Posted on March 31, 2026
The Damen Shipyards Group (Damen) looks back on a successful 2025, in which the company achieved strong results. Thanks in part to the delivery of no fewer than 160 vessels, Damen’s revenue and profit once again increased. The order book for 2026 and subsequent years amounts to just over 10 billion euros, approximately the same high level as it was a year previously.
Despite international instability, Damen has managed to strengthen its market position. In 2025, the company’s revenue increased from 3.02 billion to 3.25 billion euros. EBITDA rose by approximately 10%, from 169 million to 185 million euros, while net profit amounted to 61.1 million euros (2024: 58.3 million euros).
“In 2025, we once again demonstrated that we, as Damen, together with our customers, partners, and suppliers, can perform consistently in a very dynamic world,” explains CEO Arnout Damen. “We have once again improved our financial results, while simultaneously investing in digitalisation, sustainability, and the further development of our company. In doing so, we strengthen the Dutch and European maritime manufacturing industry and continue building on our ambition to be the most innovative and sustainable shipbuilder.”
Unfortunately, 2025 did not yet see the end of the war in Ukraine. Damen continues to support its Ukrainian colleagues, including through the Foundation Damen Support.
From naval vessel Den Helder to cruise ship Disney Dream
In 2025, for the first time since 2019, Damen delivered more than 150 ships. In total, the company made 160 deliveries, some fourteen more than in 2024. More than half of these were tugs. Additionally, deliveries included nineteen Fast Crew Suppliers (FCS), thirteen Combi Freighters (CF) and nine dredgers.
Highlights of the year included the naming of the Combat Support Ship (CSS) HNLMS Den Helder for the Royal Netherlands Navy, by Her Royal Highness Princess Amalia of the Netherlands. Other notable achievements included the launching of the seventh, eighth, and ninth Island Class ferries for Canada’s BC Ferries – which are capable of operating fully electrically – and the delivery of Germany’s first fully electric ferry, the E-Kat (electric catamaran) Frisia E-1.
The number of projects taking place at the yards of Damen Shiprepair also increased, going from 1,200 to 1,235. These projects included the refits of the Disney Dream and Disney Fantasy cruise ships, and the delivery of the heavy-lift jack-up platform Obana. In this project, two floating jack-up platforms were combined into one large platform specifically designed to decommission drilling platforms in the North Sea.
2025: a year with many milestones and highlights
In addition to strong operational and financial performance, 2025 saw numerous positive developments within the group. For example, the celebration of the 150th anniversary of the Royal Schelde – now Damen Naval – in Vlissingen. Damen launched the Ship-Air-Go project – co-funded by the Dutch Maritime Innovation Program – based on the Damen Air Cavity System (DACS), an underwater air lubrication system, and commissioned a new 13,000m2 distribution centre in Schelluinen, the Netherlands.
Furthermore, Damen acquired and integrated the Southampton-based IME Group, and took over the Norwegian shipyard Folla to strengthen its position in sustainable aquaculture solutions. In addition, Damen teamed up with Fugro to supply the Royal Netherlands Navy with an FCS 5009 patrol vessel and crew.
Order book: great new orders from around the world
In 2025, Damen signed a number of contracts for the coming years, including for the delivery of 24 tugs and workboats to support the British Royal Navy. Other contracts include the replacement of port infrastructure in the Falkland Islands, the 100th Damen Tug for Wilson Sons in Brazil (followed by an order for another twelve tugs), and licensing agreements with Australia and the United States for the delivery of numerous Landing Ship Transport 100 vessels. These vessels are suited to a diverse range of operations. With their ability to transport personnel, vehicles, equipment, and cargo, they can be used for patrol, landing, survey, and reconnaissance operations, as well as for the delivery of humanitarian aid and disaster relief.
Legal proceedings
In 2025, legal proceedings were initiated in connection with suspected cases of, primarily, forgery related to several shipbuilding projects from the period 2006–2016. In addition, a separate case concerns an alleged violation of sanctions legislation relating to the shipment of parts for fishing vessels. The organisation recognises that the media attention surrounding these legal proceedings has a significant impact on the company, on employees personally, and on the way Damen is perceived externally. At the same time, this perception does not reflect the many good and innovative efforts carried out worldwide every day. In recent years, Damen, like many other Dutch companies, has undertaken profound internal reforms. Its compliance and governance structures have been fundamentally strengthened, and the company now has one of the most advanced compliance organisations in the international shipbuilding industry.
Outlook: confidence and optimism
Despite market challenges, the results for 2025 are better than those of 2024. Nevertheless, in the coming years, Damen will continue to focus on the further improvement of efficiency, risk management, and cost savings, aiming for acceptable and stable profitability, creating room for targeted investments in innovation and sustainability.
Arnout Damen says, “I am proud that, together, we have once again succeeded in improving our results. We are not there yet, but 2026 promises great things. Our order book is at the same high level as last year, so we look to the future with confidence and optimism. Under the motto ‘One Team, One Damen’, we continue to build a future-proof, innovative, and sustainable company.”
