Koninklijke Boskalis Westminster N.V.

Royal Boskalis Westminster is a service provider operating in the dredging, dry and maritime infrastructure and maritime services sectors. Co. is involved in dredging activities and provides a range of maritime services for the offshore energy sector. In addition, Co. provides towage services as well as emergency response and salvage related services. Co.'s main clients are oil, gas and power companies, port operators, governments, shipping companies, international project developers, insurance companies and mining companies. Co. operates on behalf of its clients in over 75 countries across six continents.
  • TickerBOKA
  • ISINNL0000852580
  • ExchangeEuronext Amsterdam
  • SectorConstruction & Materials
  • CountryNetherlands

Analysts

ING
Research Department

Benelux Morning Notes

Boskalis: Awarded large €250m offshore wind cable job Boskalis: Selected as contractor in Saudi Aramco's LTA programme

Alexander Makar ...
  • Bart Cuypers
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

KBC Securities Morning Note 9-11-2018 BOKA NA, COFB BB, IVA FR, KIN BB

Boskalis: Unchanged outlook Cofinimmo: 3Q18 results: promising and delivering Inventiva: YAP/TEAD poster presentation Kinepolis: Opens Fort McMurray (Canada) & preview 3Q18

ING
Tijs Hollestelle

Boskalis/The elephant in the room/HOLD

We believe earnings downside in the Offshore division largely disappeared after Boskalis removed the low end of the HMT fleet and took additional impairments in 1H18, but we also do not expect a material recovery before 2020-21. The dredging market is stable, but investors should note that the optical high €3bn order book contains a relative long tail. Also Boskalis' high 1H18 fleet occupancy rates are not a reflection of the overall market condition. We now expect FY18F net profit of €100m, which brings us to the elephant in the room, the dividend. We cut our FY18F DPS from €1.00 to €0.37 tak...

Bart Cuypers ...
  • Jan Opdecam
  • Sandra Cauwenberghs
  • Wim Hoste

KBC Securities Morning Note 3-10-2018 BOKA NA, CPINV BB, MITRA BB, TESB BB

Boskalis: € 100m dredging contract with LNG Canada CP Invest: Acquisition of new senior home in Belgium Mithra: Donesta phIIb results at NAMS conference Tessenderlo: Closing of T-Power NV acquisition

With a more favourable environment, ROYAL BOSKALIS WSTM.NV improves to Slightly Positive

ROYAL BOSKALIS WSTM.NV (NL), a company active in the Heavy Construction industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date October 2, 2018, the closing price was EUR 27.80 and its potential was estimated at EUR 29.61.

ING
Research Department

Benelux Morning Notes

Boskalis: Awarded large €250m offshore wind cable job Boskalis: Selected as contractor in Saudi Aramco's LTA programme

Alexander Makar ...
  • Bart Cuypers
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs

KBC Securities Morning Note 9-11-2018 BOKA NA, COFB BB, IVA FR, KIN BB

Boskalis: Unchanged outlook Cofinimmo: 3Q18 results: promising and delivering Inventiva: YAP/TEAD poster presentation Kinepolis: Opens Fort McMurray (Canada) & preview 3Q18

ING
Tijs Hollestelle

Boskalis/The elephant in the room/HOLD

We believe earnings downside in the Offshore division largely disappeared after Boskalis removed the low end of the HMT fleet and took additional impairments in 1H18, but we also do not expect a material recovery before 2020-21. The dredging market is stable, but investors should note that the optical high €3bn order book contains a relative long tail. Also Boskalis' high 1H18 fleet occupancy rates are not a reflection of the overall market condition. We now expect FY18F net profit of €100m, which brings us to the elephant in the room, the dividend. We cut our FY18F DPS from €1.00 to €0.37 tak...

Bart Cuypers ...
  • Jan Opdecam
  • Sandra Cauwenberghs
  • Wim Hoste

KBC Securities Morning Note 3-10-2018 BOKA NA, CPINV BB, MITRA BB, TESB BB

Boskalis: € 100m dredging contract with LNG Canada CP Invest: Acquisition of new senior home in Belgium Mithra: Donesta phIIb results at NAMS conference Tessenderlo: Closing of T-Power NV acquisition

Bart Cuypers ...
  • Cedric Duinslaeger

KBC Securities - Maritime Conference Book 2018

On Thursday 4 October we organize our annual Maritime Conference in London. This year we are delighted to welcome the management of the following companies: • Boskalis (Buy) • CFE (Buy) • Euronav (Accumulate) • Exmar (Buy) • Fugro (Accumulate) • SBM Offshore (Buy) • Sif (Pending initiation) • Vopak (Hold) Below you will find our Maritime Conference Book which will give you an overview of the companies present and investment cases.

1 director maiden bought

A director at Royal Boskalis Westminster Groep Nv maiden bought 10,000 shares at 24.690EUR and the significance rating of the trade was 76/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listi...

With a more favourable environment, ROYAL BOSKALIS WSTM.NV improves to Slightly Positive

ROYAL BOSKALIS WSTM.NV (NL), a company active in the Heavy Construction industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date October 2, 2018, the closing price was EUR 27.80 and its potential was estimated at EUR 29.61.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Koninklijke Boskalis Westminster N.V. - Proxy report- 15/08/2018

On 3 July 2018, Royal Boskalis Westminster announced that in light of strengthening the Offshore Energy division, the Supervisory Board has decided to increase the Board of Management from three to four members. Therefore, under agenda item 3, the Supervisory Board makes a binding nomination to appoint Mr. B.H. Heijermans, MSc, as new member of the Board of Management for a period commencing on 1 September 2018 until and including the Annual General Meeting of Shareholders in 2022. We have no concerns over the proposed appointment of Mr. Heijermans and recommend approval.

Valérie GASTALDY

Analyse court terme - BOSKALIS WESTMINSTER-CVA : La tendance est incertaine.

La tendance est incertaine. Les cours se sont repris, et ils commencent à montrer une certaine vigueur. Une nouvelle tendance haussière tente de démarrer.

Valérie GASTALDY

Short term view - BOSKALIS WESTMINSTER-CVA : The trend is uncertain.

The trend is uncertain. Prices have recovered and they are starting to display convincing strength. A new bullish trend is attempting to emerge.

Valérie GASTALDY

Analyse moyen terme - BOSKALIS WESTMINSTER-CVA : Le rebond gagne en vigueur.

La tendance de fond est clairement orientée à la baisse. Le rebond gagne en vigueur. Il est trop tôt pour parler de retournement haussier. La tendance de fond serait remise en cause en cas de franchissement de 33,11 €.

Valérie GASTALDY

Medium term view - BOSKALIS WESTMINSTER-CVA : The bounce is gaining strength.

The background trend is clearly bearish. The bounce is gaining strength. It is too early to qualify this market action as a bullish reversal. The background trend would be questioned should prices rise above €33.11.

Louis AZAIS

Short term view - BOSKALIS WESTMINSTER-CVA : The resistance has been passed.

The trend is still neutral but within that interval prices could head towards the top of the range.Arguments :- The resistance has been passed.- The major resistance is close.

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