The year 2016 was a challenging one for Van Oord. Revenue decreased to an amount of EUR 1.71 billion (2015 EUR 2.58 billion) and net profits went down to EUR 90 million (2015: EUR 169 million).
In dredging, revenue was EUR 1,189 million in 2016 (2015: EUR 1,622 million): the downward trend being most obvious in Areas Europe and Middle East & West Asia (Suez Canal). Deteriorated market conditions were tangible in the Offshore oil & gas division, with revenue standing at EUR 130 million, considerably lower than in 2015 (EUR 242 million). Offshore Wind Projects generated EUR 394 million in revenue, compared with EUR 715 million in 2015. The decline mainly had to do with the Gemini project, which was in full swing in 2015 and was completed in 2016.
Read more in the press release dated 21 March 2017.
The power of offshore wind
Van Oord is at the forefront of work that contributes to global, European and Dutch goals to combat climate change and reduce carbon emissions. As such, Van Oord acts as an agent of change to accelerate the energy transition while also creating economic benefits and societal value.
Given its key role in the Gemini project, one of the world’s largest offshore wind projects, Van Oord has set out to understand and measure the value for the environment and for society. For this purpose Van Oord and KPMG applied KPMG’s True Value methodology.
Watch the animation video to learn about how Van Oord created societal value while doing business. Or read the leaflet “The power of offshore wind”.
Call on Dutch government to take action
Together with four leading Dutch companies (Shell, Eneco, Siemens and Port of Rotterdam Authority) Van Oord formed the “Transitiecoalitie” to accelerate the energy transition towards a cleaner energy system. In order to urge the Dutch government to take action on the Dutch Energy Agreement, the five companies want to show their commitment to take a part in this public debate. More than thirty other Dutch companies have also signed this plea.