Van Oord’s 2017 Annual Report Presented

Van Oord, a Dutch contracting company that specializes in dredging and land reclamation, yesterday presented the 2017 Annual Report and decided to change the composition of their Supervisory Board.

During the yesterday’s General Meeting of Shareholders, it was announced that the company recorded EUR 1.53 billion in revenue with a net profit of EUR 78 million in 2017.

The Annual Financial Statements were adopted and, following a proposal from the Executive Board and the Supervisory Board, the General Meeting of Shareholders adopted a resolution to distribute a dividend of EUR 34 million.

The shareholders granted discharge of liability to the Executive Board and Supervisory Board for the management and supervision conducted in the 2017 financial year.

Composition of Supervisory Board

After twelve years as a member of the Supervisory Board, ten of them as chairperson, Mr C.J. (Carel) van den Driest has stepped down from the Supervisory Board.

Mr N.W. (Niek) Hoek, a current member of the Supervisory Board, will take over the position of chairperson. Mr Hoek is a member of the Supervisory Board since 2016.

During the meeting, R. (Rob) Kretzers was also appointed as a new member of the Supervisory Board for a term of four years, said the company in its release.