As of today, 30 June, DEME Group is listed on Euronext Brussels. According to Luc Vandenbulcke, CEO DEME Group, the listing will give the company ‘the necessary and direct visibility to drive its strategy and ambitions forward’.
‘The listing on Euronext Brussels will also unlock the full potential of the Group and realise its true value,’ says Vandenbulcke. ‘We are convinced the listing is a great opportunity for our company, our clients, investors, shareholders, and our entire team of employees. As a publicly-listed company, our goal remains to grow our geographical footprint in all segments of the DEME Group, while keeping sustainability and safety at the absolute core of our operations.’
An iconic bell ringing ceremony will be held at Euronext Brussels to mark DEME’s first day of trading on the stock exchange.
DEME’s mission is to work towards a sustainable future by offering solutions for global challenges: rising sea levels, a growing population, the reduction of emissions, polluted rivers and soils, and the scarcity of mineral resources needed for the energy transition. The company is active in the fields of offshore energy, dredging and marine infrastructure, environmental remediation, green hydrogen and deep-sea minerals harvesting. DEME has about 5000 employees and operates more than 100 specialist vessels.
DEME Group was admitted on Euronext Brussels through the admission to trading of the 25,314,482 ordinary shares making up its equity, following the partial demerger of CFE. On December 2, 2021, CFE announced its intention to split into two separate listed entities: DEME Group (global marine solutions) and CFE (construction, multitechnics and real estate development activities). Ackermans & van Haaren will remain the majority shareholder of the two listed companies.
In 2021 DEME realised a turnover of 2.51 billion EUR and an EBITDA of 469 million EUR.
Boskalis headed in opposite direction
Its interesting to see that DEME’s Dutch competitor Boskalis is headed in the opposite direction. HAL has launched a public offer for Boskalis’ outstanding shares. If the investor succeeds in its bid, it plans to take the company off the stock market and turn it into a private company.
HAL feels that the current public listing offers limited added value to Boskalis, and does not outweigh the costs and other disadvantages of the listing. HAL believes that given Boskalis’ business characteristics, the long-term nature of its larger projects (typically spanning multiple years) and the cyclicality of its underlying markets, Boskalis could benefit from private ownership with a long-term investment horizon and that such private ownership could also enhance merger and acquisition opportunities.
Picture by DEME Group.