Van Oord completed 229 projects across 39 countries in 2024, with net revenues of EUR 2,442 million, aligning with recent growth trends, according to the company's release.
The company’s turnover in 2023 was EUR 2,866 million, driven by higher-than-normal project completion rates. EBIT(DA) remained at a healthy level, while net profit reached EUR 43 million, down from EUR 127 million in 2023, due to setbacks on the Sofia offshore wind project in the UK.
The company invested approximately EUR 1 billion in its fleet, including the dual fuel vessel Boreas, capable of running on methanol and installing 20 MW offshore wind turbines. Boreas completed sea trials in November and arrived in the Netherlands for final outfitting and christening.
The dual fuel cable-laying vessel Calypso debuted in 2024, and the heavy lift installation vessel Svanen was modified to reach 125 metres for monopile foundation installation.
The dredging fleet expanded with two hybrid water injection dredgers, Rijn and Rhône, equipped with hybrid energy management systems, heat recovery systems, and exhaust gas aftertreatment devices to reduce energy consumption and emissions.
The Dredging & Infra business unit generated EUR 1,363 million in revenue, compared to EUR 1,442 million in 2023, supported by projects such as port deepening in Luleå, Sweden, and Walvis Bay, Namibia, alongside maintenance contracts in Paranaguá, Brazil, and Mumbai, India.
The Offshore Energy unit recorded EUR 1,079 million in revenue, down from EUR 1,424 million in 2023, with projects including the 920 MW Greater Changhua offshore wind farms in Taiwan and the Gas to Energy project in Guyana.
Van Oord Ocean Health installed droppable oyster structures in the Borssele offshore wind farm to enhance biodiversity.
In March 2025, Van Oord refinanced its Revolving Credit Facility, securing EUR 550 million from a syndicate of 12 international banks.
The company anticipates increased market volatility due to geopolitical instability and economic uncertainty but expects to capitalize on opportunities driven by the energy transition, climate adaptation, and demand for sustainable marine infrastructure, supported by its workforce and fleet.
Van Oord is a Dutch family-owned marine contractor headquartered in Rotterdam, Netherlands, specializing in dredging, marine engineering, and offshore energy projects. Established over 150 years ago, it operates globally with a workforce of approximately 5,766 employees (as of 2023) and a fleet of around 60 vessels.