2020 was a year of unforeseen challenges. Because of COVID-19, everyone had to be more productive to deal with those grueling circumstances. Blocking measures, running away from home, travel restrictions; All of this has had a primary effect on the organization of global actor Jan De Nul Group, however, the flexibility of the organization and its staff also helped close 2020 with smart monetary results.
The expected recovery of the foreign dredging market at the host site in 2020 has been hampered by the pandemic. However, the offshore segment has been running at full speed. The high-sea renewable energy sector has continued to grow at high speed and the outlook is very encouraging. In fact, the market location is no longer limited to Europe: by 2020, Jan De Nul Group has also built wind farms in Taiwan and the United States. The group’s civil engineering activities have maintained its speed thanks to a buoyant real estate market, a place of reception combined with many primary projects in the infrastructure market, a place of reception. The functionality of Jan De Nul Group’s smaller commercial arm, its environmental division, remained stable.
In 2020, the Jan De Nul Group achieved annual sales of more than 1. 9 billion euros and EBITDA reached 344 million euros, or 18% of sales, a functionality in the industry-leading organization, as a result of Jan De Nul Group’s purpose for operational excellence The Jan De Nul Group remains at the forefront thanks to its ultra-strong balance profile , with an equity of more than 2. 9 billion euros, which results in an unprecedented solvency of 72% very healthy. liquidity position with a net liquidity surplus of EUR 279 million.
In addition, Jan De Nul Group maintains its reputation as a company that invests heavily. In 2020, the 6,000 m3 Ortelius drag liner was added to the fleet, such as the Willem van Rubroeck suction dredger, Jan De Nul’s toughest disintegration suction dredger. In January 2021, he joined through the 18,000 m3 trawler, Galileo Galilei.
For its offshore fleet, Jan De Nul Group purchased the send Connector cable in December 2020, and the structure of the Voltaire and Les Alizés shipments is already underway, which can install wind turbines up to 270 meters high, exclusive on the market. Alizés is a crane shipment for floating installations and will be supplied with a larger crane, a lifting capacity of 5,000 tons and, equally impressive, lifting heights. Both shipments are scheduled to be launched in 2022.
As a result, Jan De Nul Group is taking steady leadership with a strong monetary position and specific investments, which paid off and resulted in an order book of 3. 2 billion euros by the end of 2020.
ACTIVITIES 2020
The maritime and high seas dredging sector remains the cornerstone of the Jan De Nul Group in 2020, with 77% of the Group’s total turnover.
In 2020, Jan De Nul Group’s dredging department was guilty of deepening and widening the Elbe in Hamburg (Lower and Outer Elbe), Germany. In Africa, Jan De Nul Group has been active in Benin for coastal cover work near the coastal villages Avlékété and Djégbadji, a component of the city called Ouidah. Jan De Nul Group is building a submerged dam about 150 meters from the coast and wearing down the rehabilitation works of the beach. Work began in February 2018 and will be completed in 2021. In the Middle East, the Jan De Nul Group worked on the completion of the “Dibba Bulk Handling Terminal – Package 3” project, consisting of dredging work in the canal and basin. as well as the fishing port and port infrastructure operate in the United Arab Emirates. In Asia, Jan De Nul Group has carried out maintenance dredging work in the port of Mailiao, Taiwan. In Latin America, Jan De Nul Group also operates and maintains the access channel to the port terminals of Guayaquil, Ecuador, under a 25-year concession contract.
The offshore department has once again been involved in the structure of several offshore wind farm projects in Europe and outside Europe: in Belgium, Jan De Nul Group installed Northwester 2 and in Germany, the Trianel offshore wind farm. In Taiwan, Jan De Nul Group is responsible for the supply, shipment and installation of foundations, cables and wind turbines for 21 5. 2 MW Hitachi turbines for the Changhua offshore wind farm. Also in Taiwan, Jan De Nul Group executes the EPCI contract for the design, source and installation of four wind turbine foundations, four export cables and four7 inter-network cables for the Formosa 2 offshore wind farm. In the United States, Jan De Nul Group completed the shipment and installation of two marine wind turbines for the coast. Virginia offshore wind farm pilot project.
In addition, the offshore department has performed general offshore services, adding the preparation of onshore in Italy and Albania for a transadritic underwater pipeline, as well as rock installation paints for the structure of the Turtle LNG centre in Senegal-Mauritania. Greece, Jan De Nul Group has installed at wonderful depths an underwater cable of 135 kilometers in length for the interconnection between Crete and the Greek continent.
With 21% of the Group’s total turnover, civil activities remain more than a significant percentage of the Jan De Nul Group. The civil branch has a wide variety of projects in its portfolio, with a focus on complex design and engineering projects, in Belgium and abroad. . The type of projects ranges from buildings and transport-related infrastructure to water-related infrastructure, such as dock walls and locks. The civil branch provides its services to personal clients, public actors and participates in public-personal associations (APP). In Belgium, Jan De Nul Group continues to contribute to the renovation of the Leopold II tunnel in Brussels and, in Charleroi, has continued painting structures at the Great Charleroi Hospital (GHdC).
