Wedoany.com Report on Mar 6th, Royal Boskalis Westminster has announced its financial results for the fiscal year 2025, revealing record highs in both revenue and profit. As of December 31, 2025, the company's net profit reached €775 million (approximately $817 million).
Boskalis' revenue for FY 2025 was €4.5 billion, up from €4.4 billion the previous year. This growth was primarily driven by strong performance in the Offshore Energy business unit and the Towage & Salvage division. The Group's full-year EBITDA was €1.3 billion, demonstrating robust performance despite the absence of exceptional gains recorded in 2024.
Theo Baartmans, CEO of the company, stated, "This was an exceptional year due to high fleet utilization and strong project results." In the Dredging & Inland Infra segment, revenue reached €1.9 billion, with an average utilization of dredging vessels of 32 weeks. Key projects completed during the year included the Oxagon port expansion in Saudi Arabia and the Pulau Tekong polder project in Singapore.
Boskalis also participated in the reinforcement of the IJsselmeer dikes in the Netherlands to mitigate high water risks. Other Dutch projects involved coastal protection works in the province of Zeeland and on the island of Ameland in the Wadden Sea. Revenue in the Offshore Energy segment grew by 9% to €2.1 billion, with offshore wind projects contributing 55% of the total revenue. The company's activities were supported by its presence in both the US and European markets.
In the Heavy Marine Transport sector, the BOKA Vanguard performed multiple dry dock transport missions after being widened. The Black Marlin and Blue Marlin were active in offshore wind and transport activities in Taiwan and Angola. Revenue in the Towage & Salvage division was €400 million, benefiting from the full integration of Smit Lamnalco at the end of 2024. Smit Lamnalco secured a ten-year contract from ExxonMobil Guyana to provide four new support vessels.
The salvage team conducted operations on the Stena Immaculate in the North Sea and the ASL Bauhinia in the Middle East, successfully refloating the ASL Bauhinia and towing it to the UAE for unloading. The order book increased slightly to €7.0 billion by year-end. Boskalis stated that it remains focused on its maritime infrastructure strategy despite geopolitical tensions in the Middle East.
The company invested €564 million in its fleet, including the construction of a Seaway-type trailing suction hopper dredger. Additionally, the subsea rock installation vessel Windpiper is expected to enter service in 2026.
