Annual r eport 2002 Annual r eport 2002 - Boskalis

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Financial Statements 2002 Company profit and loss account (1) (in € 1,000) 2002 2001 Company result ( 1,512 ) ( 283 ) Result of group company (2) 83,608 78,001 Net result 82,096 77,718 (1) The figures in brackets outside the columns refer to the explanatory notes (see pages 62 - 64). 61 Royal Boskalis Westminster nv
Financial Statements 2002 Explanatory notes to the company balance sheet and profit and loss account 1. General Unless stated otherwise, all amounts in these explanatory notes are stated in thousands of euros. The company balance sheet was, by contrast with previous years, drawn up before profit appropriation. The comparative figures have been adjusted accordingly. The company profit and loss account is limited in accordance with Section 402, Part 9, Book 2 of the Netherlands Civil Code. 2. Investment in group company This refers to the 100% investment in Boskalis Westminster Dredging bv, Papendrecht. Movements during 2002 were as follows: Book value as at 1 January 2002 374,976 *) Dividend received 2001 ( 30,000 ) Changes in ownership of own ordinary shares 893 Currency translation differences ( 14,772 ) Result of group company 83,608 Book value as at 31 December 2002 414,705 3. Issued and fully paid share capital The authorized share capital of € 240 million is divided into 50,000,000 ordinary shares and 50,000,000 cumulative protective preference shares of € 2.40 par value each. Movements of the issued and fully paid share capital were as follows: 2002 2001 Balance as at 1 January 63,520 60,050 Increase due to par value conversion from guilders to euros – 3,470 Balance as at 31 December 63,520 63,520 Movements in the number of ordinary shares and depositary receipts of shares owned by the company were as follows: 2002 2001 Balance as at 1 January 550,244 585,744 Exercised option rights ( 53,500 ) ( 35,500 ) Balance as at 31 December 496,744 550,244 The issued and fully paid share capital as at 31 December 2002 consists of 26,466,853 ordinary shares with par value € 2.40 each, and consequently amounts to € 63.5 million. Of the issued and fully paid share capital as at 31 December 2002, 496,744 ordinary shares are owned by Royal Boskalis Westminster nv. In 1997 and 1998, option rights were granted to twenty senior managers of Royal Boskalis Westminster nv and its group companies. In 2002, no option rights were granted. *) Adjusted for comparison purposes. 62 Annual Report 2002
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Annual report 2002 Rosmolenweg 20 3
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Innovation: where professionalism a
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Fast settling with BeauDrain soil i
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Company profile Company profile We
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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
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: Financial Statements 2002 Company b
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
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Annual r eport 2002 Annual r eport 2002 - Boskalis

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