DEME Extends Offshore Wind Capabilities with Norse Wind Delivery and New Cable Installation Vessel Order

Norse Wind Delivery Marks an Important Step Forward in DEME Offshore Expansion

DEME has taken delivery of the Norse Wind, an advanced wind turbine installation vessel (WTIV). Constructed at China's CIMC Raffles Shipyard and designed by GustoMSC, this vessel represents an unprecedented advancement in offshore wind installation capabilities. DEME acquired Norway-based Havfram for approximately $1 billion back in May 2025 and this WTIV can install turbines with rotor diameters exceeding 300 meters while supporting up to three tons of monopile weight with ease, setting new industry standards in terms of lifting capacity and operational efficiency.

The vessel boasts cutting-edge hybrid power technology with its innovative direct current power system that uses batteries as its source, with diesel generators running intermittently to recharge their banks. This design reduces emissions while enabling heavier loads than with traditional alternating current systems; additionally it boasts a 3,200-tonne crane capable of operating in water depths up to 70 meters and Force 8 winds with temperatures as low as negative 15 degrees Celsius operational capability.

DEME's vessel, the M/V Eniwa, has already been contracted for major offshore wind projects, with its first assignment scheduled to begin in the first half of 2026 at the Nordseecluster B offshore wind farm located 50 kilometers off Juist Island and covering an estimated capacity of up to 1.6 gigawatts in Germany's North Sea. DEME recently secured a contract to transport and install inter-array cables as part of this joint development effort by RWE and Norges Bank Investment Management - DEME secured this contract recently by RWE/Norges Bank Investment Management for this joint development between RWE/Norges Bank Investment Management with DEME previously being contracted as transporter/installer on board this vessel.

DEME Achieves Success in Cable Installation Market with Acquisition of an Offshore Construction Vessel

DEME has appointed PaxOcean at Zhoushan shipyard in China to deliver an Offshore Construction Vessel (OCV), designed in accordance with the SALT 310 design, in order to expand their subsea cable installation capacity. Set for delivery between 2028-2029, DEME's new OCV will bolster existing cable installation fleet that includes Living Stone and Viking Neptun and provide trenching, burial, and cable-laying operations.

This new OCV will feature a DP2 dynamic positioning system, 150-ton active heave-compensated offshore crane and hangar for two Work Class remotely operated vehicles (ROVs). Additionally, it comes equipped with a hybrid 1,000 kilowatt-hour battery system as well as a propulsion design suitable for fuel flexibility methanol use in future. Furthermore, below deck the vessel features two 2,500-ton cable carousels to enable fast deployment and seamless transitions between various cable installation operations while accommodating up to 123 personnel at once.

Hugo Bouvy, DEME's Managing Director for Offshore Energy, noted the company's extensive track record in subsea cable installation. Over 5,000 kilometers have been installed by DEME across wind farms in Europe and America alone. DEME will leverage its new OCV to enhance cable installation capabilities as well as expand their versatile fleet of vessels and solutions that meet ever-evolving global offshore wind market demands.

Strong Financial Performance and Orderbook Growth.

DEME's third-quarter 2025 trading update showcases its strong performance across its business segments. DEME's nine-month turnover exceeded EUR3 billion (roughly US $3.5 billion), representing a three percent year-on-year increase. Orderbook volumes increased five percent year-over-year compared to EUR7.1 billion ($8.2 billion) seen the prior year and remain steady compared with midyear levels.

DEME's offshore energy division reported an orderbook exceeding EUR4 billion ($4.6 billion), driven by double-digit year-to-date growth which more than offset any soft results elsewhere in its segment. Dredging and infrastructure division orderedbook exceeded EUR3 billion, as DEME secured numerous new contracts including transporting foundations for Formosa IV project in Taiwan as well as cutter dredging work across Africa in the third quarter.

DEME's management has expressed confidence that full-year turnover will at least match 2024 performance, while forecasts point towards strong year-over-year gross operating profit growth with projected gross operating profit margins between 20%-22%. DEME anticipates full year capital expenditure will total around EUR300 Million ($350 Million), which does not include expenses related to Havfram acquisition and its completion and delivery of two new vessels.