ING cuts DEME on 'production gap' risk in offshore wind

DEME NV

10/04/2026 09:41

** ING downgrades Belgian marine contractor DEME Group DEME.BR to "hold" from "buy", anticipating negative earnings momentum in 2027 and 2028

** The brokerage expects lower utilisation rates for the existing offshore wind fleet starting in late 2027 due to weak order intakes

** ING notes that delayed investment decisions create a "potential production gap in 2028 for the offshore wind industry"

** It cuts its PT by 6.5% to 182.25 euros, citing a drop in the order book for two years ahead

** ING doubts European and Asian markets can compensate for the declining revenue backlog in the Americas

** Out of seven analysts that cover the company, five rate it "strong buy" or "buy,"​ and two "hold" - LSEG data

($1 = 0.8559 euros)

(Reporting by Jerome Terroy)

((jerome.terroy@thomsonreuters.com))