Annual report 20108.31 MB - Boskalis

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Financial statements 2010Ownership interestCompany City of incorporation Country of incorporation 2010 2009Aannemingsmaatschappij Markus B.V. Halfweg The Netherlands 100% 100%Baggermaatschappij Boskalis B.V. Papendrecht The Netherlands 100% 100%Baggermaatschappij Holland B.V. Papendrecht The Netherlands 100% 100%Boskalis B.V. Rotterdam The Netherlands 100% 100%Boskalis Cofra Holding B.V. Amsterdam The Netherlands 100% 100%Cofra B.V. Amsterdam The Netherlands 100% 100%Boskalis Dolman B.V. Dordrecht The Netherlands 100% 100%Boskalis Markus B.V. Papendrecht The Netherlands 100% 100%Boskalis Westminster Dredging B.V. Papendrecht The Netherlands 100% 100%Boskalis Holding B.V. Papendrecht The Netherlands 100% 100%Boskalis Westminster International B.V. Papendrecht The Netherlands 100% 100%Boskalis International B.V. Papendrecht The Netherlands 100% 100%Boskalis Offshore B.V. Papendrecht The Netherlands 100% 100%Boskalis Finance B.V. Papendrecht The Netherlands 100% 100%Boskalis Westminster Shipping B.V. Papendrecht The Netherlands 100% 100%Boskalis Maritime Investments B.V. Papendrecht The Netherlands 100% 100%BW Soco B.V. Sliedrecht The Netherlands 100% 100%Hydronamic B.V. Sliedrecht The Netherlands 100% 100%A.H. Breijs & Zonen B.V. Rotterdam The Netherlands 100% 100%J. van Vliet B.V. Wormerveer The Netherlands 100% 100%SMIT Harbour Towage Rotterdam B.V. Rotterdam The Netherlands 100% —SMIT Heavy Lift Europe B.V. Rotterdam The Netherlands 100% —Smit Internationale Beheer B.V. Rotterdam The Netherlands 100% —Smit Internationale N.V. Rotterdam The Netherlands 100% —SMIT Marine Projects B.V. Rotterdam The Netherlands 100% —Smit Nederland B.V. Rotterdam The Netherlands 100% —SMIT Salvage B.V. Rotterdam The Netherlands 100% —SMIT Subsea Europe B.V. Rotterdam The Netherlands 100% —Smit Terminals Division B.V. Rotterdam The Netherlands 100% —SMIT Terminals Europe B.V. Rotterdam The Netherlands 100% —Smit Transport & Heavy Lift Division B.V. Rotterdam The Netherlands 100% —SMIT Transport Europe B.V. Rotterdam The Netherlands 100% —Smit Vessel Management Services B.V. Rotterdam The Netherlands 100% —URS Nederland B.V. Terneuzen The Netherlands 100% —Smit Harbour Towage Belgium N.V. Antwerpen Belgium 100% —SMIT Transport Belgium N.V. Antwerpen Belgium 100% —Towage Holdings N.V. Antwerpen Belgium 100% —Unie van Redding- en Sleepdienst België N.V. Antwerpen Belgium 100% —Unie van Redding- en Sleepdienst N.V. Antwerpen Belgium 100% —URS Salvage & Maritime Contracting N.V. Antwerpen Belgium 100% —Heinrich Hirdes GmbH Hamburg Germany 100% 100%Heinrich Hirdes Kampfmittelräumung GmbH Duisburg Germany 100% 100%Westminster Dredging Company Ltd Fareham United Kingdom 100% 100%Boskalis Westminster Ltd Fareham United Kingdom 100% 100%Westminster Gravels Ltd Fareham United Kingdom 100% 100%Boskalis Zinkcon Ltd Fareham United Kingdom 100% 100%Llanelli Sand Dredging Ltd Llanelli United Kingdom 100% 100%Rock Fall Company Ltd Ayrshire United Kingdom 100% 100%Smit Salvage Ltd. Isle of Man United Kingdom 100% —Smit Terminals Europe Ltd. Isle of Man United Kingdom 100% —Smit Harbour Towage (U.K.) Ltd. London United Kingdom 100% —Smit Octo-Luktrans Limited Isle of Man United Kingdom 100% —116 Annual Report 2010
