Deme Group Nv · EURONEXT:DEME
Deme Group Nv — FY2024 Earnings Presentation
33 slides from Deme Group Nv's earnings presentation, Feb 26, 2025
Slide 1: Full Year Results 2024
FULL YEAR RESULTS 2024 OUTSTANDING 2024: STRONG INCREASES IN TURNOVER AND PROFIT; POSITIVE NET CASH AND UNMATCHED ORDERBOOK Luc Vandenbulcke & Stijn Gaytant 26 February 2025 DEME
Slide 2: Agenda
AGENDA 00 Executive summary 01 Group financial highlights 02 Segments update 03 ESG & safety 04 Dividend & outlook 05 Q&A FULL YEAR RESULTS 2024 DEME 2
Slide 3: Executive Summary FY24
EXECUTIVE SUMMARY FY24 Strong increases in turnover and profit - positive net cash and unmatched orderbook Strong free cash flow of 729 million euro vs 62 million Orderbook at an unmatched level of 8.2 billion euro euro a year ago, and leading to a net cash position of 91 million euro Guiding for a
Slide 4: Group Financial Highlights
01 GROUP FINANCIAL HIGHLIGHTS FULL YEAR RESULTS 2024 DEME 4
Slide 5: FY24 – Key Financial Highlights (1/2)
FY24 – KEY FINANCIAL HIGHLIGHTS (1/2) Income statement (in millions of euro) 2024 2023 2022 Orderbook at unmatched level of 8.2 billion euro, +8% vs 2023 Orderbook 8,200 7,582 6,190 y-o-y growth +8% +22% +5% Turnover +25%, surpassing the 4 billion euro mark, Turnover 4,101 3,285 2,655 all segments c
Slide 6: FY24 – Key Financial Highlights (2/2)
FY24 – KEY FINANCIAL HIGHLIGHTS (2/2) Key balance sheet items (in millions of euro) FY24 FY23 FY22 CapEx 2024 declined y-o-y In line with the investment guidance for the year ; Operating including capitalized maintenance investments and new -813 -471 -506 working capital1 fleet additions in the Offs
Slide 7: FY24 – Group Orderbook
FY24 – GROUP ORDERBOOK Orderbook reached a new record level, even with the high conversions of backlog into revenue Orderbook Geographical breakdown Orderbook run-off 2,271 8,200 3% 28% 7,582 10% 2,290 12% 5,905 6,190 28% 7% 4,500 12% 4% FY24 3,639 38% 18% FY23 71% 58% 5% 44% Europe Africa America A
Slide 8: FY24 – Group Turnover
FY24 – GROUP TURNOVER Group turnover grew 25% with strong growth in all contracting segments Turnover Segment breakdown1 Geographical breakdown 4,101 4,101 5% 3,285 3,285 9% 2,511 2,655 2,511 2,655 18% 2,196 2,196 8% 3% 18% FY24 8% 60% FY23 8% 63% Europe Africa America FY20 FY21 FY22 FY23 FY24 FY20
Slide 9: FY24 – Group Profitability
FY24 – GROUP PROFITABILITY Surge in all profitability metrics EBITDA & EBITDA margin EBIT & EBIT margin Net profit & margin 900 25.0% 400 20.0% 350 20.0% 764 354 800 350 300 288 700 300 15.0% 15.0% 596 250 600 241 474 250 200 500 200 8.6% 10.0% 163 10.0% 400 18.6% 155 7.3% 150 18.2% 113 7.0% 17.9% 1
Slide 10: FY24 – CapEx
FY24 – CAPEX Continued investments in strengthening the fleet pay off Evolution of CapEx1 Net Result & Margin 484 441 435 399 282 286 202 2018 2019 2020 2021 2022 2023 2024 (in millions of euro) CapEx Highlights 2024 Major conversion of ‘Yelllowstone’, Increased capacity of ‘Viking Neptun’ with inst
Slide 11: FY24 – Segments
FY24 – SEGMENTS Complementary segments result in diversified sources of income OFFSHORE DREDGING & ENVIRONMENTAL CONCESSIONS ENERGY INFRA (in millions of euro) 2024 2023 2024 2023 2024 2023 (in millions of euro) Since start Turnover1 2,055 1,502 1,963 1,605 337 304 Value of projects at closing c. 7,
Slide 12: Segments Update
02 SEGMENTS UPDATE FULL YEAR RESULTS 2024 DEME 12
Slide 13: Offshore Energy
OFFSHORE ENERGY FULL YEAR RESULTS 2024 DEME 13
Slide 14: Offshore Energy Performance Dashboard 2024
Orderbook reached a record high driven by strong demand, recent expansion of fleet capacity, add- EBITDA grew 87% driven by strong turnover growth and disciplined and effective project OFFSHORE ENERGY ons to existing projects and addition of new contracts in the APAC region and Europe execution Perf
Slide 15: Offshore Energy Key Projects 2024
OFFSHORE ENERGY Key projects 2024 ORION A • DP3 floating installation vessel MORAY WEST (900 MW) 29 monopiles foundations • 5,000-ton lifting capacity A DOGGER BANK A, B & C (3.6 GW) GREEN JADE Inter-array cables & rock dumping • DP3 floating installation vessel A B • 4,000-ton lifting capacity B DI
Slide 16: Dredging & Infra
