DEME posts Trading Update for Q1 2025

DEME Group has just announced its Trading Update for Q1 2025, reporting a steady first quarter performance.

Highlights first quarter 2025

• Solid start of the year with group turnover at 993 million euros, up 10% compared to 900 million euros a year ago,

• Orderbook remains at a healthy level at 7.6 billion euros, compared to 7.5 billion euros a year ago, excluding orderbook Havfram,

• Management reaffirms guidance for the year for turnover and EBITDA margin at least in line with last year,

• Subsequent to quarter end, DEME has acquired Havfram, a Norwegian offshore wind contractor, supporting DEME’s ambition to expand its footprint in the offshore wind energy market and bolster its competitive edge in turbine and foundation installations.

Dredging & Infra reported revenue of 429 million euros compared to 467 million euros for the first quarter of 2024, with the year-on-year decrease reflecting both the strong 1Q24 comparison base and a different phasing of projects.

According to DEME, 2025 will be another milestone year for the Infra-activities of the Dredging & Infra segment.

For the Princess Elisabeth Island project, the team made good progress, advancing the construction of the caissons during the first quarter and positioning the first caissons at their final location at sea in April.

For another flagship project, the Oosterweel Connection project, construction of the tunnel elements was completed in the first quarter. The elements are ready for their towage to the Antwerp project site in the coming months.

In Denmark, progress was made at the Fehmarnbelt Tunnel project, with the first tunnel elements successfully floated up and transferred to a waiting basin.

In France, civil works for the Port-La Nouvelle project continued, including the construction of quay walls and jetties.

In Europe, the dredging team continued maintenance works on several multi-year contracts.

In Germany, following the successful completion of the widening works on the Kiel Canal, the team began preparatory works for the construction of the offshore terminal at the port of Cuxhaven.

In Italy, good progress was made on modernization works in Ravenna as well as other ongoing projects.

In France, the ‘La Chatière’ project in Le Havre, connecting the port with the Seine River, was officially launched with the laying of the first stone.

Also in the UK, the dredging and reclamation works for the Ardersier Energy Transition Facility were kicked off.

Overseas, Dredging & Infra maintained a good activity-level in the Middle East, continuing dredging works in Egypt on the Abu Qir 2 project and in Saudi Arabia, the dry earth moving activities for the Oxagon Phase 2 project continued in preparation of cutter suction dredging works later this year.

In Africa, maintenance dredging and land reclamation projects along the West African coast were executed, including projects in Nigeria, Gabon and Ivory Coast.

In India, Dredging & Infra continued working on port maintenance projects and signed a letter of award for dredging and reclamation works in Vadhavan Port, which is located on India’s west coast near Mumbai.

The team also continued dredging works in the port of Taichung in Taiwan.

In addition, seabed preparation in support of nearshore and offshore energy projects were performed in Taiwan and Canada.