UPDATED: HAL Holding makes offer to acquire Boskalis – wants to take company private 

HAL said it believes that given Boskalis’ business characteristics, the long-term nature of its larger projects, typically spanning multiple years, and the cyclicality of its underlying markets, Boskalis could benefit from private ownership with a long-term investment horizon, and that such private ownership could also enhance M&A opportunities.

HAL said it informed Boskalis of the offer on 8 March 2022. It said, “HAL fully appreciates that the board of Boskalis will need to evaluate all components of the proposed transaction before taking a definitive position. HAL has invited Boskalis to meet at short notice with a view to further discussing the proposed offer.” 

On 10 March 2022, Boskalis said its board of management and supervisory board will carefully consider all aspects of the proposed offer and would update the market if and when appropriate.

Reporting its 2021 financial results on 10 March 2022, Boskalis said it concluded the year with a strong increase in revenue and earnings and with a well-filled order book, despite Covid-19-related restrictions.

Revenue increased to €2.96Bn (2020: €2.52Bn) and the EBITDA increased from €404M last year to €462M in 2021. Operating result increased by 42.0% to €199M (2020: €140M) and net profit was €151M. A year ago the company reported a net loss of €97M.

Boskalis chief executive Peter Berdowski said, “Looking back at 2021, we delivered an excellent performance.

“Despite the still restrictive Covid-19 measures, we managed to execute our projects well. In financial terms we can speak of a successful year. Our EBITDA has increased significantly and we have also acquired a large number of projects. In addition, our financial position remained rock-solid.”

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