At a glance
Another strong year for Boels, positive outlook for 2024
Boels evolved into single source equipment provider for any project
Boels remains a resilient company with more focus on ESG & CSRD
€550.5 mio normalised EBITDA
€1,552.7 mio revenue
18 countries
7,300+ employees
Shared value is at the heart of business
2023 was another strong year for Boels. With our local presence, customers are ensured of equipment availability, efficient logistics, and continuous support to keep their operations up and running. We deliver extra added value with our specialised business units that provide in-depth expertise, services and products for specialised purposes. At the same time, we aim to digitalise the rental industry by developing digital services to make the rental process easier and more efficient for our customers. Overall, our value-added strategy is paying off, both for our customers and for Boels.
“Overall, our value-added strategy is paying off, both for our customers and for Boels’’
Resilient business model
Boels is able to add value for customers by keeping their business operations up and running. Sharing equipment resources with our customers is part of our vision. We always put customers first because we are committed to supporting them in completing their projects or jobs successfully, no matter what. Our shared value proposition is supported strongly by our resilient business model, in which we combine the flowing strategic elements: shared equipment resources, customer-centric digital services, and HR (our people business).
Financial position
Boels has a solid financial structure. Our professional and committed finance organisation are distinguishing factors here. To finance further growth, a € 400 million bond was issued successfully. We also concluded a € 100 million loan agreement with the European Investment Bank (EIB). These new multi-year financing facilities further diversify the maturity profile of our debt and strengthen our financial robustness. We continue to be financially strong and able to finance further growth.
ESG & CSRD
Boels is focused on being a climate and resource efficient rental company that mitigates its environmental impacts throughout its value chain. We have strengthened our ESG approach and upgraded our targets and performance and are on track in adopting the Corporate Sustainability Reporting Directive (CSRD). We safeguarded our EcoVadis Platinum status for Sweden and obtained EcoVadis Bronze status in the Netherlands. We reduced our CO2 emissions by 3.0% and our energy consumption by 8.5% (both scope 1 and 2, relative to revenue). The share of renewable electricity rose to 58% (2022: 56%).
“Due to our ability to adapt to changing market conditions and driven by our people and significant capex investments, we have continued to grow our business.”
