DEME rises as trading update provides 'reassuring messages' on offshore segment

DEME NV

22/11/2023 08:16

** Shares in Belgian engineering firm DEME  DEME.BR  up 6.6%
after the company posted a year-on-year increase in turnover and
confirmed its full-year outlook
    ** DEME's turnover was up at 2.28 billion euros ($2.49
billion) at the end of September against 1.97 billion euros a
year prior
    ** "Based on the year-to-date results, DEME remains on track
to achieve its outlook for the full year," a KBC note says,
pointing to "reassuring messages coming from the
Offshore-Energy-segment"
    ** "The offshore wind projects are progressing well, despite
rebalancing elsewhere in the industry," a Jefferies analyst also
notes
    ** Up to the previous session's close, shares were had lost
over 20% since the start of the year


($1 = 0.9168 euros)

 (Reporting by Victor Goury-Laffont)
 ((Victor.goury-laffont@tr.com))