Turnover increased at DEME’s offshore energy division increased 11% year-to-date, according to the contractor’s third-quarter trading update.
The company said the growth to almost €1.7bn reflected sustained vessel utilisation and activity across its global portfolio.
Management reiterated that full-year turnover will be at least in line with 2024 and forecast a strong improvement in EBITDA, with the margin expected to land between 20% and 22%.
The offshore energy order book rose to €4.2bn from €3.8bn a year earlier, supported by follow-on work and new awards including Formosa 4 in Taiwan and Nordseecluster B in Germany.
DEME also took delivery of the new offshore installation vessel Norse Wind in October, which is scheduled to start operations in the first half of 2026 on European wind projects. Its sister vessel Norse Energi is due early next year.
In the US, DEME completed installation of all 176 monopiles ahead of schedule at Dominion Energy’s Coastal Virginia Offshore Wind project and is now installing transition pieces. The contractor has finished monopile and transition piece installation at Vineyard Wind and is preparing cable works for Empire Wind 1.
In Europe, the company wrapped up monopile and transition piece installation at Île d’Yeu and Noirmoutier and started jacket work at Dieppe-Le Tréport. It progressed inter-array cabling at Baltic Power in Poland and continued cabling on Dogger Bank C in the UK. Preparations are underway for IJmuiden Ver Alpha, Nederwiek 1 and Oranjewind in the Netherlands.
In Taiwan, DEME’s Green Jade vessel finished all jacket foundation installations for Hai Long and is continuing with turbine installation. Work also advanced on Greater Changhua and preparations are underway for the Fengmiao project.