DEME’s Offshore Energy division posted EBITDA of €358m in the first half of 2025, more than double the €164m earned in the same period last year.
The 118% increase was driven by a 27% revenue rise to €1.14bn, reflecting high vessel utilisation, effective project execution in the US, Taiwan and Europe, and favourable phasing.
Performance was boosted by follow-on installation phases in several projects and a one-off settlement fee for a cancelled US contract, according to the Belgian group.
In the US, the segment advanced Dominion Energy’s 2.6GW Coastal Virginia offshore wind scheme, installing substations, pin piles and cables, while continuing work at the 800MW Vineyard and resuming operations at the 810MW Empire Wind 1 after a federal stop-work order was lifted.
In Taiwan, DEME’s Green Jade completed pin pile installation at the 1GW Hai Long and began turbine and substation installation.
In Europe, the company installed 61 monopile foundations at the 496MW Île d’Yeu and Noirmoutier offshore wind farm in France, progressed at the 496MW Dieppe-Le Tréport, and continued cabling at UK projects including the 450MW Neart na Gaoithe and 3.6GW Dogger Bank.
The Offshore Energy order book rose to €4.1bn, including €530m from DEME’s acquisition of Norwegian contractor Havfram, which also added two next-generation turbine installation vessels scheduled for delivery in late 2025 and early 2026.
Group-wide, DEME reported EBITDA of €464m, up 35% year on year, on turnover of €2.1bn. Net profit increased 27% to €179m.
Chief executive Luc Vandenbulcke said: “I’m really pleased with our outstanding group results. Despite market instability, we delivered for the second consecutive semester more than €2bn in turnover and over €400m in EBITDA.
“At the same time, in acquiring Havfram, we took a significant strategic step to strengthen our leadership position in the offshore energy industry, underscoring our commitment to high calibre performance and to deliver consistent and robust results.”