Jan De Nul Group 2020:

KEY FIGURES

Solid sales of 1.9 billion euros
EBITDA of 344 million euros or 18% on sales: in the industry's leading group 

Net profit of 25 million euros
Sustained high solvency ratio of 72% thanks to a sustained policy of profit retention

Free of net debt, now seven years in a row
Resistant order book of 3.2 billion euros

Continued strong investment program, particularly in the sector of the offshore renewables www.jandenul.com/nl/jaarcijfers-2020

Diversification of operations contributes to solid financials

2020 was a year of unexpected challenges. COVID-19 required everyone to bring out the best in themselves to cope with these exhausting circumstances. Lockdown measures, working from home, travel restrictions; it all had a significant impact on the organization of global player Jan De Nul Group. The agility of the group and its employees, however, ensured that 2020 also closed with healthy financial results.

The expected revival of the international dredging market in 2020 experienced another delay due to the pandemic outbreak. However, the offshore segment was running at full speed. The offshore renewable energy market continues to grow at a high rate and the prospects are promising. After all, the market is no longer limited to Europe: Jan De Nul Group also built wind farms in Taiwan and the United States in 2020. The group's civil activities are holding up well thanks to a strong real estate market combined with some major projects in the infrastructure market. The environmental division, as the smallest activity branch of Jan De Nul Group, continues to perform stably. 

Jan De Nul Group could achieve annual sales of more than 1.9 billion euros by 2020. EBITDA was 344 million euros or 18% of sales, an industry-leading performance. This is the result of Jan De Nul Group's commitment to operational excellence. Jan De Nul Group continues to distinguish itself through its ultra strong balance sheet profile, with equity of more than €2.9 billion resulting in an unprecedented solvency of no less than 72%. The Group also relies on a significant liquidity position with a net cash surplus of EUR 279 million.

In addition, Jan De Nul Group continues to maintain its reputation as a strong investor. In 2020, the 6,000 m³ trailing suction hopper dredger Ortelius joined the fleet, as did the cutter suction hopper dredger Willem van Rubroeck, the most powerful cutter suction dredger in Jan De Nul's fleet. In January 2021, the 18,000 m³ trailing suction hopper dredger Galileo Galilei joined the fleet.

To strengthen its offshore fleet, Jan De Nul Group purchased the cable-laying vessel Connector in December 2020, and in the meantime, construction of the vessels Voltaire and Les Alizés also continues. Voltaire will be able to install wind turbines up to 270 meters high, unique in the market. Les Alizés will be a floating installation crane vessel and will be equipped with a main crane with a lifting capacity of 5,000 tons and equally impressive lifting heights. Both vessels are scheduled to enter service in 2022.

Jan De Nul Group is sailing a steady course with a healthy financial position and targeted investments. This pays off and translates into an order book of 3.2 billion euros by the end of 2020.