ALGEMENE VERGADERING VAN AANDEELHOUDERS PAPENDRECHT, 10 MEI 2016

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1 ALGEMENE VERGADERING VAN AANDEELHOUDERS PAPENDRECHT, 10 MEI

2 AGENDA 1 Opening 2

3 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 2015 Behandeling van het jaarverslag van de Raad van Bestuur over de zaken van de Vennootschap en het gevoerde bestuur over

4 OUR WORLD REVENUE BY GEOGRAPHY The Netherlands 13% 20% Rest of Europe 19% 8% 16% 24% Australia / Asia Middle East Africa North and South America 4

5 KEY FIGURES EUR mln Revenue 3,240 3,167 Order book 2,490 3,286 EBITDA * Result JVs & associates EBIT * Net profit Solvency 56.3% 53.4% * Includes net result of the joint ventures and associated companies 5

6 REVENUE BY ACTIVITY 2015 (EUR mln) 2014 (EUR mln) 9% 9% 38% 3,240 53% 39% 3,167 52% Dredging & Inland Infra Offshore Energy Towage & Salvage 6

7 DREDGING & INLAND INFRA Strong operational performance and very high vessel utilization Successful completion of Suez canal project Good contribution by Dutch Inland Infra Order book decline largely due to Suez Canal and divestment De Jong Strabag acquisition - consolidation & fleet renewal EUR mln Revenue 1, ,664.8 EBITDA* Result in JVs & associates EBIT* Order book per YE 1, ,014.2 * Includes net result of the strategic JVs and associated companies 7

8 OFFSHORE ENERGY Exceptionally good result given deteriorated market conditions Good vessel utilization: HMT: 76% (2014: 84%) Subsea services and short term transport most impacted by O&G downturn Opportunities in offshore wind market (Volker Offshore) & decommissioning EUR mln Revenue 1, ,238.6 EBITDA* Result in JVs & associates EBIT* Order book per YE ,207.4 * Includes net result of the strategic JVs and associated companies 8

9 TOWAGE & SALVAGE Towage underlying stable year in NW Europe YoY decline due to transfer of activities to Saam Smit Towage JV JV with KOTUG closed in April 2016 Salvage very busy year with mix of emergency response and wreck removal EUR mln Revenue EBITDA* Result in JVs & associates EBIT* Order book per YE * Includes net result of the strategic JVs and associated companies 9

10 ASSETS (EUR mln) YE 2015 (EUR mln) YE ,228 6,605 1,157 5,913 4,580 4,358 Fixed Assets Current Assets Cash & Equivalents (incl AHFS) 10

11 LIABILITIES (EUR mln) YE 2015 SOLVENCY: 56.3% (EUR mln) YE 2014 SOLVENCY: 53.4% Net Debt: 171 Net Debt: ,820 6,605 3,714 1,699 5,913 3,152 Shareholders equity ST liabilities LT liabilities (incl minority) Interest bearing debt (incl AHFS) 11

12 HEALTHY CASH FLOW (EUR mln) H1 H2 12

13 RECENT TRANSACTIONS STRABAG Wasserbau (dredging) Asset transaction Consolidation play & fleet replacement VolkerWessels Offshore Acquire part of existing 50% business Opportunities in European wind market KOTUG SMIT Towage JV Created European harbour towage JV Financial close April

14 OUTLOOK 2016 Continued market weakness due to low oil and commodity prices Enhanced opportunities in offshore wind market Backlog provides reasonable coverage for 2016 in Dredging & Offshore Fleet rationalization & cost reduction program Net result substantially lower than very strong 2015 CAPEX: approx. EUR 200 mln 14

15 AGENDA 3 Execution remuneration policy 2015 Uitvoering bezoldigingsbeleid

16 AGENDA 4A (a) Discussion and adoption of the Financial Statements for the financial year 2015 (vote) (a) Bespreking en vaststelling van de jaarrekening over het boekjaar 2015 (stempunt) 16

17 Koninklijke Boskalis Westminster N.V. Controle Jaarrekening 2015 Ernst & Young Accountants LLP 10 Mei 2016

18 Koninklijke Boskalis Westminster N.V. Controle Jaarrekening 2015 Oordeel Strategie Uitvoering Jaarrekening Getrouw beeld IFRS en Titel 9 BW2 Bestuursverslag Overeenstemming wet- en regelgeving Aanpak Top down Risico gericht Reikwijdte controle Scoping (groeps)onderdelen Materialiteit 5% resultaat voor belastingen Kernpunten controle Waarderingen 2015: Belang FUGRO Communicatie 10 Mei 2016

19 AGENDA 4A/B (a) Discussion and adoption of the Financial Statements for the financial year 2015 (vote) (b) Discussion of the report of the Supervisory Board (a) Bespreking en vaststelling van de jaarrekening over het boekjaar 2015 (stempunt) (b) Bespreking van het verslag van de Raad van Commissarissen 19

20 AGENDA 5A/B (a) Appropriation of the profit of 2015 (b) Dividend proposal (vote) (a) Bestemming van de winst over 2015 (b) Dividendvoorstel (stempunt) 20

21 AGENDA 6 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) 21

22 AGENDA 7 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) 22

23 AGENDA 8 Cancellation voluntary large company regime (vote) Afschaffing vrijwillige structuurregime (stempunt) 23

24 AGENDA 9 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) 24

25 AGENDA 10 Any other business Rondvraag 25

26 AGENDA 11 Close Sluiting 26

27 VERMEER KOMT THUIS mede mogelijk gemaakt door Boskalis Prinsenhof, Delft 25 maart - 17 juli

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