Annual r eport 2002 Annual r eport 2002 - Boskalis

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“Innovation also means combining existing techniques in new, smart ways.” An operator on the BeauDrain machine. The complete drainage system is installed in a single pass. The BeauDrain soil improvement technique developed by Boskalis is already being used successfully in practice, like here in Alphen aan den Rijn, the Netherlands. Longitudinal section showing BeauDrain installation. Royal Boskalis Westminster nv
Report of the Supervisory Board Report of the Supervisory Board Financial statements The Supervisory Board is pleased to present the annual report to the Annual General Meeting of Shareholders in accordance with Article 26(3) of the Articles of Association. The Annual Report 2002, including the financial statements for the same year, was presented to the Supervisory Board by the Board of Management. The financial statements, which have been audited and approved by KPMG Accountants N.V., have been adopted unchanged by the Supervisory Board. We recommend to the Annual General Meeting of Shareholders: • the adoption of the financial statements, including the proposed profit appropriation; • the discharge of the members of the Board of Management in respect of their management activities and the members of the Supervisory Board for their supervision thereof during the year 2002; • the distribution of a dividend to shareholders of € 1.26 per share. Membership of the Board of Management The Board of Management remained unchanged in the year under review. The Board of Management consists of three members. Membership of the Supervisory Board The Supervisory Board is composed of five members. Given the company’s current size and complexity, the Board considers this adequate, without precluding future changes in the size of the Board if required. The Board believes it has a balanced membership which is in accordance with the prevailing profile for the membership of the Supervisory Board. Mr. M. van der Vorm and Mr. A.A. Westerlaken will retire from the Board by rotation on 14 May 2003. Messrs. Van der Vorm and Westerlaken have expressed their availability for reappointment and the Supervisory Board intends to reappoint them. Activities of the Supervisory Board The Board had five meetings with the Board of Management during the period under review, one of which was combined with a working visit to the Middle East lasting several days. Preparations for the meetings were made by the chairman of the Supervisory Board and the chairman of the Board of Management. Permanent items on the agenda were the results and the balance sheet, as well as industry and market developments. Other subjects discussed included strategic positioning, corporate budget, liquidity, continuity, acquisition and investment proposals, organizational structure, internal control and risk management, as well as the personnel policy, health, safety and the environment. In response to questions during the Annual General Meeting of Shareholders in 2002, there were extensive discussions about the reintroduction of the stock dividend. It was decided that, subject to approval of the financial statements, a dividend of € 1.26 will be distributed to the shareholders for 2002. Shareholders may opt to take this dividend entirely in stock or entirely in cash. The Board discussed membership and the allocation of duties within the Board of Management. Possible succession options for the Board of Management and top management were also discussed. The chairman of the Supervisory Board has had regular discussions at other times with the chairman of the Board of Management and with other members of the Supervisory Board. 40 Annual Report 2002
Page 1 and 2: Annual report 2002 Rosmolenweg 20 3
Page 3 and 4: Innovation: where professionalism a
Page 5 and 6: Fast settling with BeauDrain soil i
Page 7 and 8: Company profile Company profile We
Page 9 and 10: Company profile However, the broad
Page 11 and 12: Robert de Vlaming, Regional Manager
Page 13 and 14: Basic principles of the corporate s
Page 15 and 16: Basic principles of the corporate s
Page 17 and 18: Jelke Jan de With, director Boskali
Page 19 and 20: Management Management Supervisory B
Page 21 and 22: Carel Stetter, head of the building
Page 23 and 24: Key figures Key figures (1) Annual
Page 25 and 26: Investor relations Large shareholde
Page 27 and 28: Message to shareholders The tide tu
Page 29 and 30: Left Edgar van Herwijnen and right
Page 31 and 32: Report of the Board of Management o
Page 39: Dick Bodegom, Chief Engineer Resear
Page 43 and 44: Left Frances Buirma, director Perso
Page 45 and 46: The trailing suction hopper dredger
Page 47 and 48: Financial Statements 2002 Tangible
Page 49 and 50: Financial Statements 2002 Consolida
Page 51 and 52: Financial Statements 2002 Consolida
Page 53 and 54: Financial Statements 2002 2. Tangib
Page 55 and 56: Financial Statements 2002 7. Bank d
Page 57 and 58: Financial Statements 2002 In princi
Page 59 and 60: Financial Statements 2002 The bonus
Page 61 and 62: Financial Statements 2002 Company b
Page 63 and 64: Financial Statements 2002 Explanato
Page 65 and 66: Financial Statements 2002 6. Commit
Page 67 and 68: Other information 5. The company ma
Page 69 and 70: Ten years Boskalis Ten years Boskal
Page 71 and 72: Left Paul van der Burg, specialist
Page 73 and 74: The world of Boskalis The world of
Page 75 and 76: Organization Operational staff depa
Page 77 and 78: Offices around the world Rock Fall
Page 79 and 80: Offices around the world Stuyvesant
Page 81 and 82: Glossary Glossary Acquired orders T
Page 83 and 84: Glossary The extended trailing suct
Page 85 and 86: The dredging work done by Boskalis

Annual r eport 2002 Annual r eport 2002 - Boskalis

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