DREDGING & INFRA FULL YEAR RESULTS 2024 DEME 16
Slide 17: Dredging & Infra Performance Dashboard FY24
Orderbook grew 3% y-o-y with a healthy intake EBITDA grew 20% driven by sustained high DREDGING & INFRA of new projects across various regions activity levels and disciplined project execution Performance Dashboard FY24 Turnover grew 22% y-o-y, approaching two Vessel occupancy increased across the f
Slide 18: Dredging & Infra Key Projects 2024
DREDGING & INFRA Key projects 2024 A B OOSTERWEEL NEW LOCK Completion of Antwerp ring TERNEUZEN road, including construction of Wet and dry earthmoving D immersed tunnel in the Scheldt works and dredging for the B C river new lock complex A E C D H KIEL CANAL I LONDON Widening of the Kiel Canal GATE
Slide 19: Environmental
ENVIRONMENTAL FULL YEAR RESULTS 2024 DEME 19
Slide 20: Environmental Performance Dashboard FY24
Orderbook remains stable with additional EBITDA margin of 13% (2023 margin projects in the Benelux; exploring opportunities included a non-recurring settlement) ENVIRONMENTAL in Italy and the UK Performance Dashboard FY24 Turnover grew 11% to 337 million euro fueled by Launching ‘Cargen’, an innovat
Slide 21: Environmental Key Projects 2024
ENVIRONMENTAL Key projects 2024 Soil remediation and brownfield development A A OOSTERWEEL SERAING B Treating PFAS polluted soils Large reconversion project of a former Arcelor Mittal site, near Liège C A B A FORMER OIL FELUY TERMINAL Remediation of former industrial Turning former oil-polluted oil
Slide 22: Concessions
CONCESSIONS FULL YEAR RESULTS 2024 DEME 22
Slide 23: Concessions
CONCESSIONS Net result Dredging & Infra Green Hydrogen Involved in marine infrastructure Advancing hydrogen development (in millions of euro) 2024 2023 2022 projects (Blankenburg, Port-La Nouvelle, initiatives to be among the first in the Port of Duqm) world to produce green molecules from Net resul
Slide 24: ESG & Safety
03 ESG & SAFETY FULL YEAR RESULTS 2024 DEME 24
Slide 25: ESG (1/2) – Update on progress
ESG (1/2) Update on progress Environmental (in %) 2024 2023 2022 42% of DEME’s turnover is EU taxonomy aligned, up from 33%, driven by strong growth in 2024 offshore wind projects and the inclusion of DEME’s EU Taxonomy - Turnover environmental activities, such as remediation of contaminated sites a
Slide 26: ESG (2/2) – Highlighting some ESG initiatives in 2024
ESG (2/2) Highlighting some ESG initiatives in 2024 MOVING TO ZERO-EMISSION TESTING OF HYDROGEN GENERATOR ELECTRIFICATION OF OUR CAR FLEET EQUIPMENT TOWARDS A CLIMATE-NEUTRAL COLLABORATION WITH CYCLING FOR KOM OP TEGEN KANKER DEME CAMPUS MERCY SHIPS FULL YEAR RESULTS 2024 DEME 26
Slide 27: Dividend & Outlook
04 DIVIDEND & OUTLOOK FULL YEAR RESULTS 2024 DEME 27
Slide 28: Dividend
DIVIDEND An 81% increase in gross dividend In line with DEME’s dividend policy, targeted to a pay-out ratio of 33% of the group’s net profit, the Board of Directors will propose to the General Assembly a gross dividend of 3.8 euro per share, marking an 81% increase compared to last year. Subject to
Slide 29: Outlook
OUTLOOK Considering the current project schedules in the backlog, the pipeline of new opportunities and fleet capacity, DEME’s management expects for 2025 Turnover and EBITDA margin to be at least in line with 2024 CAPEX to be around 300 million euro before larger fleet capacity expansion investment
Slide 30: Q&A
Q&A FULL YEAR RESULTS 2024 DEME 30
Slide 31: Agenda – Financial Calendar
AGENDA FINANCIAL CALENDAR 26/02/2025 Full year 2024 results 24/03/2025 Publication annual report Trading update 14/05/2025 Q1 2025 21/05/2025 General assembly 26/08/2025 Half year 2025 results Trading update 13/11/2025 Q3 2025 FULL YEAR RESULTS 2024 DEME 31
Slide 32: Thank You
THANK YOU For more information vanden.bussche.carl@deme-group.com FULL YEAR RESULTS 2024 DEME 32
Slide 33: Disclaimer
DISCLAIMER DISCLAIMER The Information and any opinions contained therein are provided as at the date of the presentation and are subject to change without notice. In giving this presentation, DEME does not undertake any obligation to provide the recipient with access to any additional information or