DEME reported record full-year 2025 results that surpassed analyst expectations, with the dredging and offshore energy specialist posting adjusted EBITDA of €931 million, beating consensus by 6%. Revenue reached €4.2 billion, up 1% from the previous year, while net profit jumped 20% to €346 million as the company expanded margins to 22.4%.

The strong performance stemmed from 4% growth in the Offshore Energy segment, supported by high fleet utilization across the United States, Taiwan, and Europe. This offset declines in the Dredging & Infra and Environmental segments. DEME's €7.6 billion order book represents 1.8 times annual revenue, providing visibility for future projects.

For fiscal 2026, DEME forecasts maintaining 2025 revenue and EBITDA levels, which implies earnings about 10% above current analyst estimates. The company proposed a €4.5 per share dividend, up from €3.8 in 2024, while newly acquired vessels Norse Wind and Norse Energi begin project work this year, positioning DEME for continued operational strength.