DEME Group broke turnover and order book records in 2022

Flanders-based marine contractor DEME, best known for dredging and building offshore wind farms, broke two records last year. According to the company's annual results, both its order book and turnover reached record highs in 2022.

DEME - which was independently listed in 2022 - saw its turnover increase by 6 per cent to 2.655 billion euros. All segments contributed to the revenue growth, including dredging, offshore energy and environmental activities.

Those sales resulted in earnings before interest, taxes, depreciation and amortisation (EBITDA) of 474 million euros, with a net total of 113 million euros. That is slightly less than in 2021, mainly due to negative foreign exchange results. The company proposes a gross dividend of 1.5 euros per share.

The order book sits at a record 6.19 billion euros, five per cent higher than the year before. DEME speaks of continued healthy demand, strong market positioning and sizeable new projects, especially in the construction of offshore wind farms. The contractor expects higher revenue in 2023 and a similar EBITDA margin.

_{#FlandersNewsService | The Deme headquarters in Zwijndrecht, Flanders. BELGA PHOTO DIRK WAEM}