Envisan, Jan De Nul Group’s environment department, focuses on environment generation solutions. Environmental activities account for a solid point of 2% of the Group’s total turnover. In these activities, Jan De Nul Group owns and operates six soil and sediment recovery centres in Belgium and France. In Anvers, Belgium, Envisan has begun making soil cleaning paints at the Fort Philip site. As in previous years, the surrounding department paints strongly with maritime and civil activities and, in particular, with the Group’s allocation progression partner, PSR Brownfield Developers, active in the rehabilitation, conversion and sustainable progression of contaminated commercial sites and underutilized sites.
HIGH CREDIT VALUATION AND NET FINANCIAL DEBT
During the 2020 monetary year, Jan De Nul Group maintained its leading position in solvency with an unprecedented capital-balance ratio of 72%, from 2941 million euros in 2019 to 2950 million euros in 2020, thanks to a sustained policy of total reinvestment of profits (policy of non-payment of dividends).
Since 2014, Jan De Nul Group has been completely debt-free. This is unique, especially given the Group’s strong investment DNA. Jan De Nul Group is recently making significant and strategic investments in its offshore fleet, through the structure of the Jack-Up Voltaire installation ship and the giant crane ship Les Alizés. The position at the end of 2020 was EUR 279 million. This solid balance sheet is a core asset of the Jan De Nul Group in a context of economic volatility, long-term investment and competitiveness.
GEOGRAPHICAL PRESENCE
Although the global is its market, Jan De Nul Group still has a strong presence in Europe: 38% of its turnover has been generated in European countries, but Jan De Nul Group’s business, however, grew the most in Asia and the Middle East. The percentage of the Group’s turnover in the region continued to increase from 18% in 2018 to 27% in 2019 to 37% in 2020, which is due to the activities of the Jan De Nul Group for the structure of 3 giant offshore wind farms in Taiwan. In addition, until 2020, Jan De Nul Group will be active in America (13%) Africa (12%).
ORDER BOOK STABLE AT 3. 2 BILLION EUROS
Customers continue to greatly appreciate the diversity of Jan De Nul Group’s experience, in an order book of 3. 2 billion euros until the end of Jan De Nul Group’s 2020. La order book includes, among other major projects:
Maritime and offshore division
· In December 2020, Jan De Nul Group signed a contract with the Payra Port Authority for the depths of the existing port access channel. In January 2021, the ships Diogo Co and Henry Darcy mobilized in Bangladesh to begin work.
· In 2021, Jan De Nul Group will complete Ibistek’s port facility in Takoradi, Ghana. Also in Benin will complete the structure of the underwater breakwater and coastal cover paints.
· In the United Arab Emirates, Jan De Nul Group and his spouse will complete the extension of the port from Fujairah to Dibba.
· In Ecuador, Jan De Nul Group has a concession for the deepening and maintenance of the 95-kilometer access channel in the port of Guayaquil. After completing the deepening in 2019, Jan De Nul Group continues and operates the channel for the next 23 years.
· In Buenos Aires, Argentina, Jan De Nul Group presented a deepening and expansion crusade for the AGP port of Buenos Aires in October 2020. After completing the work of deepening and expanding, Jan De Nul Group will continue in intensity and breadth for 24 months until 2023.
· In Taiwan, Jan De Nul Group will continue maintenance dredging at mailiao port. After the 2018-20 maintenance contract, a new contract will be awarded for another 3 years until 2023.
· Jan De Nul Group has already effectively completed and delivered Taiwan’s first wind farm, Formosa 1 Phase 2, and is now proceeding to the structure of Taiwan’s current wind farm: the Changhua offshore wind farm with a capacity of 109 MW. They were installed for this goal by 2020 and until 2021, the cables between networks will still be laid and connected. Hitachi’s 21 5. 2 MW turbines will also be installed and launched in 2021.
· In 2020, Jan De Nul also began installing stakes for the double-envelope foundations of its third offshore wind farm in Taiwan, the Formosa 2 offshore wind farm, with a capacity of 376 MW. Lately booming, as is the laying of export cables. Next year, the foundations of the ducts, as well as the inter-network paint cables, will be installed. These cables will be laid through the Connector, the cable laying vessel recently purchased through Jan De Nul. Group, which is the best addition to Jan De Nul Group’s offshore fleet, and the paintings are expected to be completed by 2022.
· For the Kriegers Flak offshore wind farm, Jan De Nul Group installs a total of 72 wind turbines of 8. 4 MW each on behalf of Vattenfall Denmark. Together, they will produce enough green electricity for the annual intake of some 600,000 Danish households. The last turbine is expected to be installed in the summer of 2021. This offshore wind farm will be without delay the largest in Denmark and will increase Denmark’s offshore wind production by up to 16%.
· Jan De Nul Group will also send and install wind turbines at the Saint-Nazaire offshore wind farm in France. Preparation paints on the seabed will continue in 2021 and the installation of the 80 wind turbines is planned for 2022. Al as with the Kriegers Flak offshore wind farm, the Campañoles installation vessel Jack-Up Wind will also be used for this project.
