DEME 1Q23 Trading Update available

DEME has just announced topline metrics for the first quarter ended 31 March 2023 – orderbook reached 7.1 billion euro and the total turnover, led by Offshore Energy, increased 9%.

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The turnover of the Dredging & Infra segment reflects lower activity levels compared to a strong first quarter last year.

The segment worked on maintenance contracts across Europe, including Belgium and Germany as well as Asia, Africa and South America.

New terminal works are ongoing in Gdansk (Poland), Stade (Germany) and Colombo (Sri Lanka) and port expansion works in Italy, next to capital dredging works in Mexico and the Middle East.

Also, the segment continued to work on large infra flagship projects in Europe including the first phase of the Fehmarnbelt Fixed Link project (Denmark), the start-up of Port-La Nouvelle (France), the Blankenburg project and the New Lock Terneuzen in the Netherlands and the Oosterweel Connexion project in Belgium.

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In the first quarter, DEME won, as part of a consortium, a project to design and construct the Princess Elisabeth island.

The Princess Elisabeth island is the world’s first artificial energy island and will be built 45km off the Belgian coast. It will become the first offshore energy hub and a crucial link in Europe’s future energy grid in the North Sea.

Main construction will start in 2024 and continue through 2026.

The pipeline remains strong with major opportunities in Europe, the Middle East and Africa, said DEME.