International dredging specialist Jan De Nul reported a net loss of €20m in 2021, compared to a net profit of €25m a year earlier, and even €61m in 2019.

This decline is due to disruptions in supply chains and operational construction processes affected by pandemic restrictions in 2021. But the Capellen-based company reassured with a positive Ebit of €16m and an Ebitda of €231m for a turnover of €1.7bn.

Above all, it is counting on a record order book of €4.6bn at the end of 2021, which represents a 43% increase in orders to return to profitability.

Other reassuring indicators: Jan De Nul has an uninterrupted solvency ratio of 67% thanks to the sustained policy of full profit retention. Equity remained stable at €2,951m at the end of 2021. Jan De Nul Group has had zero net debt since 2014 and has been able to maintain this position even with its strong investment policy.

At the end of 2021, no less than four vessels were under construction for Jan De Nul Group: two offshore vessels (the self-erecting installation vessel Voltaire and the heavy crane vessel Les Alizés), as well as two water injection dredgers. The net liquidity position at the end of 2021 amounts to €198m.

The offshore sector and marine dredging remained the group’s driving forces, representing 73% of total turnover, far ahead of civil engineering activities (20%).

This story was first published in French on . It has been translated and edited for Delano.