Annual r eport 2002 Annual r eport 2002 - Boskalis

Report of the Board of Management on 2002
A number of examples in this area have been elaborated in the texts you can find at various places
in this annual report. The strategy involving an in-house research program and active participation in
joint research was also continued in 2002. New measurement techniques for the fast and accurate
measurement of line wear underwent thorough field testing. A lot of research went into the practicality
of cutter suction dredging in rough seas, the reduction of spillages and overdepth, and the use of an
underwater cutter for loosening very hard beds. With respect to the trailing suction processes, particular
priority was given to the sedimentation of material in the hopper and the optimization of dragheads.
A program was also launched for updating on-board instruments.
Information and communications technology (ICT)
Investments in hardware and software in recent years mean that Boskalis has good instruments in
the ICT area for efficient operations.
The ERP system was implemented in the United States in 2002. The implementation of the fleet
management system also started there.
A major step forward was the replacement and valuation of the estimating office systems used for the
production estimations and cost price calculations. The replacement of the personnel management
system is progressing steadily. The system will be operational in the second quarter of 2003.
Prospects for the coming year
Boskalis is certainly not pessimistic about 2003. Boskalis will continue to invest in its leading market
position and cost leadership. Investments in 2003 will be maintained at the same high level as 2002.
The modernization and extension program for the fleet will last until mid-2004. Investments will be
financed from the company's own funds. This does not take into account the possibility of major
expansion opportunities.
The prevailing geopolitical and economic uncertainties do require a cautious approach to a numerical
profit forecast for 2003. In qualitative terms, 2003 is expected to be a year with a lot of activity, increasing
competition, pressure on margins here and there, high energy prices, and lower dollar rates. In short,
2003 will be an uncertain year for the sector in which Boskalis will perform well given the circumstances.
In conclusion
Once again in 2002, the Boskalis workforce demonstrated its commitment and professionalism. They
have had a considerable impact on the good result achieved by Boskalis in more difficult circumstances.
We wish to express our sincere thanks to all those who have contributed in their various ways.
Papendrecht / Sliedrecht, 11 March 2003
Board of Management
R. van Gelder BA
Dr. P.A.M. Berdowski
K.G. van Nes
36
Annual Report 2002