Deme Gains After Half: year results
BUZZ-DEME gains after half-year results ** Shares in Belgian dredging and offshore contractor DEME DEME.BR rise 6.2% after the company published H1 results
** "Management sees healthy tendering activity and a substantial project pipeline, driving positive order book dynamics in coming months" Jefferies says
** The broker notes H1 turnover came 2% ahead of consensus at €2,157.9 million ($2.52 billion) , with growth of 6% in Offshore Energy and 2% in Dredging & Infra partly offset by an 8% decline in Environmental revenues
** Jefferies says order intake jumped 23% to €1,771.6 million even as the order backlog slipped 5% to €7,134.5 million, equivalent to 1.7x revenues
** DEME now guides FY26 turnover to increase slightly versus its previous guidance for a stable level, while maintaining its stable EBITDA margin outlook
** Jefferies says the updated guidance should trigger low-single-digit consensus upgrades
** Including today's rise the stock has gained 29.33% YTD - LSEG data
($1 = 0.8570 euros)
(Reporting by Ronan Corcoran)