Boskalis
| Royal Boskalis Westminster N.V. | |
|---|---|
 | |
| Quick Facts | |
| Type | Public |
| sector | Dredging & other maritime services |
| Headquarters (Benelux Organization) | Papendrecht, Netherlands |
| Year of Origin | 1910 |
| Emissions (Scope 1&2) | 1.078 Megatons of CO2 (2021) |
| Total Revenue | EUR 2.957 million (2021) |
| Stock Exchange | Amsterdam (Euronext) |
| Key People | Peter Berdowski (CEO), Carlo van Noort (CFO) |
| Number of employees | 10,250 (2021) |
| Subsidiaries |
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Royal Boskalis Westminster N.V., stylized as Boskalis, is one of the biggest dredging companies of the world. Traditionally, Boskalis' core activity is dredging, but today they also offer services such as the construction and maintenance of inland and offshore infrastructure, maritime services and contracting to the offshore energy sector, towage services, emergency response, and salvage services. Boskalis was established in 1910 by a group of families in Sliedrecht, the Netherlands. Its headquarters are located in Papendrecht, the Netherlands.
Company Structure
Boskalis was established in 1910 by a group of families in Sliedrecht, the Netherlands.[1] Back then, the dredging company did not go by the name Boskalis. In 1930, the name was changed into a more similar name to the current one: NV Baggermaatschappij Bos & Kalis.[2] In 1971 the company went to the stock market and lost its family character.
Rijkswaterstaat was and still is an important commissioning party for Boskalis. Rijkswaterstaat is part of the Dutch Ministry of Infrastructure and Water Management and in charge of the design, construction, management and maintenance of the main infrastructure facilities in the Netherlands.[3]
Boskalis has a long history of becoming less dependent from Rijkswaterstaat. In doing so, it entered the foreign market with varying success. Boskalis initially focused on neighboring countries (particularly Great Britain) and subsequently, via the Dutch East Indies, on Thailand, China and Japan. From 1950 onwards the Middle East and the expanding oil industry offered many new opportunities. In recent decades the tourist industry has become more important. This went hand in hand with financial risks.
After 1960 Boskalis also followed a strategy of growth through diversification by providing different services.[4] These strategies did not turn out to be a success. At the beginning of the 80s, the company was almost bankrupt. By focusing again on dredging and selling all the services that did not have anything to do with that, the company could survive.
Since 2000, Boskalis is again looking for ways to grow, although it focuses on maritime services. Present day, Boskalis has over 130 group companies in around 40 countries over the world.[5] Furthermore, Boskalis has over 25 joint operations.
Board of Management
The board of management consists of four members and is chaired by Peter Berdowski. They are responsible for the day-to-day management of the company.
| Name | Function | Remuneration x1000 EUR[7] |
|---|---|---|
| Peter Berdowski | Chairman | 2,486 EUR |
| Theo Baartmans | Member | 1,715 EUR |
| Bart Heijermans | Member | 1,291 EUR |
| Carlo van Noort | Chief Financial Officer | 1,244 EUR |
Supervisory Board
| Name | Function | Remuneration x1000 EUR[9] |
|---|---|---|
| Jeroen van der Veer | Chairman | >60 EUR |
| Jack de Kreij | Deputy Chairman | >45 EUR |
| Daan Sperling | Member | >45 EUR |
| Jacqueline Tammenoms Bakker | Member | >45 EUR |
| Jaap van Wiechen | Member | >45 EUR |
| Renée Jones-Bos | Member | >45 EUR |
Accountant
From the 2022 financial year on, KPMG is Boskalis’ auditor.[10] Before, the external auditor was Ernst & Young Accountants LLP (EY), but the maximum term of appointment has expired.
Main Activity
The company is divided into three segments: Dredging & Inland Infra, Offshore Energy, and Towage & Salvage.[11] Dredging and inland infra account for the biggest part of the revenue, with more than 50%. Close second is the offshore energy segment with around 43%. Last comes towage and salvage with around 5%.
Dredging is traditionally the core activity of Boskalis. Dredging is the activity of removing material from a water environment. This material can be reused elsewhere. According to Boskalis, projects that fall under this segment can consist for example of the construction, maintenance and deepening of ports and waterways; of land reclamation; of coastal defense and riverbank protection; of the extraction of minerals; and of soil improvement. In the Netherlands, Boskalis is also involved in dry infrastructure projects such as the construction of roads and bridges.
The Offshore Energy segment consists of projects involved in oil, gas, and renewable energy companies. Boskalis is for example involved in the engineering, construction, maintenance and decommissioning of oil and gas (LNG) facilities, offshore platforms, pipelines, cables and offshore wind farms.
Towage is the service of pulling a boat along by another boat. The joint ventures Keppel Smit Towage and Smit Lamnalco are the key players in this. They have over 200 vessels to provide assistance to oil and chemical tankers, LNG carriers, container ships and more. Salvage is the service of providing assistance to vessels in distress and of removing shipwrecks and hazardous substances.
Government
Rijkswaterstaat was and still is an important commissioning party for Boskalis.[12] Rijkswaterstaat is part of the Dutch Ministry of Infrastructure and Water Management and in charge of the design, construction, management and maintenance of the main infrastructure facilities in the Netherlands.[13] Boskalis has a long history of becoming less dependent on Rijkswaterstaat. In doing so, it entered the foreign market with varying success.
