DEME Releases Half Year Results

This morning DEME has released their 1H23 Half Year results.

• Orderbook expands to € 7.7 bn, up 36% compared to H1 2022, reflecting continued healthy demand and strong market positioning across all segments
• Group turnover increased 14% year-over-year to 1.5 billion euro, with growth in the Offshore Energy and Environmental segments
• EBITDA amounted to 222 million euro, or 15.0% of sales, up from 191 million euro or 14.8% in the first half of 2022
• Net profit was 30 million euro, down from 39 million euro a year ago, primarily due to negative exchange rate results
• Capital expenditure amounted to 216 million euro, compared to 226 million euro for the first half in 2022, reflecting continued investments in DEME’s fleet

DEME’s CEO, Luc Vandenbulcke, says, “During the first half of 2023, while we continued our fight against climate change, we once again demonstrated strong and consistent performance including sizeable additions to our orderbook, geographical expansions in the US and Asia, further investment in our fleet, and the continuation of several long-term growth initiatives.

With important projects in start-up phase in the first half of the year, we delivered results consistent with our goal of ensuring a sustainable profitable long-term future for DEME. On the basis of the growth of our orderbook and turnover for the first semester, combined with an adequate level of profitability, we are reaffirming our guidance for the full year.”

The full report can be found on this link.

Featured Title photograph

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