

DEME Delivers “Outstanding Results” for 2023
Yesterday DEME announced their full year results for 2023. The year was defined by geographic expansion, new vessels joining the fleet, significant growth, and several sizeable wins.
- They delivered outstanding results, generating a 24% growth in turnover.
- Driven by strong demand across all segments, their orderbook increased 22% to 7.6 billion euro.
- EBITDA increased 26% year-over-year, reaching 596 million euro.
These achievements wouldn’t have been possible without our remarkable ‘One DEME team’!
Luc Vandenbulcke, CEO DEME Group, said, “On the strength of these outstanding results, we enter 2024 confident in our ability to capture the growth opportunities ahead. DEME is strategically well positioned to continue playing a pivotal role in facilitating the transition to clean energy, addressing environmental challenges and ensuring the reliability and open access of maritime trade. We are well equipped to navigate a dynamic market landscape and deliver on our sustained profitable growth ambition supported by our expanded and enhanced fleet capabilities, and our dedicated and highly skilled team.”

Photograph courtesy of EDF
Given the robust demand trends and a strong orderbook, DEME’s management remains confident about the company’s growth prospects and expects turnover to continue to grow in the coming years with an annual EBITDA margin in a 16 to 20% range each year.
For 2024, taking into account present geopolitical and market conditions, current orderbook and fleet capacity, management expects a turnover growth of at least 10% compared to 2023 with an EBITDA margin comparable to 2023. Capital expenditure for 2024 is anticipated to be between 300 and 350 million euro for the year, including fleet, upgrade, repair and maintenance investments. The company also expects to further reduce the net financial debt level in 2024.
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