Annual report 20108.31 MB - Boskalis

Summary financial information 2010Chairman’s statementDear shareholders,2010 was a special and memorable year for Boskalis in many ways. Not just because it was the year in whichwe celebrated our centenary, but definitely also because it was a year in which we continued to develop thefoundations for the future of our company.Record revenue and profitAbove all, 2010 was a special year because of therecord level of revenue and net profit we achieved.Revenue rose by 23% to € 2.7 billion and net profitwas up 36% at 311 million, whilst the order bookremained at a respectable level of € 3.2 billion.Operating results of truly historic proportions.The merger with Smit Internationale N.V., whichwe completed with effect from 27 March 2010,made a major contribution to the growth figures weachieved in 2010.The combination of Boskalis and SMIT has createda world-class maritime player:• 14,000 employees;• 1,100 vessels;• active in 65 countries.As soon as the offer had succeeded we got down towork together on exploring the potential synergies- in terms of costs but in particular in the market.And the opportunities are plentiful. For example,we are working together increasingly closely tocut procurement costs, leverage each other’sknowledge and people, and more importantly: topiggy back on each other in the market.Over € 10 million in actual cost and other synergieshave been identified in 2010 and will be realizedover the next two years.4 Annual Report 2010