Boskalis jaarverslagen 2011

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  • Expansion of cost leadership
  • Further integration of activities
  • Invest in developing competencies

As an expert Boskalis occupies a unique position on the global maritime market. There is no other company that offers such a broad and integrated range of maritime products and services. We want to reinforce and expand this position by fully leveraging the synergy benefits of the combinations within the group. We improve our chances in the high-end segment by investing in developing competencies which strengthen our position as a Design, Construct & Maintenance contractor. At the same time, our focus on efficiency improvements and cost savings allows us to remain strongly competitive.

Cost leadership

The integration with SMIT is resulting in demonstrable economies of scale and has increased our purchasing power towards suppliers. Benchmarking and exchanging best practices allow us to reduce costs.

Result in 2011

Our target was to realize EUR 10 – 15 million of annual structural synergy benefits within three years of acquiring SMIT. At the end of 2010 this target was raised to EUR 20 – 25 million. We have now largely achieved the stated targets.

Integration and centralization of people and resources

Our broader range of products and services and our global presence create new commercial opportunities with both new and existing clients. In the business the two organizations are moving closer together and we are acting in concert in the market. This is where the greatest opportunities for synergy lie. Our support organization will become more efficient as we further integrate various corporate support activities and where possible physically house them under the same roof.

Result in 2011

The integration of Boskalis and SMIT is proceeding well and in parts more quickly than we had planned. In the section ‘Operational performance’ we provide a more detailed account of the current progress with regard to the organizational integration of the corporate support services and fleet management.

Invest in developing competencies

In order to provide our joint activities in the higher segment we are combining and reinforcing the necessary competencies. 
In Design, Construct & Maintenance contracts these are primarily our knowledge of engineering, cost estimating, work preparation, risk management, project management and innovation. In addition our knowledge of eco-dynamic design through the Building with Nature program and our environmental expertise through our in-house engineering consultancy Hydronamic are steadily gaining in importance. In the past few years Boskalis has strongly developed these competencies and specialist knowledge with regard to large, complex dredging projects. We now want to further develop this expertise and use it to scale up the group’s other activities towards turnkey projects. For example, we see opportunities in the energy market for positioning SMIT as an independent contractor on the one hand and providing complex dredging projects combined with SMIT activities on the other.

Result in 2011

We have made good progress in developing our core competencies. A good example is the Boskalis Leadership Development Program, through which we invest in the leadership skills of staff at both Boskalis and SMIT. This topic is covered in greater depth in our CSR report.

Added to My report add to My report Source: Annual review 2011, Boskalis at a glance, page 14