Warranty commitments

The warranty commitments not included in the balance sheet amount to EUR 1,211 million (EUR 1,084 million) at year-end 2025. The vast majority of the commitments relates to performance bonds issued to clients, which is common practice in contracting.

Obligations pursuant to claims, procedures and investigations

Van Oord is involved in, or may in the future be involved in, claims, procedures and (criminal) investigations, including regulatory, fiscal and other governmental, with possible financial and/or other consequences in the context of its business operations.

Events of non-compliance may result in regulatory or fiscal (criminal) investigations, litigations and/or sanctions. Although extensive efforts are made to act in compliance with all relevant (local and international) legislation and regulations, notwithstanding all risk mitigating measures, a complete elimination of compliance risk cannot be guaranteed. Any violation of any relevant legislation, including anti-bribery and corruption legislation or anti-money laundering legislation could be material on our operational performance and cash flow in an individual accounting period.

Rental and lease commitments

Total commitments under long-term rental and lease contracts amount to EUR 33.5 million (EUR 28.5 million). An amount of EUR 12.7 million (EUR 12.0 million) will be paid in 2026.

Total operational lease commitments amount to EUR 24.4 million (EUR 21.9 million), of which EUR 8.9 million (EUR 8.5 million) will be paid in 2026. Commitments with a term longer than 5 years amount to nil (nil).

Capital commitments

Commitments relating to investments in tangible fixed assets amount to EUR 487 million (EUR 211 million) at the balance sheet date. An amount of EUR 127 million will be paid in 2026. There are no commitments with a term longer than 5 years.

Agency fees

Van Oord has its own management teams in place in many parts of the world, but also works with agents to win and/or execute contracts. This can lead to an increased risk of non-compliance with laws and regulations.

Agents usually receive a (fixed) percentage of the contract value for their work, sometimes in the form of a success fee. We try to mitigate the risks associated with working with agents through our Agent Policy. Stringent procedures relating to new and existing agents are in place and we engage the services of external professionals to support us.

Although our stringent policy and procedures did not reveal any concrete indications of possible irregularities, the risk of non-compliance with the applicable laws and regulations can never be completely excluded. Please refer to the chapter Governance (Risk management and Compliance) for a more detailed explanation of our approach to and management of compliance risks.