Annual report 2019

TABLE OF CONTENTS

Consolidated Statement of Profit or Loss

76 77 78 80 81 83 83 83 83 83 83 83 83 83 84 85 85 86 86 87 87 87 87 87 87 87 87 88 88 88 88 89 89 89 90 90 90 90 90 91 91 91 91 91 92 92 93 95 95 95 96 96 96 97 97 97 97 98 98

Consolidated Statement of Other Comprehensive Income

Consolidated Statement of Financial Position Consolidated Statement of Cash Flows Consolidated Statement of Changes in Equity

Explanatory notes to the Consolidated Financial Statements

1. 2.

General

Compliance with International Financial Reporting Standards

Compliance statement Adopted new standards

Changes in Principles of Financial Reporting New standards and interpretations not yet adopted

3.

Principles of Financial Reporting

Format and valuation

Consolidation

Foreign currencies Financial Instruments

Impairment

Intangible assets

Property, plant and equipment Joint ventures and associates Non-current financial assets

Financial instruments available for sale

Inventories

Unbilled and deferred revenue Trade and other receivables Cash and cash equivalents

Share capital

Interest-bearing borrowings

ANNUAL REPORT 2019 -- BOSKALIS FINANCIAL STATEMENTS 2019 Employee benefits Provisions Leases Assets held for sale Revenue Personnel expenses Earnings per share Dividend 4. Segment reporting 5. Investment in Horizon 6. Revenue 7. 8. 9. Personnel expenses 10. 11. 12. Income tax expenses

Trade and other payables

Other income and other expenses

Raw materials, consumables, services and contracted work

Finance income and expenses

Share in result of joint ventures and associates Taxation / deferred income tax assets and liabilities

Determination of fair value

Consolidated statement of cash flows First-time application of IFRS 16 Leases

Business combinations and other significant transactions

Acquisition of offshore activities of Bohlen & Doyen GmbH Sale of interest in partnership SAAM Smit Towage Sale of interest in partnership Kotug Smit Towage

Other income and other expenses

Raw materials, consumables, services and subcontracted work

Reversal of impairments evidenced by a sale transaction and impairment charges

Finance income and expenses