Boskalis posts €275 million first-half profit as offshore energy supports performance
Boskalis reported first-half 2026 revenue of €1.90 billion and net profit of €275 million, both below the exceptionally strong prior-year period, while its order book stood at €6.8 billion. Offshore energy remained a major contributor as the company advanced fleet renewal and cable-lay capacity investments.
Boskalis generated revenue of €1.90 billion and EBITDA of €553 million in the first half of 2026, compared with €2.35 billion and €748 million respectively a year earlier. Net profit declined to €275 million from €426 million, while the order book eased to €6.8 billion at the end of June from €7.0 billion at year-end 2025.
The company said Offshore Energy continued to perform strongly, supported by project execution in offshore wind and oil and gas, as well as contributions from offshore heavy lifting, subsea cables and marine services. Cable installation activity continued in Europe and North America. Heavy marine transport, subsea services and marine survey faced more difficult conditions, with Middle East disruption particularly affecting survey activity and vessel utilization.
Dredging and inland infrastructure also experienced lower fleet utilization, especially in Asia and the Middle East. Boskalis nevertheless added work including the Luleå port deepening project in Sweden and extensions of maintenance dredging activities at Harwich and Felixstowe in the United Kingdom.
Fleet investment remained substantial at €249 million. The 31,000-cubic-meter trailing suction hopper dredger Seaway completed construction and sea trials before entering service on a project off Den Helder. The converted 45,500-tonne subsea rock installation vessel Windpiper also completed sea trials and departed for its first Baltic Sea project. Boskalis is additionally investing in a cable-laying vessel equipped with two 12,000-ton cable carousels, which is expected to enter service in 2029.
Management expects second-half EBITDA to remain broadly stable relative to the first half, barring unforeseen circumstances, although geopolitical uncertainty and delayed client investment decisions remain risks to new awards and fleet utilization.