DEME delivers strong results in 2023

DEME Group has released its 2023 Annual Report, showcasing a year of growth and strong performance across all the sectors.

Photo courtesy of DEME

According to the company, 2023 demonstrates that DEME is firmly on track. The year was defined by geographic expansion, new vessels, significant growth, and several wins. DEME delivered outstanding results, generating a 24% growth in turnover and a 26% increase in EBITDA.

All segments contributed to the turnover growth. In particular, Dredging & Infra contributed a solid 5% growth in turnover, reflecting a solid performance and high utilization starting in the second half of the year. The segment executed a range of projects globally, including maintenance and capital dredging activities.

With the turnover of 1.6 billion euro, the segment continued to perform under long-term maintenance dredging contracts in Europe including different seaports in Belgium. In Germany the segment added both maintenance and new capital dredging work, expanding its presence around the River Elbe between Hamburg and the North Sea.

The segment also completed the dredging works for a new container terminal in Gdansk in Poland, started dredging hard rock in the port of La Pallice in La Rochelle in France and continued the modernization works for the port of Ravenna in Italy.

Overseas, the segment finished the works on a container terminal in Sri Lanka and continued working on several projects in West Africa and maintenance dredging projects in India.

The segment also continued capital dredging and land reclamation works for the extension of the port of Abu Qirin Egypt and executed dredging and reclamation works in Abu Dhabi deploying multiple trailing suction hopper dredgers and mega cutter suction dredgers.

In Saudi Arabia, the preparatory activities for the Oxagon Phase 2 project were immediately initiated following the contract award in the last quarter of the year.

Read the 2023 Annual Report