Boskalis Annual Report 2020

10

STRATEGY

We create and protect welfare and advance the energy transition.

FOCUS Value adding assets Creative innovative solutions Disciplined and selective tendering Operational excellence

SUSTAINABLE GROWTH Investments in distinct assets Invigorate climate change adaptation Advance energy transition Carbon neutrality

BOSKALIS 2020-2022

HUMAN EXCELLENCE Strategic workforce planning Leadership and talent development Knowledge sharing Employee engagement

Boskalis operates around the world and is a leading player in the fields of dredging, offshore energy and maritime services. The company is a frontrunner in many of its markets thanks to its ability to deliver innovative all-round solutions combined with a comprehensive portfolio of specialist activities. Its versatile vessels and maritime equipment with value-adding potential are the cornerstone of the Boskalis business model. Systematic execution of the strategy, which is reviewed regularly in light of relevant market developments, is a key factor in Boskalis’ success. Our strategy is elaborated in our three-year business plan. Following a thorough review of our markets and business lines, a new Corporate Business Plan was formulated early 2020 covering the period 2020-2022 that builds on three strategic pillars – Focus, Sustainable Growth and Human Excellence. The new plan as presented in March 2020 was however rapidly overtaken by the COVID-19 pandemic. It is currently still too early to reliably assess the mid- to long-term impact of COVID-19 on the global economy. However, near-term market developments have obviously been different from the assumptions underlying the 2020-2022 Corporate Business Plan. Notwithstanding this changed environment, significant progress was made with many of the strategic initiatives. A number of plans have been rephased as opposed to cancelled altogether. Nonetheless, a comprehensive review of the current business plan is called for once the COVID-19 pandemic is brought under control and its mid- to long-term impact less ambiguous. Boskalis will therefore review its relevant end-markets in the second half of 2021 with the intent to publish a new Corporate Business Plan for the period 2022-2024 in March 2022. OUR CONTRIBUTION Boskalis’ activities create economic value while addressing societal needs and challenges. This is also captured in our purpose statement “We create and protect welfare and advance the energy transition”. Across the breadth of the group our activities contribute to creating prosperity, for example by facilitating world trade, creating infrastructure as well as new land. Through our dredging and marine salvage activities we offer solutions to protect valuable areas and assets. Our coastal defense and riverbank protection activities protect society and the natural environment from the consequences of climate change, rising seas levels and extreme weather events. Our marine salvage business helps to prevent environmental disasters and recovers valuable vessels and their cargo. With our offshore energy activities, in particular through our offshore wind business, we help to advance the energy transition. Together these activities contribute significantly to achieving the UN Sustainable Development Goals (SDGs).

boskalis at a glance ANNUAL REPORT 2020 – BOSKALIS