DEME today announced that the company delivered strong performance in the first half of 2024.

“Revenue increased by 30% to over EUR 1.9 billion and profitability increased compared to the first half of the previous year, reflecting continued effective project execution across all contract segments.”, the company said.

“Thanks to a strong conversion of backlog into sales and a corresponding order fulfillment rate, DEME’s backlog has remained stable in recent quarters.”

In addition, the Group’s net profit amounted to EUR 141 million (up from EUR 30 million in the first half of 2023).

“I am delighted with the remarkable performance of the entire DEME team in the first half of 2024. We have maintained the momentum from the second half of 2023 and delivered very solid results reflecting high levels of activity and strong operational performance across all contract segments and in all regions in which we operate.,” said Luc VandenbulckeCEO of DEME.

In line with the investments planned for the year, investments in the first half of the year amounted to
167 million euros compared to 216 million euros in the previous year.

Capital expenditure was mainly used to expand DEME’s fleet capacity, particularly in the offshore energy segment, and for capitalized maintenance investments.

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