DEME posts half year results 2024

General – DEME Group

DEME said earlier this week that they delivered a strong performance for the first half of 2024.

“Turnover grew 30% to more than 1.9 billion euro and profitability grew compared to the first half of last year, reflecting continued effective project execution across all contracting segments,” said Luc Vandenbulcke, CEO of DEME.

“With a strong conversion of backlog into revenues and an equivalent fill rate of new orders, DEME’s orderbook remained stable the last quarters.”

Also, the net profit for the Group was 141 million euro up from 30 million euro for the first half of 2023.

Vandenbulcke: “I’m delighted with the remarkable performance delivered by the entire DEME team in the first half of 2024. We sustained the momentum from the latter half of 2023 and achieved very solid results that reflect high activity levels and strong operational performance in all contracting segments and across all geographies where we operate.”

In line with the capital expenditure budgeted for the year; investments for the first half amounted to 167 million euro compared to 216 million euro a year ago.

Capital expenditure was mainly allocated to the expansion of DEME’s fleet capabilities, primarily in its Offshore Energy segment, and to capitalised maintenance investments.

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Original Source: https://ocean-energyresources.com/2024/08/30/deme-posts-half-year-results-2024/