Van Oord business results: Record high revenue in 2023

Van Oord said this morning that they concluded 2023 with strong results: revenue reached record high and profits more than doubled.

Photo courtesy of Van Oord

Compared to last year, we saw revenue growth across both our Dredging & Infra and Offshore Energy business units, which resulted in a significantly revenue increase of 42% to EUR 2.9 billion from EUR 2.0 billion in 2022,” said Van Oord.

“Net profit doubled to EUR 127 million from EUR 60 million in 2022. High fleet utilisation and the continued sharp focus on risk and contract management contributed to the improved results.”

According to the Dutch giant, solvency was stable at 32.5% and the net debt position improved to EUR 152 million as of 31 December 2023, despite an extremely high investment level.

The order book increased by 3% to EUR 4,429 million from EUR 4,300 million in 2022.

From an operational and financial perspective, 2023 proved to be an extremely busy year for Van Oord and one of substantial growth and recovery,” the company said.