Annual report 20108.31 MB - Boskalis

Summary Chairman’s financial statement information 2010However, last year we also achieved greatsuccess in our core activity of Dredging &Earthmoving, once again reaping the benefitsof our contracting policy of recent years whichenabled us to start 2010 with a well-filled orderbook.And so we made an excellent start with theintegration process, with business continuing verymuch as usual.The organization had to pull out all the stops - onthe projects, on the vessels, at the wharves and inthe offices. Everybody worked hard - both on theintegration and on our normal business.In the Oil & Gas segment we worked on the NordStream pipeline linking Russia and northernGermany. We also made a start on the sizableGorgon LNG project in Australia - a big challengefor the organization due to both its nature and inparticular the unique environment.In addition we started work on the second phaseof the LNG port at Cuyutlán in Mexico as well asthe expansion of the Soyo LNG port in Angola.In our Ports segment construction work on theMaasvlakte 2 in Rotterdam - a project which willcontinue through to mid-2012 - kept us very busyin the Netherlands in 2010. Most of the volume ofsand that needs to be delivered from the sea hasbeen deposited and we are now hard at work onthe sea wall in particular.In addition we, together with Archirodon,successfully completed the construction of thenew Khalifa Port in Abu Dhabi.And in the Caribbean we worked on deepeningand expanding cruise ship terminals, in theBahamas and in Jamaica.In the Land Reclamation & Coastal Protectionsegment work in the Netherlands was onceagain concentrated on tackling the sections ofcoastline known as the ‘Zwakke Schakels’ (WeakKey developments in 2010Record revenue € 2.7 billion and result € 311 million,earnings per share 3.11Well-filled order book € 3.2 billion with projects across allsegments and broad geographical spreadMerger with Smit Internationale N.V. completedFinancing of SMIT takeover completed with successful€ 354 million mln USPPLaunch of new NINA safety programNew 2011-2013 Corporate Business PlanLinks). Just before the end of the year we won thecontract to create a ‘sand motor’ off the coast ofthe province of Zuid-Holland.In the Maldives the reconstruction of another fourislands was completed in order to protect the localpopulation from rising sea levels.In Louisiana in the United States our Americantrailing suction hopper dredger Stuyvesantsuccessfully helped to build sand berms to protectthe ecosystem against the oil spill resulting fromthe disaster with the Deepwater Horizon rig.SafetyDespite the high level of operational activity andthe additional workload from the merger we onceagain managed to further improve safety on ourvessels and projects, as evidenced by the fact thatwe managed to again reduce the Lost Time InjuryFrequency rate, our leading safety indicator, from0.74 to 0.67. In our Corporate Social ResponsibilityReport we account for our economic, social andenvironmental performance and in which, amongstothers, Safety is a prominent aspect.Royal Boskalis Westminster nv5