In 2023, Jan De Nul Group saw its turnover growing to EUR 2.9 billion, a record in the history of the Group. Looking forward, the company started the year 2024 with an unprecedentedly high order book of 8.9 billion euro, an increase of 38 per cent compared to last year.

The record turnover led to an increase in EBITDA with 39 per cent to EUR 610 million or 21% on turnover, globally resulting in a strong profit of EUR 296 million. These growth figures were achieved in a balanced manner through various innovative projects. This despite the current economic and geopolitical turmoil in several parts of the world. The projects in the order book are also well spread across all divisions of the Group.

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Maritime divisions in the lead

77 per cent of Jan De Nul Group’s turnover was achieved by its maritime divisions. In 2023, a multitude of projects was carried out around the world.

Coastal and shore protection works were carried out in Knokke, Belgium, in the form of beach replenishments. In Bangladesh, Jan De Nul Group continued the capital and maintenance dredging works for the access channels to the new Payra Port. The company was also active in the Middle East, amongst others, for the deepening of the access channels to the port of Jebel Dhanna. In Latin America, Jan De Nul Group is operating and maintaining the access channel to the port terminals of Guayaquil in Ecuador, this under a 25-year concession contract. Port infrastructure works were carried out in the Port of Gdynia, in Poland.

The offshore division deployed its newly delivered next-gen offshore vessels on their first projects. Jack-up installation vessel Voltaire is transporting and installing 277 turbines for the Dogger Bank A, B and C offshore wind farms, while heavy-lift vessel Les Alizés is performing the transport and installation of 107 foundations and one offshore substation in Germany for the Gode Wind 3 and Borkum Riffgrund 3 offshore wind farms.

During the summer, a 33 kV-interconnector cable was installed in the Pentland Firth seaway, between the Orkney-island of Hoy and the Scottish mainland. Where necessary, the cable was buried by the trencher Swordfish or protected by rock bags installed by multipurpose vessel Adhémar de Saint-Venant.

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Geographical presence

This year Jan De Nul Group undertook 371 projects around the globe. Europe, where all divisions of Jan De Nul Group are traditionally active, represents a strong 44 per cent share of the Group’s turnover. Asia and the Middle East were good for 33 per cent of the Group’s turnover. A 21 per cent share in turnover was attained by the Americas, while Africa contributed two per cent.

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Fleet investments

Jan De Nul Group shapes water and land. Therefore, based on the vision to create unique solutions worldwide, connect communities and improve infrastructure, the company continues to invest in the specialised and innovative fleet of tomorrow.

  • The Group ordered the pioneering XL cable-laying vessel Fleeming Jenkin. With an unmatched cable-laying capacity of 28,000 tonnes, this vessel will support the energy and cable industry by installing cables over longer distances and in deeper waters. In addition, state-of-the-art green technologies make the vessel a future-proof asset: ULEv (ultra-low emission vessel) technology, engines that can run on both biofuel and green methanol and a 2500 kWh energy storage system; these all allow Fleeming Jenkin to operate with remarkably low NOx and greenhouse gas emissions. Fleeming Jenkin is scheduled for delivery in 2026.
  • The offshore jack-up installation vessel Voltaire was delivered in late 2022. In 2023, the vessel launched its first mission to transport and install 277 wind turbines for the Dogger Bank offshore wind farm in the United Kingdom.
  • The heavy-lift vessel Les Alizés was delivered early 2023. Immediately upon delivery, the vessel’s mission equipment was installed in Poland. Specifically, an automated monopile handling system was installed on board, consisting of a set of cradles, a skidding system and an upending hinge to handle the XXL monopiles on board. After this, Les Alizés started its first mission to transport and install 107 foundations and 1 offshore substation for the German offshore wind farms Gode Wind 3 and Borkum Riffgrund 3.
  • Moreover, 2024 will bring more investment opportunities. Currently, the company’s in-house newbuilding department has various investment proposals on its drawing board, both for offshore and dredging innovations.

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Projects in the order book

Jan De Nul Group has a well-spread project portfolio. Some of the projects the company is working on or will soon work on are:

  • Jan De Nul Group has signed an agreement with RWE for the long-term chartering of its next-generation installation vessels. This to support the future RWE renewable offshore windfarm projects.
  • In the first half of 2023, Jan De Nul Group, together with its consortium partners, have been awarded a 525 kV HVDC cable system portfolio for the German electricity Grid by TenneT. Jan De Nul’s scope includes the transport, installation, and protection of the cables in the Wadden Sea, nearshore, and offshore sections for the cable system packages of BalWin 4, LanWin 1 and LanWin 5. The offshore operations will start in 2026. The combined DC cable length of the awarded portfolio is almost 2000 km.
  • The Belgian consortium TM Edison, in which Jan De Nul Group participates, was awarded the construction of the world’s first artificial energy island, the Princess Elisabeth island. The island’s high-voltage infrastructure will bundle the wind farm export cables of the Princess Elisabeth zone in the North Sea, whilst also serving as a hub for future interconnectors with Great Britain (Nautilus) and Denmark (TritonLink).
  • In the United Kingdom, Jan De Nul Group is responsible for the transport and installation of the GE Haliade-X offshore wind turbines at the Dogger Bank offshore wind farm, 130 km off the Yorkshire coast.
  • In Guyana, Jan De Nul Group participates in the project of Vreed-en-Hoop, which entails the dredging, reclamation, construction of a new shorebase, quay wall and access road and revetment works. This project is part of a master plan to help Guyana meet its strategic priorities to boost its economy along with helping the country expand key shipping and shorebase facilities to meet industry requirements.

Photo by Jan De Nul Group.

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