Financial statements 2010Ownership interestCompany City of incorporation Country of incorporation 2010 2009Smit Subsea Africa Ltd. Isle of Man United Kingdom 100% —Atlantique Dragage SARL Nanterre France 100% 100%Sociedad Española de Dragados SA Madrid Spain 100% 100%Dragapor Dragagens de Portugal SA Alcochete Portugal 100% 100%Terramare Oy Helsinki Finland 100% 100%Boskalis Offshore A/S Randaberg Norway 100% 100%Boskalis Sweden AB Gothenburg Sweden 100% 100%UAB Boskalis Baltic Klaipeda Lithuania 100% 100%UAB Smit Octo Klaipeda Lithuania 100% —SMIT Terminals Sakhalin LLC Yuzhno-Sakhalinsk Russia 100% —Boskalis Westminster Dredging Ltd Nicosia Cyprus 100% 100%BW Marine (Cyprus) Ltd Nicosia Cyprus 100% 100%Boskalis Westminster Middle East Ltd Nicosia Cyprus 100% 100%Boskalis Westminster Dredging and Contracting Ltd Nicosia Cyprus 100% 100%Smit-Lloyd (Antillen) N.V. Limited Bahamas Bahamas 100% —Smit International (Argentina) S.A. Buenos Aires Argentina 100% —Boskalis do Brasil Dragagem e Serviços Maritímos Ltda Rio de Janeiro Brazil 100% 100%Smit Marine Canada Inc. Whitehorse Canada 100% —Smit Terminals Sonagas S.A. Malabo Equatorial Guinea 64% —Dragamex SA de CV Coatzacoalcos Mexico 100% 100%Codramex SA de CV Coatzacoalcos Mexico 100% 100%Coastal and Inland Marine Services Inc. Ancon Panama 100% 100%Smit Harbour Towage (Panama), Inc. Panama City Panama 100% —Boskalis Westminster St. Lucia Ltd Castries St. Lucia 100% 100%Riovia SA Montevideo Uruguay 100% 100%Smit Salvage Americas Inc. Wilmington United States of America 100% —Stuyvesant Dredging Co. Metairie United States of America 100% 100%Boskalis Westminster Inc. Wilmington United States of America 100% 100%Smit Amandla Marine (Pty) Ltd. Cape Town South Africa 70% —Smit Marine South Africa (Pty) Ltd. Cape Town South Africa 100% —Smit Internationale (Gabon) S.A. Port Gentil Gabon 100% —Nigerian Westminster Dredging and Marine Ltd Lagos Nigeria 60% 60%Smit Nigeria Ltd. Lagos Nigeria 40% —Smit Terminals Nigeria LTD Lagos Nigeria 40% —Boskalis Australia Pty Ltd Chatswood Australia 100% 100%Smit Marine Australia Pty Ltd Sydney Australia 100% —Taizhou Smit Towage Company Ltd. Taizhou China 60% —Smit Usturt Maritime Services LLP Aktau Kazakhstan 50% —Boskalis International (S.) Pte Ltd Singapore Singapore 100% 100%Zinkcon Marine Singapore Pte Ltd Singapore Singapore 100% 100%Koon Zinkcon Pte Ltd Singapore Singapore 50% 50%Smit Land & Marine Engineering (Far East) Pte. Ltd. Singapore Singapore 100% —Smit Offshore Maintenance (S) Pte. Ltd. Singapore Singapore 100% —Smit Shipping Singapore Pte. Ltd. Singapore Singapore 100% —Smit Singapore Pte. Ltd. Singapore Singapore 100% —Smit Tak Heavy Lift (S) Pte. Ltd. Singapore Singapore 100% —Boskalis Taiwan Ltd Taipei Taiwan 100% 100%Smit Kueen Yang Harbour Services Company Ltd. Taipei Taiwan 80% —Boskalis Westminster (Oman) LLC Seeb Oman 49% 49%Boskalis Westminster Al Rushaid Co Ltd Dhahran Saudi-Arabia 49% 49%SMIT Subsea Middle East L.L.C. Dubai United Arab Emirates 49% —Royal Boskalis Westminster nv117
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AnnualRePORT2010
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Key figuresRevenue segmentationReve
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Summary financial information 2010A
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Summary financial information 2010C
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Chairman’s statementA major initi
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8Maasvlakte 2 project, the Netherla
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Boskalis at a glanceCompany profile
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Boskalis at a glanceActivitiesDredg
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StrategyContainer throughput* (mill
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StrategyIn the next few years we wi
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Summary financial information 20102
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Boskalis at a glanceShareholder inf
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24Cutter suction dredgersCutter suc
