DEME Another record year is taking shape

DEME is a world leader in the specialised fields of dredging, marine infrastructure, solutions for the offshore energy market, and environmental works. DEME can build on nearly 150 years of know-how and experience and has fostered a pioneering approach throughout its history, being a front runner in innovation and new technologies.


A major milestone in 2025 was DEME's acquisition of Havfram, an international offshore wind contractor based in Norway with around 50 employees. The deal carried an aggregated transaction value of approximately € 900m, including the Capex required to complete two vessels. This strategic move aligns with DEME's ambition to expand its presence in the offshore wind market and strengthens its competitive edge in turbine and foundation installations.


We updated our model after 9M25 turnover surpassed € 3bn, still a 3% y/y increase although 3Q25 turnover was € 980.9m (-9% y/y also impacted by a strong comparison base).

We maintain our Buy and € 175 Target Price.