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Boskalis jaarverslagen 2012

Holding and eliminations

Non-allocated head office activities.

HOLDING AND ELIMINATIONS

 

2015

 

2014

(in EUR million)

    

Revenue eliminations

 

-15.2

 

-7.1

EBITDA

 

-30.3

 

-48.1

Net result from JVs and associates

 

-2.8

 

0.0

Operating result (EBIT)

 

-51.8

 

-47.9

Segment result

The operating result mainly includes the usual non-allocated head office costs as well as various non-allocated (in many cases non-recurring) income and expenses.

In addition to these costs a negative result of on balance EUR 3.4 million was accounted for on the stake in Fugro. This result includes a positive revaluation from the first half of 2015 (EUR 28.5 million), an impairment charge per year-end (EUR 28.8 million) and our share in a negative operational result of Fugro.

Our share in the operational result of Fugro amounted to minus EUR 3.1 million and is recognized as net result from joint ventures and associates. In accordance with IFRS the result reported by Fugro has been adjusted for the effects of the Purchase Price Allocation carried out by Boskalis in connection with the reclassification of the stake as ‘associate’.

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