Posted on November 27, 2023
On a year-to-date basis, group turnover grew 16%, led by Offshore Energy and Environmental
Management reaffirms guidance for the year of higher revenues than 2022 and EBITDA margin comparable to 2022
Orderbook remains high, reflecting healthy demand, strong market positioning, and sizeable wins in both Offshore Energy and Dredging & Infra, boding well for the mid-term prospects of DEME
The Offshore Energy segment continued its trajectory of converting its strong orderbook of projects around the world into solid revenue growth, achieving a 31% increase year-to-date.
In the United States, execution of the Vineyard project, the first commercial offshore wind farm in the US, advanced while at the same time discussions on pending claims and variation orders continued. ‘Orion’ has continued installing monopiles for the project, while ‘Sea Installer’ successfully installed the first turbines, supported by US flagged feeder barges transporting the turbine components. Furthermore, ‘Living Stone’ has completed the cabling works for the South Fork wind farm. In preparation of the Coastal Virginia project, scheduled to start in 2024, the segment successfully completed the load-out and the transport of the initial batch of monopiles.
Over in Taiwan, progress on the Zhong Neng project has been substantial with the pin piling-scope delivered in full. The recently commissioned ‘Green Jade’ installation vessel commenced its operations in July, installing the jackets for the Zhong Neng project. Complete delivery of the Zhong Neng project, is expected in the first quarter of 2024 after which ‘Green Jade’ will commence with the Hai Long project.
In France, building upon the success of the Saint-Nazaire deployment, ‘Innovation’ is working on the Fécamp wind farm project installing the wind turbines. The Île d’Yeu and Noirmoutier projects are in the final stages of preparation, set to commence in the first quarter of 2024 with the drilling of monopoles.
In the United Kingdom, both ‘Viking Neptun’ as well as ‘Living Stone’ are engaged in installing the inter-array cables for the Dogger Bank and Neart Na Gaoithe projects. In addition, preparatory work began on the installation of monopiles and transition pieces for the Moray West project in 2024. In the non-renewables sector, work on the Hinkley Point nuclear power plant project has now reached the halfway point in drilling the shafts for all intake and outfall structures.
