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Boskalis jaarverslagen 2012

Inland Infra

Riverbank protection and construction of roads and railroads, bridges, dams, overpasses and terminals including earthmoving, soil improvement and remediation.

Inland Infra 2013 2012
(in millions of EUR)    
Revenue 667 777
EBITDA 38.7 78.8
Operating result 8.3 38.1
Order book 923 1,533

At the beginning of July 2013 Boskalis sold its 40% stake in Archirodon for USD 190 million. As a result Archirodon is no longer included in the consolidated figures as from 1 July 2013. The divestment resulted in a book gain of EUR 50.9 million, which has been recognized under ‘Other income and expenses’ in the Holding and Eliminations segment.

Revenue

Revenue in the Inland Infra segment was EUR 667 million (2012: EUR 777 million). The decline is largely attributable to the sale of the 40% stake in Archirodon. Excluding Archirodon revenue was EUR 499 million (2012: EUR 511 million).

Segment result

EBITDA and operating result in the Inland Infra segment were EUR 38.7 million and EUR 8.3 million, respectively (2012: EUR 78.8 million and EUR 38.1 million, respectively). Archirodon’s share in the operating result was EUR 9.7 million (2012: EUR 28.6 million). Results in the Netherlands were under pressure, mainly as a result of the extremely competitive market conditions in the Dutch market for infrastructure projects. The integration of MNO Vervat into Boskalis Nederland was started at the beginning of the year under review, with implementation subsequently being accelerated in light of the worsening market conditions. The integration will be completed in the course of 2014. In connection with this, substantial integration and restructuring charges were taken during the year.

Order book

At the end of the year the Inland Infra order book stood at EUR 923 million. Excluding our 40% share of the Archirodon order book the order book was worth EUR 954 million at the end of 2012 (including Archirodon: EUR 1,533 million).

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