Boskalis_Annual Report_2017

86 ANNUAL REPORT 2017 – BOSKALIS FINANCIAL STATEMENTS 2017 ANNUAL REPORT 2017 -- BOSKALIS FINANCIAL STATEMENTS 2017 86 OPERATIONAL SEGMENTS 4.1 2017 Revenue EBITDA Share in result of strategic investments Operating result (EBIT) Non-allocated finance income and expenses Non-allocated income tax expenses Net Group profit / loss (-) Carrying amount of strategic investments Investments in property, plant and equipment Amortization of intangible assets 2016 Revenue EBITDA Impact of Fugro (note 5.2) Book result of Kotug Smit Towage Operating result (before impairment losses) Non-allocated finance income and expenses Non-allocated income tax expenses Net Group profit / loss (-) Carrying amount of strategic investments Investments in property, plant and equipment Amortization of intangible assets Impairment losses on goodwill Impairment losses in joint ventures

DREDGING & INLAND INFRA

OFFSHORE ENERGY

TOWAGE & SALVAGE

HOLDING & ELIMINATIONS

GROUP

1,298,317

966,718

100,463

- 28,293

2,337,205

219,055

221,121

35,086

- 38,654

436,608

3,606

256

26,060

1,098

31,020

110,488

85,020

32,803

- 43,266

185,045 - 12,925 - 21,677 150,443

15,495

59,244

702,094

102

776,935

143,044

207,898

444

3,293

354,679

108,567

126,619

2,283

4,612

242,081

Depreciation on property, plant and equipment

-

9,482

-

-

9,482

DREDGING & INLAND INFRA

OFFSHORE ENERGY

TOWAGE & SALVAGE

HOLDING & ELIMINATIONS

GROUP

1,164,471

1,333,723

121,352

- 23,220

2,596,326

222,975

374,749

55,069

7,712

660,505

Share in result of strategic investments before impairments, excluding Fugro

3,612

2,175

35,541

39

41,367 - 30,094

- 30,094

Revaluation result of investment in VBMS Holding B.V. prior to business combination

- -

- -

- -

39,839 33,974

39,839 33,974

119,653

209,500

48,789

6,624

384,566 - 842,641 - 458,075 - 71,315 - 32,360 - 561,750

Impairment losses, including within joint ventures Result after impairments (before interest and tax expenses)

4,180

55,493

767,150

221

827,044

108,727

65,973

2,261

5,122

182,083

Depreciation on property, plant and equipment

104,569

157,078

6,280

856

268,783

Reversal impairment losses on property, plant and equipment

- 1,247

- 58

- -

-

- 1,305 8,461

-

8,229

232

Impairment losses on property, plant and equipment

16,530

338,303 382,269

7,957

3,427

366,217 382,269 94,155

- -

-

- -

-

94,155

As required by IFRS, the information as presented above reconciles to the internal management information of the Board of Management. In measuring the financial performance of operational segments, certain line items in 2016, relating to impairments and the impact of Fugro, were presented differently in the internal management information compared to the EU-IFRS consolidated financial statements. In the EU-IFRS Consolidated Statement of Profit or Loss the 2016 Result from operating activities (EBIT) shows a loss of EUR 458.1 million and includes impairment losses of EUR 842.6 million, including impairment losses accounted for within joint ventures. The Operating result (before impairment losses) presented in the comparative table above shows a profit of EUR 384.6 million profit and does not include these impairment charges. The impairment losses 2016 are specified for each operational segment in the table above.