Highlights 2006
• Record turnover € 1,354 million (+ 17%), record profit € 116.6 million (+86%)
• Continued expansion of orderbook to more than € 2.5 billion
• Higher fleet utilization, rising margins
• Profit per share € 4.08, dividend per share € 2.04

Outlook
• 2007: increase in turnover, good equipment utilization, good margins
• Investment activity at a high level

Royal Boskalis Westminster nv achieved a net profit of € 116.6 million in 2006, which is 86% more than in 2005. Last year was closed with a 17% higher record turnover of € 1,354 million. Boskalis continued its selective contracting policy and benefited from market growth in the more traditional market areas such as Europe, the Middle East and Australia/Asia, as well as opportunities in emerging markets such as Brazil, Russia, India and China. The orderbook reached a new historical high of more than € 2.5 billion.

Peter Berdowski, Boskalis CEO (pictured) said:
"We have an excellent year behind us and our expectations for the years ahead are also good. Our vessels are almost fully utilized and we are focusing on a broad market spread and good margins. The challenge now will be to pick out the best projects."

Positive market developments in 2006
The volume of work on the international dredging market reached unprecedented heights, with many large projects in the pipeline. The company is following a policy based on a broad market spread, targeting both existing and new markets. Even more than previously, this means that Boskalis is making deliberate choices about the deployment of people and equipment. This selective contracting policy also produced good results in 2006.

The high market demand is primarily a feature of the markets driven by energy and raw materials. The core activity of dredging and earthmoving, and the partners Archirodon and Lamnalco, generated a strong flow of new contracts. The selective contracting policy made it possible to take appealing opportunities in the Middle East and Australia, and to respond well to new developments in Brazil, Russia, India and China.
But the prospects for Europe are also favorable. Preparations are underway for a range of extensions to container ports, particularly in Germany, the United Kingdom, the Netherlands, France and Spain. These projects are expected to generate a lot of work in the years to come.