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Trading update: Boskalis reports good third quarter and maintains 2019 EBITDA guidance

Written by Customer Service on . Posted in Public Companies.

Papendrecht, 8 November 2019THIRD-QUARTER HIGHLIGHTSGood revenue development with strong improvement of the result compared to the first half of the yearHealthy utilization of trailing suction hopper dredgers within DredgingStrongly improved result at Offshore Energy and stable utilization of heavy transport vesselsOrder book: EUR 4.2 billionOUTLOOK FOR 2019Dredging: stable market pictureOffshore Energy: strong recovery in second half following weak first halfTowage: sale of stake in Saam Smit Towage completed; remaining joint ventures stableSalvage: strong year with good results from ongoing projects2019 EBITDA outlook maintained: comparable to 2018Royal Boskalis Westminster N.V. (Boskalis) saw revenue increase slightly in the third quarter of 2019 compared to the quarterly average for the first half of the year. The operating result increased sharply in the third quarter compared to the weak first half of the year.The order book stood at EUR 4.2 billion, slightly lower compared to the end of June. Over EUR 0.5 billion of new contracts were acquired in the third quarter, not including the recently awarded sizable Changfang and Xidao offshore wind project in Taiwan.Boskalis maintains its earnings forecast for the 2019 full year. Barring unforeseen circumstances, a sharp improvement in profit is expected in the second half of the year compared to the first half.Operational developments

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