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
Tijs Hollestelle

Boskalis/Turning the corner/BUY (previously Hold)

We upgrade Boskalis from Hold to BUY and raise our target price to €26.25. After the severe and lasting downturn in the oil & gas sector we believe Boskalis will reach its trough EBITDA this year, while new orders coming in for 2020 and 2021 are improving visibility of the Offshore Energy division. The €100m loss provision in the offshore wind cable contract was a nasty surprise, but noting management's phrase ‘we brought in the dredging people' to deal with contract pricing followed by ‘it is time to take our gloves off', we are quietly confident the offshore wind business will soon be under ...

Bart Cuypers ...
  • Cedric Duinslaeger
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: ABI BB, BOKA NA, IBAB BB, SEQUA:BB, VPK NA

AB InBev: Continues to explore APAC IPO Boskalis: Two contracts for a total of € 85m IBA: 2nd Cyclone 70 contract of the year Sequana Medical: Upcoming medical conferences Vopak: 49% stake in Colombian LNG facility

KON.BOSKALIS WSTM.NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KON.BOSKALIS WSTM.NV (NL), a company active in the Heavy Construction industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 20.07 and its potential was estimated at EUR 23.05.

ING
Tijs Hollestelle

Boskalis/Turning the corner/BUY (previously Hold)

We upgrade Boskalis from Hold to BUY and raise our target price to €26.25. After the severe and lasting downturn in the oil & gas sector we believe Boskalis will reach its trough EBITDA this year, while new orders coming in for 2020 and 2021 are improving visibility of the Offshore Energy division. The €100m loss provision in the offshore wind cable contract was a nasty surprise, but noting management's phrase ‘we brought in the dredging people' to deal with contract pricing followed by ‘it is time to take our gloves off', we are quietly confident the offshore wind business will soon be under ...

Bart Cuypers ...
  • Cedric Duinslaeger
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: ABI BB, BOKA NA, IBAB BB, SEQUA:BB, VPK NA

AB InBev: Continues to explore APAC IPO Boskalis: Two contracts for a total of € 85m IBA: 2nd Cyclone 70 contract of the year Sequana Medical: Upcoming medical conferences Vopak: 49% stake in Colombian LNG facility

ING
ING Helpdesk

Benelux Morning Notes

ING Benelux Conference London - highlights. Other news: Belgian telecoms: Major court victory for the BIPT. Euronext: August activity levels bounce back. EVS: New CEO, surprise departure of Chairman. Fagron: Waterland/Baltisse divest another 7.25%

ING
Research Department

Benelux Morning Notes

BAM: Lower than expected Boskalis: Batten down the hatches IBA: Weak 1H19, promise of a much better 2H Kinepolis: Results a bit soft but summer looking good

Alan Vandenberghe ...
  • Alexander Makar
  • Bart Cuypers
  • Guy Sips
  • Jan Opdecam
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Thomas Couvreur

Morning Note: ADYEN NA, AED BB, BAMNB NA, BOKA NA, COFB BB, IBAB BB, KIN BB, LEAS BB

Adyen: 1H19: slight top-line beat but bottom-line surprise. Aedifica: € 7m expansion in Wurzen (GER) BAM Group: Good revenue development, but some extra costs Boskalis: Soft 1H19 results after offshore energy provision Cofinimmo: € 10m expansion in the Netherlands IBA: Strong revenue with weaker margins in 1H19 Kinepolis: Nice 1H19 results, reading through IFRS16-impact Leasinvest RE: 1H19: No surprises, pipeline sustain expectations Various: Removing Boskalis from Dynamic Top Pick List

1 director bought

A director at Koninklijke Boskalis Westminster Groep Nv bought 10,000 shares at 17.680EUR and the significance rating of the trade was 79/100. 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...

KON.BOSKALIS WSTM.NV sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KON.BOSKALIS WSTM.NV (NL), a company active in the Heavy Construction industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date September 10, 2019, the closing price was EUR 20.07 and its potential was estimated at EUR 23.05.

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 - AGM 08 May 2019

In general, Koninklijke Boskalis Westminster ("Boskalis") is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 8d, it is proposed to re-appoint Mr. Jaap van Wiechen as Member of the supervisory board for a term of appointment of 4 years. ECGS notes that the proposed term of appointment is NOT in accordance with provision 2.2.2 of the Dutch Corporate Governance Code. Aforementioned provision stipulates that "a supervisory board member is appointed for a period of four years and may then be re-appointed once for anothe...

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

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 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

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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