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ACTIVITY REPORT 2018 2018 REPORT ACTIVITY REPORT 2018 TABLE OF CONTENTS DREDGING & LAND RECLAMATION OFFSHORE ENVIRONMENTAL INFRA MARINE 62 112 136 148 64 Europe 114 Renewable Energy 138 DEC 150 DIMCO 78 Mediterranean 128 Landfall Construction, Rock Placement 142 Purazur 82 Eastern Europe and Offshore Civil Works 144 de Vries & van de Wiel 84 Asia & Oceania 130 Platform Installation, Decommissioning 145 Ecoterres 88 Africa and Heavy Lift 94 Middle East 134 Scaldis 96 Latin America 102 Indian Subcontinent 106 Indian Ocean 4 18 52 110 DEME Building Materials INTRODUCTION COMPANY DEME CONCESSIONS OVERVIEW & GSR 7 Company Profile 20 Sustainable 54 DEME Concessions 8 Message from the Board Development 58 Global Sea Mineral of Directors 22 People@DEME Resources 12 Our Management Team 24 Quality, Health, Safety 13 Our Executive & Environment Committee 26 Innovation 14 Financial Highlights 30 Fleet Investment 17 DEME’s Core Values Programme 154 38 Structured Finance FLEET & 40 Opportunity & Risk OFFICES Management 42 Drive 156 Fleet 44 DEME4life 160 Offices 48 Energy@DEME 51 Ethics & Business Integrity INTRODUCTION 5 COMPANY PROFILE A global DEME is a world leader in the highly specialised fields of solutions dredging, marine engineering and environmental remediation. provider We can build on more than 140 years of know-how and experience and have fostered a pioneering approach throughout our history, being a front runner in innovation and new technologies. While our company roots are in Belgium, we have built a strong presence in all of the world’s seas and continents, operating in more than 90 countries worldwide. We can rely on 5,200 highly skilled professionals across the globe. With a versatile fleet of over 100 vessels, backed by a broad range of auxiliary equipment, we can provide solutions for even the most complex projects. Solutions Our vision is to work towards a sustainable future by offering for global solutions for global, worldwide challenges: rising sea levels, challenges a growing population, reduction of emissions, polluted rivers and soils and the scarcity of natural resources. Although our activities originated with our core dredging business, our portfolio has diversified substantially over the decades. Our offering includes dredging and land reclamation, solutions for the offshore energy market, infra marine solutions and environmental solutions. Our multidisciplinary capabilities, the synergies in many projects and our integrated corporate structure have made us into a global solutions provider. Exploring We also strongly believe in turning challenges into new opportunities. That’s why we are continuously looking for ways to horizons deploy our knowledge and expertise in other activities, exploring new horizons and expanding our solutions portfolio. We are developing technologies for the sustainable deep- sea harvesting of minerals on the ocean floor. As a leader in environmental remediation we are looking into solutions to tackle marine litter in our rivers and oceans. We are building on our experience in coastal protection to develop nature-based solutions to tackle the rising sea level. Our continued investments in new technologies and activities underline just how important innovation is to our company. Share- DEME’s shareholder is the Brussels-based civil engineering holder contractor CFE, which is controlled by the Belgian investment structure Group Ackermans & van Haaren – both publicly listed companies on Euronext Brussels. INTRODUCTION — 7 MESSAGE FROM THE BOARD OF DIRECTORS 2018 was an extraordinary year for DEME in many ways. As a global solutions provider, we We achieved a 13% increase in turnover, which climbed can contribute significantly to the to 2.65 billion EUR, and an EBITDA of 476.8 million EUR. United Nations Agenda 2030 for Sustainable Development. With our technology expertise we can play a leading The activities of our subsidiaries GeoSea, Tideway, A2Sea role in addressing global challenges, DEME IS and EverSea, which are now grouped into the new DEME including the rising sea level, the increasing world population, the reduction of CO Offshore organisation, made a substantial contribution 2 to this result. With a high level of project execution and emissions, the scarcity of mineral resources and polluted rivers and soil. We also manage several new contracts, we also had a strong performance in our operations in a sustainable manner, the dredging market. The start of the works at three mega further reducing our environmental impact infrastructure projects in the Netherlands has led to an and developing technological innovations TAK ING exceptionally busy year for our infra marine subsidiary DIMCO. that will help address the climate challenges Additionally, our environmental specialists are involved that lie ahead. in several major remediation projects across Europe. Our innovative new and existing dredging vessels have been executing a variety of challenging projects across the globe. In Given the successful growth of our one of the largest land reclamation projects THE LEAD activities and our continued ambition to The long-term DEME has ever worked on, we completed expand, the year was marked by a massive success of DEME more than 80% of the Tuas Terminal Phase recruitment drive that is unprecedented in depends on 1 (TTP1) project by the end of the year. our history. More than 600 new employees We are well on track to finish the project joined our company, both staff and crew, our ability to in Singapore by the end of 2020. In a joint expanding our existing workforce by more continuously venture, we were also awarded a major WITH TRULY than 10%. make the safety contract for the modernisation of the Świnoujście - Szczecin fairway in Poland. The long-term success of DEME depends and well-being The deepening and civil works will take on our ability to continuously make the of our employees about three years. safety and well-being of our employees a top priority. a top priority in all our operations. There In the offshore energy market we had an is nothing more important to us than exceptional year with several challenging PIONEERING ensuring our employees, contractors and share the responsibility for ensuring a safe offshore wind projects successfully partners remain safe, whether on board working environment and are encouraged completed in Europe. Our offshore our vessels or ashore. We continuously to report potential hazards. