Van Oord marked a dynamic 2024, completing 229 projects across 39 countries and achieving solid operational results, despite challenges in the offshore wind sector. Revenues reached €2.44 billion, with net profit at €43 million, impacted by setbacks on the Sofia offshore wind project in the UK.
The company’s fleet investment programme hit its peak, with around €1 billion invested in recent years—its largest investment to date. Highlights include the dual fuel installation vessel Boreas, capable of running on methanol and installing 20 MW wind turbines, and the dual fuel cable-laying vessel Calypso, which debuted in 2024. Heavy lift vessel Svanen was upgraded to install next-gen monopile foundations, while two hybrid water injection dredgers, Rijn and Rhône, enhanced the dredging fleet with significant energy efficiency gains.
The Dredging & Infra division had a standout year, winning major projects in Sweden, Namibia, Brazil, and India, and recording revenues of €1.36 billion. Offshore Energy faced a tougher year, with revenues dropping to €1.08 billion from €1.42 billion in 2023, though notable milestones were achieved, including the Greater Changhua offshore wind project in Taiwan and the Gas to Energy project in Guyana. Van Oord also introduced innovative oyster reef structures at the Borssele wind farm, supporting marine biodiversity.
Looking ahead, Van Oord expects continued market volatility but remains optimistic, backed by a competitive fleet, skilled personnel, and a robust €550 million bank financing secured in early 2025. The company is confident in capitalising on opportunities in the global transition to renewable energy and climate-resilient infrastructure.
