions through our coastal defense and riverbank protection activities,” said the company.

The first polder in the region is being realized by Boskalis in Singapore on an island threatened by climate change.

The project includes many innovations with the highest standards in terms of flood protection and water management. These innovations provide valuable knowledge that can be used in the development of new polders elsewhere.

In the Netherlands, several projects have contributed to the strong quarter. The multi-year project to reinforce the Markermeer dikes north of Amsterdam is progressing well and the first northern section of the reinforced dike has been completed.

In addition to strengthening the remaining section of the dike, work is also underway on the establishment of a city beach near Hoorn.

The project is part of the national High Water Protection Program and is being carried out in an innovative alliance contract.

New projects and variation orders were also obtained during the quarter for the coastal protection of Texel, Vlieland and Bergen and for the Zwolle-Olst dike reinforcement project.

In early 2023, Boskalis acquired a contract to further develop and climate-proof the island of Gulhifalhu in the Maldives.

The development of Gulhifalhu is part of the government’s strategic plan to improve and develop the port infrastructure, and also serves as a climate adaptive solution to climate-proof this part of the Maldives.

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