DEME Reports Fourth Consecutive Half-Year With €2Bn Turnover

Belgian dredging, marine and offshore company DEME has reported strong first-half 2026 results, with turnover of 2.2 billion euros, up 2 percent year on year. The company posted EBITDA of 466 million euros at a 21.6 percent margin, alongside a record first-half net profit of 215 million euros, up 20 percent. With an order book of 7.1 billion euros providing healthy visibility, DEME has raised its full-year guidance and expects another exceptional year across its core activities.

 

Financial Performance

 

DEME delivered solid results in the first half. Turnover reached 2.2 billion euros for the period. This represented a 2 percent increase year on year. It compared with 2.1 billion euros a year earlier. This marked continued growth for the company.

Profitability figures were particularly strong. EBITDA amounted to 466 million euros. This represented a margin of 21.6 percent. Net profit rose 20 percent to 215 million euros. This compared with 179 million euros in the prior period.

 

A Consistent Track Record

 

The results extend a run of strong performance. DEME delivered over 2 billion euros in turnover. This was the fourth consecutive half-year at this level. It also posted well over 400 million euros in EBITDA. This consistency reflects sustained operational strength.

The net profit figure set a new benchmark. It represented a record for the first half. Company leadership highlighted this achievement. It came against evolving market conditions. This underscored the quality of the performance.

 

The Order Book

 

The company holds a substantial order book. It stands at 7.1 billion euros in total. This provides healthy visibility for future activity. It underpins confidence in the coming period. This backlog supports the company's outlook.

The order book reflects strong demand. Management expects healthy tendering activity ahead. A substantial project pipeline supports this. This should translate into positive order book dynamics. This momentum is expected in the coming months.

 

Read More: NKT Qualifies 525 kV HVDC Subsea Cable System for 90°C Operation

 

Divisional Performance

 

Both main divisions performed well. Offshore energy revenues increased by 6 percent. This was driven by successful project execution. Projects across the US, Taiwan and Europe contributed. This reflected the division's international reach.

The dredging division also grew. It delivered year-on-year growth of 2 percent. A diversified portfolio supported this performance. This included maintenance and capital dredging activity. Major European infrastructure projects also contributed.

 

Raised Guidance and Outlook

 

The strong performance prompted an upgrade. The company raised its full-year guidance. It expects another exceptional year overall. It anticipates 2026 turnover slightly exceeding 2025 levels. The EBITDA margin should stay in line with 2025.

Management expressed confidence in the outlook. It cited high-quality first-half performance. Visibility for the remainder of the year supported this. Supportive market fundamentals underpin the confidence. These span the company's core activities.

 

Market Conditions and Long-Term View

 

The company acknowledged some near-term challenges. Geopolitical developments could affect project timing. Auction delays may influence offshore renewable installations. However, DEME views this as a temporary phase. It sees evidence of the sector's next growth phase.

The company remains confident in its prospects. Its dredging and infrastructure activities provide resilience. A solid order book supports this confidence. A strong balance sheet reinforces it further. For 2027, it expects strong profitability despite a somewhat lower top line.