Boskalis jaarverslagen 2011

Glossary

Acquired orders

Contract value of acquired assignments.

Backhoe

A large hydraulic excavating machine positioned on the end of a pontoon. The pontoon is held firmly in place using spuds. Backhoes can dredge in a range of soil types with extreme precision.

Bucket dredger

The standard, anchored dredger with a revolving chain and buckets that dig into the bed and are discharged. This type of equipment is now mainly used for environmental dredging and other jobs requiring extreme precision, such as dredging tunnel trenches.

Bunker fuel

Type of fuel used by oceangoing and other vessels. Bunkering refers to the act or process of supplying a ship with this type of fuel.

Bunker vessel

Vessel used to supply oceangoing ships with fuel.

Cash flow

Group net profit adjusted for depreciation, amortization and impairments.

Completed contracts

Contract value of completed work.

Cost leadership

Achieving lowest cost price.

Cutter/Cutter dredger

See cutter suction dredger.

Cutter suction dredger

A vessel that dredges while being held into place using spuds and anchors. This technique combines powerful cutting with suction dredging. Cutter suction dredgers are mainly used where the bed is hard and compact. The dredged material is sometimes loaded into hoppers but is generally pumped to land through a pressure pipeline.

Decommission

To dismantle and/or remove an object.

EBITDA

Group earnings before the result of associated companies, interest, tax, depreciation, amortization and impairments.

CO2

Emissions Carbon dioxide released into the environment.

EU-IFRS IFRS

stands for International Financial Reporting Standards. EU-IFRS are financial reporting rules drawn up and issued by the IASB (International Accounting Standards Board) and adopted within the European Union. Since 2005 all publicly listed companies within the European Union have been obliged to comply with these standards in their external financial accounting/reporting.

Fallpipe vessel

Vessel that moves over the area to be covered, while dumping the stones on board through a fallpipe. The vessel is kept in place by a dynamic positioning system in which the propellers and rudders are controlled by an automatic system. The end of the pipe is located just a few meters above the level of the surface to be covered. The fallpipe is controlled using a precise positioning system. The fallpipe vessel Seahorse can also be equipped with an A-frame on the aftship and a grab controlled by an ROV (Remotely Operated Vehicle). This makes it possible to dredge down to depths of 1,000 meters.

Floating Sheerlegs

Floating cranes for heavy lifting.

FPSO

Floating Production Storage and Offloading system. Floating production, storage and transshipment systems that often operate a long way offshore. The systems separate the incoming liquids into oil, gas and water and temporarily store the crude oil. Tankers are used to transport the oil.

Futures

A future (derivative) is a so-called forward contract; an agreement between traders to purchase or sell certain financial products on a specified future date at a previously agreed fixed price.

Hazardous substances

Liquid or solid substances which present a health hazard and/or are damaging to the environment.

Global Reporting Initiative

International organization that develops global standards for sustainability reporting.

Home market 

Boskalis distinguishes itself from its competitors in the Dredging & Earth- moving segment by the use of a home market strategy. The home market organizations have local marketing profiles, as well as their own fleets and infrastructures. They can rely on the support of the financial and technical resources of the global Boskalis organization. Home markets provide a stable flow of assignments and opportunities to generate additional margins through associated activities.

Hopper/hopper dredger 

See trailing suction hopper dredger.

International projects market Market

that focuses primarily on larger capital expenditure projects for new buildings and/or extensions. In addition, there are projects that regularly involve cooperation with third parties. This makes it possible to provide clients with optimal services and to share risks.

LNG 

Liquefied Natural Gas.

LTI 

Lost Time Injury. Expresses the number of workplace accidents serious enough to result in absence from work.

LTIF 

Lost Time Injury Frequency. Expresses the number of workplace accidents serious enough to result in absence from work, per 200,000 hours worked.

Net Group profit 

Net result + net profit attributable to non-controlling interests.

Order book 

The revenue accounted for by parts of orders as yet uncompleted.

Return on capital employed 

Net result + interest paid on long-term loans as % of the average capital employed (shareholders’ equity + long-term loans).

Return on equity 

Net result as % of the average shareholders’ equity.

Revenue work done 

Volumes produced in a given period. The work may not yet be completed.

Roro (roll-on/roll-off) ship 

Vessels designed to carry wheeled cargo such as automobiles, trucks, semi-trailer trucks, trailers or railroad cars that are driven on and off the ship on their own wheels.

Rock fragmentation under water 

Drilling and blasting hard materials such as rock and granite, often to deepen ports and clear navigational channels.

SHE-Q 

Safety, Health, Environment & Quality.

Solvency 

Group equity as % of the balance sheet total (non-current assets + current assets).

TEU 

Twenty feet Equivalent Unit (container); often used to describe the cargo capacity of container ships and container terminals.

Trailing suction hopper dredger 

A self-propelled unit that loads its well or hopper using centrifugal pumps and pipes that trail over the bed as the ship sails. Trailing suction hopper dredgers can operate independently of other equipment and can transport material over long distances. The dredged material is dumped through flaps or bottom doors, by rainbowing, or pumped onto land using a pipeline.

Work in progress 

Projects that have not been completed on the balance sheet date but that have been finished in part.

Added to My report add to My report Source: Annual review 2011, Other information, page 133