Annual Reports

2015 was in many ways a year of major challenges. The growth of the global economy slowed down strongly, with also the BRICS countries joining this negative trend. In addition, oil prices reached unprecedented lows. The conditions in which Jan De Nul Group had to deliver a strong result, were – to put it mildly – quite challenging. However, thanks to its diversification, both as to activities and geographically, the group more than met the expectations.

Compared to 2014, the turnover increased by almost 10% to 2,244 million Euro, thus exceeding for the fifth year in a row the 2 billion Euro mark. This increase in turnover is largely the result of the successful implementation of some major projects: the construction of the Suez Canal in Egypt, port extension works in Ghana (Takoradi), the development of a port terminal in Panama, the extension of the Brisbane airport in Australia and the construction of a port site for an oil refinery in Nigeria. Also the EBITDA ratio showed a significant increase and reached the record amount of 632 million Euro. Expressed as a percentage of the turnover, the EBITDA thus increased to 28%, which is well above the company’s objective of 20%-25%. Parallel with this, the net profit increased to 265 million Euro.

In 2015, Jan De Nul Group generated its turnover for 72% from its dredging and offshore activities, for 25% from its civil activities and for 3% from its environmental activities. Dredging and maritime work are still the core business of Jan De Nul Group.