Solutions to the increasing scarcity of available land are being sought in the creation of new land, and Boskalis is playing a prominent role here. The global population is still increasing and economic centers are congested and overpopulated. The increasing demand for larger and deeper ports is accompanied by the need for keeping them deep and this results in increases in maintenance volumes, particularly in areas with strong currents or large tidal variations. Ports are also being built or scaled up in numerous industriallydeveloping countries such as India, Malaysia, Egypt and Mexico. The established ports are competing with each other for regional leadership, as we can see in Asia (Singapore, Hong Kong), Western Europe (Rotterdam, Antwerp, Hamburg, Felixstowe) and North America (New York, Halifax). Not only are the ports becoming larger and deeper as a result of the scaling up of, for example, container ships, the number of ports is also increasing as more and more countries get involved in the global production and exchange of goods.
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The growth in the volume of global trade has pushed up demand for ports on international shipping routes. Core activities Construction and maintenance of harbors and waterways. The company has a solid financial basis and a healthy cash flow. Assuming that global trade will continue to expand in the years to come, Boskalis aims to maintain this rate of growth. This growth was achieved both autonomously and by takeovers. The company has grown at an average annual rate of more than 10% in the past decade. In addition, Boskalis has operations in over 50 countries in five continents. It has a unique market position with ten home markets that together generate some 60% of turnover. Boskalis has a wide spread of operations worldwide.
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In addition, the company operates in numerous home markets in a wide range of related activities such as sand and gravel production, dry earth movement, environmental activities, marine offshore services, munitions clearance and tunnel building.
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Its core activities include the construction and maintenance of harbors and waterways, the creation of land in water, and coastal defenses and riverbank protection. Boskalis, a leading international company with a unique market position Royal Boskalis Westminster nv is an international service company active in the area of maritime infrastructure. 5Ĥ Company profile We move the earth to a better place. This is a translation of the official Annual Report in the Dutch language. Some of the projects referred to in this report were carried out in joint venture or in a subcontractor role. 3 Contents Company profile 6 Mission, objectives and strategy 9 Corporate strategy: efficient performance using success factors 11 Management 16 Key figures 18 Investor relations 19 Message to shareholders 22 Report of the Board of Management on Report of the Supervisory Board 36 Annual accounts Principles of financial reporting 39 Consolidated balance sheet after proposed profit appropriation 42 Consolidated profit and loss account 43 Consolidated funds flow statement 44 Explanatory notes to the consolidated balance sheet and profit and loss account 46 Company balance sheet after proposed profit appropriation 53 Company profit and loss account 54 Explanatory notes to the company balance sheet and profit and loss account 55 Other information 58 Provisions in the articles of association relating to profit appropriation 58 Proposed profit appropriation 58 Events after balancesheet date 58 Auditor s report 59 Report of Stichting Administratiekantoor Royal Boskalis Westminster 60 Organization 62 Legal structure 64 The world of Boskalis 66 Offices around the world 67 Financial data in guilders 70 Consolidated balance sheet after proposed profit appropriation 70 Consolidated profit and loss account 71 Consolidated funds flow statement 72 Ten years Boskalis 73 Equipment 74 Unless stated otherwise, all amounts in this report are in Euros ( ).