In 1978, Boskalis received the designation ‘Royal’.[14] This designation is awarded by the king or queen and symbolizes the respect, appreciation and trust towards the recipient.[15] The most important obligation following the designation is that the recipient will refrain from anything that will damage their reputation.[16]
Paris Agreement untill Today
What has company done or refused to do since the Climate Accord of Paris? Per company, where applicable refer to research on the benefits of fossil companies in the form of subisidies etc.
Financial Results since 2015
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| Year | Revenue | Profit | Dividend |
|---|---|---|---|
| 2015 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2016 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2017 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2018 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2019 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2020 | XXX Billion EUR | XXX EUR | XXX EUR |
| 2021 | XXX Billion EUR | XXX EUR | XXX EUR |
Scandals and controversies
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Current Emissions
In their annual sustainability report, Boskalis does not mention anything about the greenhouse gas emissions of scope 3.[17] Furthermore, they do not show separate numbers for scope 1 and 2. According to Boskalis, their total scope 1 and 2 CO2 emissions amounted to 1.08 million tonnes in 2021. The largest part of the CO2 footprint is linked to the vessels. Emissions from the fleet amounted to 1.06 million tonnes. The reported emissions are from the Offshore Energy division, the Dredging and Inland Infra division and from Offices. They do not include the emissions from the Towage and Salvage division, because the Towage business is incorporated in joint ventures and the Salvage operations rely on vessels from the other divisions or third parties.
| Year | Scope 1 & 2 |
|---|---|
| 2021 | 1.078 Megatonnes CO2 |
| 2020 | .984 Megatonnes CO2 |
| 2019 | 1.111 Megatonnes CO2 |
| 2018 | 1.180 Megatonnes CO2 |
Climate Policy and Plans
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Due Diligence
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Conclusion
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References
- ↑ Boskalis (n.d.). History. Retrieved on 11 April, 2022 from https://boskalis.com/about-us/history.html
- ↑ Goey, F. de. (2011). B. Bouwens, K. Sluyterman, Verdiept verleden. Een eeuw Koninklijke Boskalis Westminster en de Nederlandse baggerindustrie. BMGN - Low Countries Historical Review, 126(3), 132–133. https://doi.org/10.18352/bmgn-lchr.7414
- ↑ Rijkswaterstaat. (n.d.) About us. Retrieved on 11 April, 2022 from https://www.rijkswaterstaat.nl/en/about-us
- ↑ Goey, F. de. (2011). B. Bouwens, K. Sluyterman, Verdiept verleden. Een eeuw Koninklijke Boskalis Westminster en de Nederlandse baggerindustrie. BMGN - Low Countries Historical Review, 126(3), 132–133. https://doi.org/10.18352/bmgn-lchr.7414
- ↑ Boskalis. (2021). Boskalis annual report 2021. Retrieved from https://boskalis.com/
- ↑ Boskalis Annual report 2021, retrieved on april 6, 2022 on https://boskalis.com/ir/financial-publications.html
- ↑ Boskalis Remuneration report 2021, retrieved on april 6, 2022 on https://boskalis.com/ir/financial-publications.html
- ↑ Boskalis Annual report 2021, retrieved on april 6, 2022 on https://boskalis.com/ir/financial-publications.html
- ↑ Boskalis Remuneration report 2021, retrieved on april 6, 2022 on https://boskalis.com/ir/financial-publications.html
- ↑ Boskalis. (2021, March 31). AGM 12 May 2021 agenda. Retrieved from https://boskalis.com/ir/corporate-governance/general-meeting-of-shareholders.html
- ↑ Boskalis. (2021). Boskalis annual report 2021. Retrieved from https://boskalis.com/
- ↑ Goey, F. de. (2011). B. Bouwens, K. Sluyterman, Verdiept verleden. Een eeuw Koninklijke Boskalis Westminster en de Nederlandse baggerindustrie. BMGN - Low Countries Historical Review, 126(3), 132–133. https://doi.org/10.18352/bmgn-lchr.7414
- ↑ Rijkswaterstaat. (n.d.) About us. Retrieved on 11 April, 2022 from https://www.rijkswaterstaat.nl/en/about-us
- ↑ Boskalis (n.d.). History. Retrieved on 11 April, 2022 from https://boskalis.com/about-us/history.html
- ↑ Het Koninklijk Huis. (n.d.) Predicaat Koninklijk. Retrieved on April 19, 2022 from https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk
- ↑ Het Koninklijk Huis. (n.d.) Predicaat Koninklijk aanvragen. Retrieved on April 19, 2022 from https://www.koninklijkhuis.nl/onderwerpen/onderscheidingen/predicaat-koninklijk/aanvragen
- ↑ Boskalis. (2021). Boskalis sustainability report 2021. Retrieved from https://boskalis.com/.
- ↑ Boskalis. (2021). Boskalis sustainability report 2021. Retrieved from https://boskalis.com/.
- ↑ Boskalis. (2020). Boskalis sustainability report 2020. Retrieved from https://boskalis.com/.
- ↑ Boskalis. (2019). Boskalis sustainability report 2019. Retrieved from https://boskalis.com/.
- ↑ Boskalis. (2018). Boskalis sustainability report 2018. Retrieved from https://boskalis.com/.