2018 March 20 17:40

Van Oord posts results for 2017

In 2017, Van Oord recorded EUR 1.53 billion in revenue (2016: EUR 1.71 billion) with a net profit of EUR 78 million (2016: EUR 90 million), the company said in its press release. The revenue generated by our dredging division dropped to an historic low (EUR 923 million, 2016: EUR 1.18 billion). Offshore wind’s revenue came to EUR 403 million and was almost the same as the previous year (EUR 394 million). In spite of the poor market conditions, the Offshore oil & gas business unit’s revenue increased to EUR 204 million (2016: EUR 130 million) thanks to a number of major projects in our niche markets.

Net profit amounted to EUR 78 million (EUR 90 million in 2016). Most of this drop was due to less business activities of the company.

The EBITDA in 2017 was EUR 290 million (2016: EUR 333 million).

Van Oord order portfolio remained stable in 2017 at EUR 3.39 billion (2016: EUR 3.27 billion).