Corrected: Belgium's DEME H1 net profit rises 20%
CORRECTED-Belgium's DEME H1 net profit rises 20% Removes inattributable references to Adjusted EBITDA and Gross Margin from table; Also removes duplicate entry from table on orders
Overview
Belgium marine engineering group's H1 revenue rose 2% yr/yr to EUR 2.2 bln
Net profit for H1 rose 20% yr/yr to EUR 215 mln
Order book at EUR 7.1 bln, supporting future activity
Outlook
Management expects 2026 turnover to slightly exceed 2025 level
Company sees 2026 EBITDA margin staying in line with 2025
Order book at EUR 7.1 bln provides healthy visibility for future activity
Result Drivers
ORDER BOOK - DEME said its EUR 7.1 bln order backlog provides healthy visibility for future activity
FLEET EXPANSION - DEME said strategic fleet expansion is on track, with new vessels Norse Wind and Norse Energi starting operations in H1 2026 and a new dredger ordered
Company press release: ID:nGNEbkxp8M
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income |
| EUR 215 mln |
|
H1 EBIT |
| EUR 231 mln |
|
H1 EBITDA |
| EUR 466 mln |
|
H1 EBITDA Margin |
| 21.60% |
|
H1 Net Debt |
| EUR 291 mln |
|
H1 Order Book |
| EUR 7.10 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for DEME Group NV is €220.00, about 29.3% above its August 25 closing price of €170.20
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 15 three months ago
Reuters Recommended Reads
Aug 25 - Denmark's Cadeler H1 revenue more than doubles on fleet growth
Aug 25 - Norway's Klaveness combination carriers Q2 EBITDA rises on stronger markets
Aug 25 - China Oilfield Services H1 revenue, net income rise, helped by North Sea drilling strength
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)