Boskalis reports record-breaking performance but issues warning about the outlook before 2026

LootboxPhobia · 2026-03-05T12:22:57+00:00

Dutch Boskalis announced that FY2025 EBITDA will grow by 3% to a record €1.336 billion, excluding special gains, an increase of 16%. The growth mainly comes from offshore energy and tugboat businesses, but dredging and infrastructure segments declined by 14%. The company expects that performance in 2026 will be difficult to reach the 2025 level due to geopolitical issues and rising costs. In comparison, DEME's EBITDA grew by 22% to €930.5 million, with profit margins increasing by 375 basis points.

LootboxPhobia

2026-03-05 12:22:57

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Investing.com – DEME Group’s Dutch competitor Boskalis announced on Thursday that its EBITDA for fiscal year 2025 increased by 3%, reaching a record €1.336 billion.

Excluding a special gain of €148 million recorded in fiscal year 2024, EBITDA grew by 16%.

The performance growth was driven by a 2% increase in revenue, with the offshore energy sector growing by 5% and tugboat operations doubling. These gains offset a 14% decline in dredging and infrastructure divisions.

Boskalis’s full-year EBITDA margin was 29.7%. Excluding last year’s special gains, the margin increased by 350 basis points.

Looking ahead to fiscal year 2026, Boskalis stated it does not expect to reach the record performance level of 2025. The company pointed out that geopolitical tensions, trade restrictions, and rising costs are affecting investment appetite for large infrastructure projects.

The company noted that recent developments in the Middle East are creating significant uncertainty.

In contrast, DEME announced that its EBITDA for fiscal year 2025 grew by 22% to €930.5 million, with revenue of €4.1547 billion, up 1%. DEME’s EBITDA margin increased by 375 basis points to 22.4%. DEME expects to achieve a performance level comparable to 2025 this fiscal year.

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