Posted on March 2, 2026
Group turnover for 2025 was 4.2 billion euros compared to 4.1 billion euros a year ago. The Offshore Energy segment turnover rose 4% year-over-year, driven by a strong backlog, high fleet utilization, and the successful execution of projects across the US, Taiwan and Europe. The Dredging & Infra segment maintained turnover in line with the record level achieved in 2024, supported by a broad portfolio of maintenance and capital dredging works worldwide, along with major infrastructure projects in Europe. The Environmental segment recorded a 19% decline in turnover compared with the prior year, while continuing to advance its long-term projects mainly in Belgium and the Netherlands.
Order book at the end of the year stood at 7.6 billion euros, reflecting the addition of new, follow-on and maintenance contracts across all contracting segments and the integration of Havfram.
EBITDA rose 22% to 931 million euros, up from 764 million euros a year ago with the group EBITDA margin at 22.4%, a 380-basis point improvement over last year’s 18.6%. This is a testament to an outstanding and effective performance by the Offshore Energy segment which posted a 31% EBITDA margin, supported by a second-half rebound in Dredging & Infra, mitigating the adverse 3/25 DEME Group NV | Scheldedijk 30, 2070 Beveren-Kruibeke-Zwijndrecht – Belgium | www.deme-group.com first half impact of a marine infrastructure project resulting in a full year margin of 15%. Environmental reported a solid EBITDA margin of 15%, up from 13% a year ago.
EBIT grew from 354 million euros for 2024, or 8.6% of turnover, to 433 million euros for 2025, equivalent to 10.4% of turnover. The group’s net profit reached 346 million euros, rising from 288 million euros in 2024 and more than doubling from the 163 million euros reported two years ago.
Investments totaled 445 million euros. For 2025, this capital expenditure includes lifetime extensions, capitalized maintenance and repairs, as well as the payments related to the final construction phase for Norse Wind and Norse Energi after the Havfram-acquisition. Excluding these construction-related payments, investments amounted to 247 million euros.
Free cash flow1 for the year was -394 million euros. Excluding the Havfram acquisition, free cash flow was 342 million euros2 , compared to 729 million euros in the previous year, which was partly driven by favorable working capital effects.
