The Lisa A platform tilted when two of its legs punched through the sea bed in September 2007, resulting in damage to the barge and project delays.

However, heavy lift sales revenue was up 7% to EUR 88m in an “exceptionally high volume of work”, CEO Ben Vree said.

Floating sheerlegs have been used in major projects in South America and the Gulf of Mexico resulting in a high utilisation, partly caused by the deployment of equipment for a number of salvage projects. The Asian Lift joint venture in Singapore was also busy.

The company’s total revenue for the year was EUR 583m.