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Jan De Nul reflects on challenging 2021

By: Tom Russell 30/05/2022 Jan De Nul

Corporate General

Jan De Nul Group achieved an annual turnover of more than €1.7 billion euro in 2021. EBITDA reached €231 million, up 13% yoy. It also achieved a positive EBIT of €16 million.

The marine contractor recorded a limited loss of €20 million in 2021 which was attributed to the loss of productivity due to COVID-19 disruptions over 2021.

Its balance sheet finished with an equity in excess of €2.9 billion, resulting in a solvency ratio of 67%. The Group also recorded a net liquidity surplus of €198 million.

Its order book increased by 43% up to €4.6 billion by year end. This order book further increased over the first months of 2022 with additional projects signed for a total value in excess of €1.4 billion.

The maritime dredging and offshore sector make up the lion's share of Jan De Nul Group’s activities, representing 73% of the total turnover.

The offshore division was involved in the construction of several offshore wind farm projects, in and outside Europe. In Denmark, Jan De Nul Group installed 72 windmills for the Kriegers Flak offshore wind farm and in France the preparatory works started for the installation of wind turbines for the Saint-Nazaire offshore wind farm.

Outside Europe, more specifically in Taiwan, Jan De Nul Group is responsible for the supply, transport and installation of foundations, cables and wind turbine generators for 21 units of 5.2 MW Hitachi turbines for the TPC Changhua offshore wind farm. The installation works were completed in December 2021. Also in Taiwan, Jan De Nul Group executes the EPCI-contract for the design, supply and installation of 47 WTG foundations, 4 export cables and 47 inter array cables for the Formosa 2 offshore wind farm.

In Greece, Jan De Nul Group finished the installation of a 135-kilometer long submarine cable for the interconnection between Crete and the Greek mainland. In Senegal-Mauritania, over two million tonnes of rock were installed by subsea rock installation vessel Simon Stevin for the construction of the Tortue LNG hub. Finally, rock installation works started in Taiwan for the Greater Changhua offshore wind farms.

Towards the end 2021, a joint Venture of Korea Electric Power Corporation (KEPCO), Electricité de France (EDF) and Kyushu Electric Power Japan awarded a HVDC cable installation and convertors package for the ADNOC-TAQA Lightning Project in Abu Dhabi (U.A.E.) to a consortium composed of Jan De Nul Group and Samsung C&T. Jan De Nul will be in charge of the design, installation, burial and protection of two cable clusters of almost 1,000 km in total, connecting the islands Al Ghallan and Das in the Arabian Gulf to the onshore converter stations at Al Mirfa and Shuweihat.

For more information on offshore wind farms worldwide, click here.

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Jan De Nul reflects on challenging 2021

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