DEME has published its financial results for the first half of 2026.
The group recorded its strongest H1 performance in 2026. Group turnover totalled €2.2 billion (US$2.6 billion), an increase of two per cent from €2.1 billion (US$2.4 billion) in the same period last year.
Gross operating profit peaked at €466 million (US$540 million), representing a margin of 21.6 per cent.
Net profit increased by 20 per cent to €215 million (US$249 million) from €179 million (US$207 million) in H1 2025.
DEME said its orderbook stood at €7.1 billion (US$8.2 billion), providing healthy visibility for future activity. The company's management now expects 2026 turnover to slightly exceed the 2025 level and the gross operating profit margin to stay in line with that of 2025.
The group's strategic fleet expansion remains on track with the new jackup transport and installation vessels Norse Wind and Norse Energi starting operations in H1 2026.
DEME also ordered a new large trailing suction hopper dredger to further strengthen its dredging fleet.
"Against a backdrop of evolving market conditions, we delivered for the fourth consecutive half-year period more than €2 billion (US$2.3 billion) in turnover and well over €400 million (US$460 million) in [gross operating profit] while achieving a record net profit of €215 million for the first half of 2026," said Luc Vandenbulcke, CEO of DEME.
"This performance demonstrates the strength of our execution, the dedication of our teams, and the resilience of our diversified business portfolio.
"Given our high quality first-half performance and the visibility we have for the remainder of the year, we expect another exceptional year and are raising our guidance.
"Looking ahead, we continue to see supportive market fundamentals across our core activities and expect healthy tendering activity and a substantial project pipeline to translate into positive order book dynamics in the coming months."
Vandenbulcke added that while geopolitical developments and auction delays over the last few years may influence the pace of offshore renewable project installations in the near term, DEME views this as a temporary phase, and the company is encouraged by the growing evidence of the sector’s next growth phase.
DEME's offshore energy revenues increased by six per cent to a record semester level of €1.2 billion (US$1.4 billion), driven by what it said are the continued successful execution of projects across the US, Taiwan and Europe.
The dredging and infrastructure segment meanwhile delivered a year-over-year growth of two per cent, supported by a diversified portfolio of maintenance and capital dredging activities worldwide, alongside major infrastructure projects in Europe.
Environmental revenues were eight per cent lower compared to the prior year, while the segment continued to advance its long-term projects, primarily in Belgium and the Netherlands.
The offshore energy segment maintained strong profitability with a gross operating profit margin of 26.7 per cent, while the dredging and infrastructure segment delivered a gross operating profit margin of 22 per cent, marking a significant improvement compared to the softer first half of 2025.
Operating income amounted to €231 million (US$268 million), up three per cent compared to the first half of 2025, and equivalent to an operating income margin of 10.7 per cent.
