DEME releases 3Q2022 Trading Update

DEME Group announced its 3Q2022 Trading Update today.

The orderbook remains high reflecting healthy demand, strong market positioning and sizeable wins for both Offshore Energy and Dredging & Infra.

On a year-to-date basis, Group turnover grew 14%, led by Offshore Energy and Environmental and slightly offset by softer growth for Dredging & Infra.

According to DEME, Dredging & Infra reported a turnover of 1,097 million euro year-to-date, 3% higher than a year ago.

Turnover was affected by a high number of dockings in combination with redeployments of vessels due to the Russia-Ukraine conflict to new projects in Europe, Africa and Asia.

Large ongoing projects in Infra include the first phase of the Fehmarnbelt Fixed Link project (Denmark), the start-up phase of Port-la-Nouvelle (France), as well as the Blankenburg project in the Netherlands.

Noteworthy orderbook additions in the third quarter include the new container terminal port of Gdansk (Poland) and land reclamation works at the container terminal in Sri Lanka.