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Report of the Supervisory Boardinve
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Report of the Supervisory Boardexte
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Summary Report of financial the Sup
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Summary financial information 20103
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Summary Report of financial the Boa
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Report of the Board of ManagementHi
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Report of the Board of ManagementRe
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Report of the Board of ManagementRe
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Report of the Board of Managementex
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Report of the Board of ManagementOp
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Operational performance• Echoscop
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Report of the Board of ManagementCo
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Report of the Board of ManagementOp
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Report of the Board of Managementpo
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Risk managementRisks with regard to
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Report of the Board of ManagementCo
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Report of the Board of ManagementOu
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62Trailing suction hopper dredgersT
Page 69 and 70: Financial statements 2010Financial
Page 71 and 72: Financial statements 201013. Intang
Page 73 and 74: Financial statements 2010Consolidat
Page 75 and 76: Financial statements 2010Consolidat
Page 77 and 78: Financial statements 2010(in € 1,
Page 79 and 80: Financial statements 2010the identi
Page 81 and 82: Financial statements 2010translatio
Page 83 and 84: Financial statements 2010of assets.
Page 85 and 86: Financial statements 2010to an amou
Page 87 and 88: Financial statements 2010The intere
Page 89 and 90: Financial statements 2010The operat
Page 91 and 92: Financial statements 2010Review in
Page 93 and 94: Financial statements 2010The revenu
Page 95 and 96: Financial statements 201011. Income
Page 97 and 98: Financial statements 201013. Intang
Page 99 and 100: Financial statements 2010Land andbu
Page 101 and 102: Financial statements 201018. Due fr
Page 103 and 104: Financial statements 201021.4 Earni
Page 105 and 106: Financial statements 2010To finance
Page 107 and 108: Financial statements 2010Some of th
Page 109 and 110: Financial statements 2010The provis
Page 111 and 112: Financial statements 20102010 2009B
Page 113 and 114: Financial statements 2010Currency t
Page 115 and 116: Financial statements 201026.2 On-ba
Page 117 and 118: Financial statements 2010The result
Page 119: Financial statements 201028. Subseq
Page 123 and 124: Financial statements 2010Joint vent
Page 125 and 126: Financial statements 2010Transactio
Page 127 and 128: Financial statements 2010Company in
Page 129 and 130: Financial statements 2010Statement
Page 131 and 132: Financial statements 20103. Investm
Page 133 and 134: Financial statements 20109. Auditor
Page 135 and 136: Financial statements 2010Independen
Page 137 and 138: Other informationTen-year overview
Page 139 and 140: Other informationStichting Continu
Page 141 and 142: Supervision, Board & ManagementMemb
Page 143 and 144: Supervision, Board & ManagementDred
Page 145 and 146: Other informationDisclosures requir
Page 147 and 148: Other informationGlossaryAcquired o
Page 149 and 150: ColophonCompiled and coordinated by
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