Annual r eport 2002 Annual r eport 2002 - Boskalis

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Wave patterns translated into working days. Boskalis plays a prominent role in this successful industrial cluster. Permanent innovation is inherent in the culture of the company and it has many facets. Innovation affects not only the technical core activities such as working methods and equipment, it also affects matters such as environmental dredging, innovative contracts and financing, and staff training. Boskalis sails full ahead when it comes to devising and introducing innovations in numerous areas. There is also intensive collaboration between the company, its suppliers and other business partners. An important innovation at present is the fleet overhaul, a program that has been in place for a number of years now. Modern insights and practical working experience on projects result in cost-leading designs for new ships. Existing fleet units are also regularly modified to incorporate the latest techniques. Environmental dredging is also an important area in which Boskalis makes innovations. Not only are clients' environmental requirements transformed into appropriate solutions, Boskalis also looks at clients' wishes in terms of the possible risks for the environment. Clients’ technical specifications are also regularly examined and improved in certain areas. Its continuous innovations and specialist expertise in the area of the environment allow Boskalis to provide actual practical solutions that benefit the environment. Here, the risk monitoring systems developed by the company itself play an increasingly important role in the environmental implementation of projects. Innovative contracts and financing are other facets of innovation. More and more often, Boskalis is asked to provide clients with total solutions for their infrastructure needs. This covers the entire project cycle: from functional requirements through design and implementation to financing and complex project management. The client benefits as a result of cost savings generated by the early introduction of expertise into the design process. Implementation is also more efficient and the completion stage is reached earlier by means of effective project management. This sort of innovation fits in with a modern partnership approach to customers and contractors. Boskalis also innovates in the area of knowledge transfer. You can't learn about dredging from books alone. Practical experience makes the world of difference in dredging. Much of that expertise and experience is lodged in the minds of experienced personnel. It needs to be transferred properly to the large group of new personnel who have joined Boskalis in recent years. One example of knowledge transfer is the use of cutter suction dredger and hopper dredger simulators. These make it possible for fleet crews and superintendents to acquire practical experience that can also include new techniques. In addition, the International Dredging Academy and the supervision in practice of controllers on international projects are just some examples of structured knowledge transfer within the company. Rostock tunnel project: innovative approach. It is vital for technical training to keep up with dredging innovations. Specialized departments such as Research & Development and the engineering consultancy Hydronamic bv work to strict theoretical standards in order to bring theory and practice together. With the same end in mind, Boskalis is also involved on the educational level with training institutes (including Delft Technical University and other educational establishments at all levels throughout the Netherlands). Royal Boskalis Westminster nv
Company profile Company profile We move the earth to a better place. 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. Its core activities include the construction and maintenance of harbors and waterways, the creation of land in water, and coastal defense and riverbank protection. The company also operates in numerous home markets in a wide range of related activities such as sand and gravel production, soil improvement, dry earth movement, environmental activities, marine offshore services, munitions clearance and tunnel building. Boskalis has a wide spread of operations worldwide. It has a unique market position with ten home markets that together generate some 60% of turnover. In addition, Boskalis has operations in over 50 countries on five continents. The company has grown at an average annual rate of more than 10% in the past decade. This growth was achieved both autonomously, and by takeovers and participating interests in other companies. The company has a solid financial basis and a healthy cash flow. Core activities The global market for maritime infrastructure is driven by long-term economic factors such as increases in the global population, the growth of the global economy and international trade volumes. The prospects in the long-term with respect to these factors are positive, despite the current global stagnation in economic growth and the uncertainties in various countries. Its global spread and operational flexibility mean that Boskalis can respond to changing opportunities in different markets. The world picture is currently dominated by political and economic uncertainties. In the short-term, this will have an effect on some Boskalis markets. Construction and maintenance of harbors and waterways. The growth in the volume of global trade has increased the demand for container ports on international shipping routes. Not only are the ports becoming larger and deeper as a result of the scaling up of container ships, the number of ports is also increasing as more and more countries get involved in the global production and exchange of goods. The established ports are competing with each other for regional leadership, as we can see in Asia (Singapore, Hong Kong, Pusan), Western Europe (Rotterdam, Antwerp, Hamburg, Felixstowe) and North America (New York, Halifax). Ports are also being built or scaled up in numerous developing countries such as India, Malaysia and Mexico. The increasing demand for larger and deeper ports is accompanied by the need for keeping them deep. This leads to increases in maintenance volumes, particularly in areas with strong currents or tidal variations. Strong growth container turnover (in million TEU) 6 Annual Report 2002
Page 1 and 2: Annual report 2002 Rosmolenweg 20 3
Page 3 and 4: Innovation: where professionalism a
Page 5: Fast settling with BeauDrain soil i
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 and 40: Dick Bodegom, Chief Engineer Resear
Page 41 and 42: Report of the Supervisory Board Rep
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
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Financial Statements 2002 In princi
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Financial Statements 2002 The bonus
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Financial Statements 2002 Company b
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Financial Statements 2002 Explanato
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Financial Statements 2002 6. Commit
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Other information 5. The company ma
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Ten years Boskalis Ten years Boskal
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Left Paul van der Burg, specialist
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The world of Boskalis The world of
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Organization Operational staff depa
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Offices around the world Rock Fall
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Offices around the world Stuyvesant
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Glossary Glossary Acquired orders T
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Glossary The extended trailing suct
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The dredging work done by Boskalis
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