Monday, April 15, 2024

‘Doubling of Profit and New CEO Announced by Company’

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Van Oord, a leading maritime contractor, achieved exceptional financial success in 2023 as it reported record-high revenue and more than doubled profits. The company experienced significant revenue growth in both its Dredging & Infra and Offshore Energy business units, with revenues reaching EUR 2.9 billion, a 42% increase from the previous year.

Net profits also saw a remarkable increase, doubling to EUR 127 million compared to EUR 60 million in 2022. This substantial growth was attributed to high fleet utilization and a sharp focus on risk and contract management.

The company’s strong performance was further reflected in its order book, which grew by 3% to EUR 4,429 million in 2023. Van Oord underwent a strategic repositioning during the year, merging four separate business units into two – Dredging & Infra and Offshore Energy.

As part of the leadership transition, CEO Pieter van Oord announced that he will be handing over the reins to his cousin, Govert van Oord, in April 2024, after more than 15 years at the helm. This transition from the fourth to the fifth generation of the Van Oord family marks a significant milestone in the company’s history.

Pieter van Oord expressed gratitude to colleagues worldwide for their dedication and contributions to the company’s success over the past 30 years. He emphasized the resilience and hard work that have enabled Van Oord to meet clients’ expectations and achieve healthy margins, especially after a challenging period.

Overall, Van Oord’s impressive financial performance in 2023 showcases its commitment to excellence and continuous growth in the maritime industry.

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