Boskalis 2018 Half Year Report

HALF YEAR REPORT 2018 – BOSKALIS 14 14

OTHER FINANCIAL INFORMATION

Installation of a suction bucket jacket foundation for the Aberdeen Offshore Wind Farm by the floating sheerleg crane Asian Hercules III.

DEPRECIATION, AMORTIZATION AND IMPAIRMENTS

Mainly as a result of the prevailing weak market conditions in the offshore energy services sector, non-cash impairment charges of in total EUR 379.8 million before taxation (EUR 378.7 million after taxation) were accounted for. The largest part of this relates to the Offshore Energy division, of which EUR 136.9 million relates to an impairment charge for vessels and EUR 154.9 million to an impairment of goodwill. The remaining amount of EUR 88.0 million is related to goodwill embedded in the book value of the Kotug Smit Towage and Keppel Smit Towage joint ventures.

Depreciation and amortization amounted to EUR 119.7 million, excluding impairment charges.

INCOME FROM JOINT VENTURES AND ASSOCIATES

Our share in the net result of joint ventures and associated companies was EUR 14.8 million. This result relates mainly to our share in the net results of Smit Lamnalco, the Singapore partnerships with Keppel (Keppel Smit Towage, Maju Maritime and Asian Lift), Saam Smit Towage and Kotug Smit Towage.