Belgian marine contractor DEME Group reported a two per cent year-on-year increase in first-quarter revenue to €1.016 billion ($1.19 billion), driven by strong performance in its dredging and infrastructure division. This was accompanied by a stable overall order book of €7.4 billion compared to €7.6 billion at the end of 2025, according to a company trading update.
Dredging and infrastructure revenue rose nine per cent to €466 million, while offshore energy revenue remained stable at €527 million. In contrast, project phasing caused a decline in environmental segment revenue to €63.8 million.
The company's new offshore transport and installation vessel Norse Wind started its first European assignment during the quarter. A sister vessel, Norse Energi, has also been delivered and is scheduled to begin operations in the summer of 2026.
Operational milestones during the quarter included finishing all foundation and substation installations for the Coastal Virginia offshore wind project in the US. Following these works, DEME Group transferred its transport and installation vessels, Orion and Sea Installer, to Europe to start new projects.
Further contract wins included a 25-year marine concession contract for the Paranaguá port access channel in Brazil. In addition, the company finalised the sale of its stake in the Blankenburg Tunnel project to BB-GI during the same period.
Looking ahead, the company reaffirmed its full-year guidance for 2026, stating that revenue and margins are expected to be in line with 2025. Capital expenditure remains projected at around €450 million, including fleet upgrade investments and the completion payment for Norse Energi.