PLEASE SWITCH OFF YOUR MOBILE PHONE

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1 PLEASE SWITCH OFF YOUR MOBILE PHONE 1

2 ALGEMENE VERGADERING VAN AANDEELHOUDERS PAPENDRECHT 8 MEI

3 AGENDA 1 Opening 3

4 AGENDA 2 Discussion of the Annual Report of the Board of Management relating to the Company s affairs and management activities in the financial year 2012 Behandeling van het jaarverslag van de Raad van Bestuur over de zaken van de Vennootschap en het gevoerde bestuur over

5 OUR WORLD 15,600 employees 1,100 vessels 75 countries across 6 continents 5

6 RECORD REVENUE AND ORDER BOOK Record revenue EUR 3,081 mln (2011: EUR 2,801 mln) Record order book EUR 4.11 bln (End 2011: EUR 3.49 bln) Net profit EUR 250 mln (2011: EUR 254 mln) EBITDA EUR 568 mln (2011: EUR 591 mln) Dividend proposal: EUR 1.24 per share (unchanged ) 6

7 KEY FIGURES EUR mln Revenue 3,081 2,801 2,674 2,175 Order book 4,106 3,489 3,248 2,875 EBITDA EBIT Net profit Return on equity 13.8% 15.4% 21.7% 21.1% Solvency 39.2% 37.4% 37.1% 46.5% 7

8 REVENUE BY SEGMENT (EUR bln) 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0, Dredging Offshore Energy Inland Infra Towage & Salvage 8

9 ORDER BOOK EUR bln % 33% 12% 15% 34% 20% Towage & Salvage Inland Infra Offshore Energy % YE 08 YE 09 YE 10 YE 11 YE 12 31% Dredging 9

10 GRADUAL SHIFT TO < 50% DREDGING EUR bln 3,0 2,5 2,0 1,5 1,0 0, Dredging Non-dredging 10

11 STEP-UP IN EBITDA PERFORMANCE (EUR mln) EBITDA EBIT Revenue 11

12 HEAVY MARINE TRANSPORT Dry transport Wet towage Ocean going tugboats Slow (typical jack-up towage speed of 3-4 knots) High insurance premiums (1-7% of cargo value, as 50% of all total losses of jack-up rigs occurred during transit) Dry towage Tug barge combination Semi-submersible barges with Dwt capacity of 12-15kton towed by ocean going tugboats Aft of the barge is lowered to the seafloor for loading and discharge operations Speed almost doubled to 7 knots Insurance cost halved to less than 4% of cargo value Self propelled vessels Initially propulsion assisted semi-submersible barges and later special vessels Loading operations based on even keel method which limits risk during critical loading and discharge operations Speed doubled once more to knots Typical insurance premium only ~ 0.2% of cargo value New Type 0 open bow vessel design allows for a 50% greater lifting capacity and a 70% greater deck area than the next largest ship 12

13 DOCKWISE STRATEGIC AGENDA BASED ON 3 PILLARS Heavy Marine Transport Focus on High End Invest in Type 0, I and II vessels Increase long term backlog targeting oil & gas projects Remain competitive for spot market cargo Transport & Installation Expand Service Scope Secure access to barge for jacket launch and crane vessel for jacket installation Offer topside float-over installation as from 4,000 mton Build an engineering and project management organisation Logistical Management Build Position Target LNG, refineries, mining and power plant projects Offer LM services under a lump sum contract 13

14 ACQUISITION HIGHLIGHTS Creates world-class oil and gas service provider Strengthen core competencies Global fleet & crew management Global customer network Potential for synergies Commercial: Accelerated growth in offshore and implementation of strategic agenda combining vessels with project management expertise and engineering know-how Operational: broader deployment of Dockwise vessels within the group Financial: Lower financial expenses and operational cost savings Strong EBITDA contribution and cash flow 14

15 OUTLOOK MARKET 2013 environment in line with 2012 BOSKALIS Stable operational margin development Healthy fleet utilization outlook Items that will impact 2013: Dockwise consolidation Q2 13 Acquisition related accounting effects Possible sale of 40% stake Archirodon Capex: EUR 400 mln incl Dockwise 15

16 AGENDA 3A Discussion and adoption of the Financial Statements for the financial year 2012 (vote) Bespreking en vaststelling van de jaarrekening over het boekjaar 2012 (stempunt) 16

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22 AGENDA 3A/B Discussion and adoption of the Financial Statements for the financial year 2012 (vote) Discussion of the report of the Supervisory Board Bespreking en vaststelling van de jaarrekening over het boekjaar 2012 (stempunt) Bespreking van het verslag van de Raad van Commissarissen 22

23 AGENDA 4A/B Appropriation of the profit for 2012 Dividend proposal (vote) Bestemming van de winst over 2012 Dividendvoorstel (stempunt) 23

24 AGENDA 5 Discharge of the members of the Board of Management in respect of the management activities of the Board of Management over the past financial year (vote) Decharge van de leden van de Raad van Bestuur voor hun bestuur over het afgelopen boekjaar (stempunt) 24

25 AGENDA 6 Discharge of the members of the Supervisory Board for the supervision of the management activities of the Board of Management over the past financial year (vote) Decharge van de leden van de Raad van Commissarissen voor hun toezicht op het door de Raad van Bestuur gevoerde bestuur over het afgelopen boekjaar (stempunt) 25

26 AGENDA 7 Re-appointment by the AGM of one member of the Supervisory Board: (i) Announcement of the vacancy in the Supervisory Board and of the right of recommendation of the AGM (ii) Decision regarding the omittance of recommendations to nominate a member of the Supervisory Board by the AGM (vote) (iii) If no recommendations as mentioned in sub (ii) are made, the decision by the AGM, to follow the nomination of the Supervisory Board and re-appoint Mr. M. Niggebrugge as member of the Supervisory Board (vote) 26

27 AGENDA 7 Herbenoeming door de Vergadering van één lid van de Raad van Commissarissen: (i) Mededeling van de vacature in de Raad van Commissarissen en van het recht van aanbeveling van de Vergadering (ii) Besluit over het achterwege laten van aanbevelingen tot voordracht van een lid van de Raad van Commissarissen door de Vergadering (stempunt) (iii) Indien geen aanbevelingen als bedoeld in sub (ii) worden gedaan, het besluit van de Vergadering om op voordracht van de Raad van Commissarissen over te gaan tot de herbenoeming van de heer drs. M. Niggebrugge tot lid van de Raad van Commissarissen (stempunt) 27

28 AGENDA 8 This agenda item has been cancelled Dit agendapunt is komen te vervallen 28

29 AGENDA 9 Announcement to the AGM concerning the intention of the Supervisory Board to appoint Mr. A. Goedée as member of the Board of Management Kennisgeving aan de Vergadering in verband met het voornemen van de Raad van Commissarissen om de heer A. Goedée te benoemen tot lid van de Raad van Bestuur 29

30 AGENDA 10 Authorization to the Board of Management to have the Company acquire shares in the capital of the Company (vote) Machtiging van de Raad van Bestuur tot het verwerven door de Vennootschap van aandelen in het kapitaal van de Vennootschap (stempunt) 30

31 AGENDA 11 Any other business Rondvraag 31

32 AGENDA 12 Close Sluiting 32

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