DEME reported a record turnover of €4.2 billion ($4.4 billion) for the full year of 2025. The Belgian dredging and offshore energy company stated its net profit reached €346 million, representing a 20 per cent increase compared to the previous year.
The offshore energy segment saw revenue rise four per cent year-over-year following high fleet utilisation and project execution in the United States, Taiwan, and Europe. The group noted that its dredging and infra segment maintained turnover at levels similar to the record achieved in 2024.
EBITDA grew 22 per cent to €931 million, which the group reported was equivalent to 22.4 per cent of turnover. Chief Executive Officer Luc Vandenbulcke remarked that this profit metric nearly doubled between 2022 and 2025 as turnover rose from €2.7 billion to more than €4 billion.
The group ended the year with an order book valued at €7.6 billion. DEME indicated that this total includes the integration of Havfram and new contracts across various contracting segments.
Following the acquisition of Havfram, the group took delivery of two offshore installation vessels named Norse Wind and Norse Energi. It outlined that work on projects involving these vessels is scheduled to begin in 2026.
The board of directors proposed a gross dividend of €4.5 per share for the year. This represents an 18 per cent increase from the €3.8 dividend paid for 2024.
Management expects turnover and profit margins for 2026 to be in line with the levels recorded in 2025. It added that capital expenditure for the coming year is estimated at approximately €450 million, including fleet maintenance and payments for Norse Energi.
The Belgian Court of Appeal in Ghent acquitted the company on February 24 in legal proceedings related to a 2014 dredging contract in Russia. This matter had previously been listed as a contingent liability in the company’s annual reports.