· In the UK, Jan De Nul Group is guilty of sending and installing GE Haliade-X offshore wind turbines at Dogger Bank offshore wind farms from 2023. through Voltaire, the largest high seas lifting facility vessel in the Jan De Nul group in the world. The 3. 6 GW Dogger Bank wind farm, which will be delivered in 3 stages of 1. 2 GW in the North Sea, will be the world’s largest offshore wind farm once completed and is a joint venture between SSE Renewables and Equinor. Dogger Bank will generate enough strength once finished to force more than 4. 5 million homes a year, or approximately 5% of the UK’s electricity needs.
· In April 2020, Jan De Nul Group and his spouse signed contracts to obtain and install higher voltage cables that will connect the Dutch offshore wind farms “Hollandse Kust Noord” and “Hollandse Kust West Alpha” to the ground power grid.
In 2020, the main topics of interest of the commission were the design of the cables and the detailed design of the vertical tracking injector, Moonfish, which will bury the cables in the coastal stretch.
In 2021, the cables will be tested and manufactured, after which the actual installation paints will begin. The cable-laying vessel Isaac Newton will travel to South Korea to load the underwater cables and install them on their return to the Netherlands. It will be buried with UTV 1200 and Moonfish. The multipurpose ship Adhémar de Saint-Venant will draw cave paintings. The internal Starfish lifted shovel and a drag hopper dredger will also be mobilized.
Civil division
· In Belgium, Jan De Nul Group is involved in the scheldt tunnel structure for the Oosterweel project. The Scheldt tunnel is the maximum life link detail of the Oosterweel link and closes antwerp’s ring road on the north side. a total duration of 1,800 my will be built using the “submerged tube” method. Eight tunnel details of approximately 60,000 tonnes will be built each in the inner port of Zeebrugge, and then towed to Antwerp across the North Sea and the Western Scald, where it will be submerged in a pre-dredged trench in the Scald.
· In Belgium, Jan De Nul Group and its joint venture spouse are proceeding to the structure of Charleroi Hospital. With an opening scheduled for 2024, the 154,000 square meter complex is built on 42 acres with 1,000 beds.
· In compliance with the Constitution contract, Jan De Nul Group and its partners also have the structure of the Toots Thielemans and Lemonnier metro stations and 575 meters of underground tunnels in Brussels.
Environmental division
· In 2021, the surrounding department and its partners will continue to paint on the largest rehabilitation work ever done in the port of Antwerp: Fort Philip. These heavily polluted ruins will be enclosed in a water-resistant wall and a top layer. Flood defenses will increase the port’s dominance against flooding.
GREAT PROGRAM TO INVEST IN A MULTI-PURPOSE FLEET
Jan De Nul Group improves its existing investment program to keep its flexible and fashionable fleet up to date. The climate-friendly generation is one of the main topics of interest in this regard.
· The COSCO Dalian shipyard in China delivered the aspirant drag of Galileo Galilei in late 2020. This dredger has a hopper capacity of 18,000 m3 and joins our elite medium-sized dredgers. A peculiarity of this shipment and exclusive in the fleet of Jan De Nul. hoppers is that it has two independent hoppers on board, which allows to distribute slightly the dredged curtains on the two hoppers, thus optimally controlling the load and drafting.
· After Jan De Nul Group (again) acquired the Willem van Rubroeck disintegration dredger in October 2019 through the highest bid at a public auction in Croatia, it passed to Jan De Nul Group in February 2020 and transferred to the Remontowa shipyard in Poland in April 2020. InRemontowa, completed and delivered at the end of 2020. The shipment is lately in the direction of his first paintings in Mauritania.
With a transparent focus on tomorrow’s high seas energy projects, Jan De Nul Group is making a strategic investment in its specialized fleet for the high seas energy market.
· Jan De Nul Group commissioned the Self-Lift Installation Ship Voltaire Sea from the COSCO Heavy Shipping Industry shipyard in the spring of 2019. In May 2020, the first sheet metal cut. Delivery is expected in early 2022.
· In the fall of 2019, Jan De Nul Group ordered the shipment of the Les Alizés crane from the China Merchants Industry Holding Co. Shipyard. The shipment is also in the process of metal structure with its first metal plate in December 2020. Zero Fleet Jan in mid-2022.
· In late 2020, Jan De Nul Group purchased Ocean Yield ASA’s Connector cable laying vessel and offshore structure. The connector is a multipurpose underwater structure vessel DP3 Ultra Deepwater and Flex-Lay. The ship has a proven track record of installing force and umbilical cables on its double decks with a combined total payload capacity of 9,000 tons.
The green loan structured in accordance with the “Green Loan Principles” in accordance with the Loan Market Association (the industry agreement represented through banks, lawyers and other monetary actors). The objective is to publicize investment in green projects through the supply of banks and companies with on the characteristics of green loans.
Source: Jan De Nul Group