DEME announces third quarter results

DEME Group announced the third quarter results today. On a year-to-date basis, group turnover grew 16%, led by Offshore Energy and Environmental.

“Our orderbook remains high reflecting healthy demand, strong market positioning and sizeable wins in both Offshore Energy and Dredging & Infra,” said the company.

Based on the year-to-date results, DEME remains on track to achieve its outlook for the full year, which calls for a higher turnover than in 2022 and EBITDA margin comparable to 2022.

Also, the Dredging & Infra segment grew its turnover by 4% compared to the previous year.

After a slower start to the year, activity levels have been picking up and the gap with last year’s revenue-level has been closed.