Boskalis’ strategy is aimed at the opportunities and challenges that present themselves to the company. This strategy is based on two pillars: Focus and Strengthen & Rationalize. Focus is aimed at Value-Adding Assets and specific market segments. In this context we are increasingly seeing that clients request us to provide integrated, innovative services or turnkey solutions, whereby they also often want to assign the responsibility for the associated risks to us.
Boskalis operates in markets that are mainly driven by long-term demographic and economic factors, including growth of the global population, expansion of the global economy and growth in international trade and transport volumes, particularly seaborne. Although the long-term prospects for these factors are favorable, the trends in a number of the regions and markets in which Boskalis operates are developing less favorably and the outlook for both the short and the medium term is uncertain.
Certainly also in light of the above, effective management of both risks and opportunities is essential for the successful realization of the group’s strategy and plans. Identifying, assessing and managing risks and opportunities – particularly with respect to tendering, preparation and execution of projects – is an integral part of our management approach.
An overview of the key strategic, operational and financial risks and risks with respect to the financial reporting is set out below. Where possible, given the nature of our activities, we have stated what kinds of risks we are prepared to accept and for what kinds of risks we generally take mitigating measures.