General – Finance
DEME reported a robust start to 2025, with first-quarter revenue rising 10% year-on-year to €993 million.
The growth was primarily driven by the Offshore Energy division, which saw a 36% increase in revenue to €531.8 million. The company’s order book remained strong at €7.6 billion, excluding the recently completed acquisition of Norwegian offshore wind specialist Havfram.
This strategic deal, the largest in DEME’s history, adds approximately €600 million in additional orders, to be included from the second quarter onwards.
Despite President Donald Trump’s renewed skepticism towards offshore wind — including an executive order halting new federal leases and permits pending environmental and economic reviews — DEME maintained momentum in key US projects such as Vineyard and Coastal Virginia. The company continues to install turbines, substations, and cables, countering concerns about an unfavourable US regulatory environment.
Other divisions, including Dredging & Infra (-8%) and Environmental Solutions (-18%), recorded lower figures due to project phasing and a high comparison base from Q1 2024.
DEME confirms its 2025 outlook, expecting revenue and gross margin at least in line with 2024. Planned investments remain around €300 million, excluding the cost of the Havfram acquisition and the delivery of two new installation vessels.
