Aug 22 (Reuters) - Boskalis reported on Thursdayan 18.8% drop in its six-month core earnings at 135.7 millioneuros ($150.37 million), lower-than-expected, as the Dutchmarine engineer lost clients in the absence of any wind farmsubsidies.
"Under pressure from the disappearance of subsidies on windfarms, clients are keenly looking for ways to reduce costs. Thishas resulted in a considerably more tense situation in theexecution of projects and an accumulation of disputes onprojects and lengthy claim procedures," Chief Executive PeterBerdowski said in a statement.
According to a company-provided poll, analysts expected theearnings before interest, tax, depreciation and amortization(EBITDA) to come in at 166 million euros.
The company maintained its full-year outlook for EBITDA andcapital expenditure, adding that it expects a sharp rise in netprofit in the second half of the year from 1.3 million eurosposted in the first half.
($1 = 0.9024 euros)
(Reporting by Michal Aleksandrowicz in Gdynia, Editing bySherry Jacob-Phillips)