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Boskalis raises 2013 outlook

November 19 - Boskalis has announced its Q3 2013 results, reporting higher revenue and earnings levels than in the first and second quarter, with its order book increased to EUR4.3 billion (USD5.8 billion).

In the heavy lift transport environment, Boskalis advised that the fleet utilisation at Dockwise was at a slightly lower level than in the first half of the year, but the Dockwise order book increased in the third quarter, due in part to two contracts for the Dockwise Vanguard. The sale of Dockwise Yacht Transport at the beginning of Q4 does not have a material impact on Boskalis' earnings in 2013.

The offshore energy segment had a good third quarter, reporting high activity levels for both subsea contracting and marine contracting, with floating sheerlegs utilisation remaining high, while marine services transport equipment utilisation level was low.

The level of towage and salvage activity was stable compared to the first half of the year. Overall, Boskalis' financial position remains strong and its net debt position declined further since mid-2013.

Due in part to a close-out result realised on the Port of Rashid project, and the favourable settlement of a longstanding equipment-related insurance claim, Boskalis has raised its earning outlook, with net profit expected to amount to at least EUR360 million (USD486.5 million).

www.boskalis.com

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