DEME heading for a record turnover in 2024

DEME Group just reported Q3 results and announced a healthy orderbook of 7.1 billion euro.

Group turnover grew 32% in the first nine months of the year, reaching nearly 3 billion euro, up from 2.3 billion euro in the same period last year.

The Dredging & Infra segment also reported a strong turnover growth of 30% year-to-date, reflecting a sustained high activity level.

Dredging & Infra maintained robust activity across Italy, including modernization works in Ravenna and extension projects in Livorno and Naples.

In the UK, DEME completed maintenance work to secure the access channel to London Gateway Port along the River Thames. Additionally, Dredging & Infra continued maintenance work on several multi-year contracts, mainly in Belgium and Germany.

In the Netherlands, DEME Infra completed the RijnlandRoute and Blankenburg Connection, and celebrated the inauguration of the New Lock Terneuzen in October, representing three milestone marine infrastructure projects.

In Belgium, work progressed on the Oosterweel Connection project, including tunnel element construction, and on the Princess Elisabeth Island project with the construction of the caissons.

In France, civil works for the Port-La Nouvelle development moved into a new phase including the construction of a new jetty.

And in Denmark, tunnel element construction for the Fehmarnbelt tunnel project is advancing and the team is gearing up for the installation phase with the immersion pontoon that was delivered in September.

Overseas, Dredging & Infra maintained a high pace of activity in the Middle East as illustrated by the dry earth moving activities for the Oxagon Phase 2 project in Saudi Arabia and dredging works in Abu Dhabi. In Egypt, the segment continues the dredging works in Abu Qir 2.

In Asia Pacific, Dredging & Infra continued working on port maintenance projects in India, on dredging works in Malaysia and completed the land reclamation works in the Maldives. The team also started dredging works in the Port of Patimban in Indonesia to deepen the port’s access channel.

In Africa, preparatory work for the coastal protection in Grand Lahou, Ivory Coast, is progressing steadily, alongside ongoing maintenance dredging and land reclamation projects along the West African coast.

Highlights third quarter 2024

• Group turnover grew 32% in the first nine months of the year, reaching nearly 3 billion euro, up from 2.3 billion euro in the same period last year
• Orderbook remains at a healthy level at 7.1 billion euro
• Management further revised its guidance upward, now projecting year-over-year turnover growth to exceed 20%, with an EBITDA margin comparable to 2023

For the full results please click here.