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Jan De Nul Releases 2018 Financial Report

June 5, 2019 By International Dredging Review

In 2018, Jan De Nul Group realized a turnover of 1,708 million euro ($1,922 million). The EBITDA amounted to 277 million euro ($312 million) or 16.22 percent of turnover. Jan De Nul Group has capital and reserves of more than 2.8 billion euro ($3.2 billion) and a solvency ratio of at least 73 percent. The group has a net cash surplus of 376 million euro ($423 million).

Current investments in newly built dredging vessels represented a total investment value of 400 million euro. In July 2018, Jan de Nul purchased the offshore jack-up installation vessel Taillevent, which immediately increased capacity to offshore wind customers. Jan De Nul earlier this year purchased the Voltaire, a next-generation wind installation vessel. This ship, due for delivery in early 2022, will be able to install wind turbines with heights up to 270 meters.

In 2018, the bulk of the activities of Jan De Nul Group was situated within the maritime, dredging and offshore industry, generating 75 perent of the total turnover of the group.

Jan De Nul Group was active in major coastal protection projects, such as on the Dutch island Texel, where Jan De Nul created a future-proof water barrier in the form of dune,s as well as a nature area to protect the island against rising sea levels.

Jan De Nul also executed several offshore wind farm projects and civil activities within Jan De Nul Group, represented 21 percent of the total turnover of the group.

Envisan, the environment division of Jan De Nul Group, focuses on environmental technology solutions. It showed a stable performance and generated about 4 percent of the total turnover. To support these environmental operations, the group operates six treatment and valorisation centres in Belgium and France.

In the financial year 2018, Jan De Nul Group maintained its high solvency level with a ratio of 73 percent (75 percent in 2017). The capital and reserves increased from 2,823 million euro ($3,177 million) in 2017 to 2,859 million euro ($3,218 million) in 2018.

Since 2014, Jan De Nul Group has remained net debt-free and improved its net cash position in 2018 to 376 million euro ($423 million).  

At the end of 2018, Jan De Nul Group had an order book of 3.3 billion euro ($3.7 billion), a significant increase of 27 percent compared to the end of 2017.

Jan De Nul Group continues to invest in the future:

 

  • In March 2019, the Keppel Singmarine shipyard in Nantong (China) delivered the first of three 3,500 cubic meter (4,578 cubic yard) trailing suction hopper dredges: the Afonso de Albuquerque. The two sister vessels, Diogo Cão and Tristão da Cunha, followed in April 2019.

 

  • The Keppel Offshore & Marine shipyard in Singapore booked considerable progress with the construction of two 6,000 cubic meter (7,848 cubic yard) trailing suction hopper dredges, to be named Sanderus and Ortelius. These vessels will be delivered at the end of 2019.

 

  • Also in 2018, the COSCO shipyard in Dalian (China) improved the design of the 18,000 cubic meter (23,543 cubic yard) trailing suction hopper dredger and purchased the necessary ship components. In January 2019, the steel structure works for the hull commenced. Construction is progressing on schedule and delivery is expected in 2020.

 

  • In 2018, Jan De Nul Group purchased three offshore platform supply vessels. The vessels are being converted into water injection dredgs or WID. This type of dredge is used for levelling or lowering the seabed by injecting water along the seabed thus raising the silt into suspension and moving it away. These diesel-electric vessels, equipped with a dynamic positioning (DP) system, are renamed Venturi Giovanni, Henry Darcy and Henri Pitot.

In a world of climate change and overall environmental consciousness, Jan De Nul Group has chosen to equip its latest generation of vessels with an ingenious filter system to eliminate toxic substances from exhaust gases. Vessels equipped with these filters meet the very strict emission requirements of the European inland navigation regulations (Stage V), which are stricter than the current IMO regulations for seagoing vessels. Jan De Nul Group is the first company within the sector to commission vessels that meet the very strict European emission standards. The vessels are certified as ULEv (Ultra-Low Emission vessel) by the independent and globally renowned inspection and classification body: Bureau Veritas.

To download the complete report click here annualreport.jandenul.com.

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