DEME reported a sharp rise in earnings at its Offshore Energy division for 2025, driven by continued momentum in offshore wind construction and vessel utilisation.
The segment posted EBITDA of €655 million for the year, up 52% from 2024, the company said in its full-year results. Turnover from the offshore wind unit increased 4% year-on-year to €2.13 billion, while EBIT climbed 54% to €398.3 million.
DEME said its Offshore Energy order book stood at €4.24 billion, broadly stable compared with the previous year. The backlog was supported by follow-on work, new awards including Formosa 4 in Taiwan, Nordseecluster B in Germany and BC Wind in Poland, as well as the addition of Havfram.
Fleet utilisation remained high at 85% (44 weeks), compared with 90% (47 weeks) in 2024.
US projects advance
In the United States, the division installed all 176 monopiles at Coastal Virginia Offshore Wind for Dominion Energy and has moved into transition piece and offshore substation installation. This phase is expected to conclude before the end of the first half of 2026.
At Vineyard Wind, DEME is completing turbine and blade installation, while cable works were executed for Empire Wind 1. Both projects are expected to be finalised in the first half of 2026.
APAC and Europe pipeline
In Asia-Pacific, the company’s joint venture completed jacket foundation installation at the Hai Long offshore wind project using the Green Jade vessel and is progressing turbine works, with Sea Challenger scheduled to start operations in April 2026.
For Greater Changhua, seabed preparation and scour protection for the offshore substation have been completed, while preparations continue at Fengmiao to begin pin pile installation in the first quarter of 2026.
In Europe, DEME finalised work at Île d’Yeu and Noirmoutier, installed the offshore substation and began jacket installation at Dieppe–Le Tréport, and started inter-array and export cable work at Baltic Power.
In the UK, following completion of cabling at Neart Na Gaoithe and Dogger Bank A and B, the company has commenced work on Dogger Bank C.
Fleet expansion
During the second quarter of 2025, DEME completed the acquisition of Havfram, adding next-generation turbine installation vessels Norse Wind and Norse Energi to its fleet.
Norse Wind was delivered in the fourth quarter of 2025 and is expected to begin turbine installation work for Vestas in the first half of 2026. Norse Energi followed in January 2026 and is scheduled to start its first project in the third quarter.
The Offshore Energy segment also ordered a new Offshore Construction Vessel to expand subsea cable installation capacity alongside Living Stone and Viking Neptun.
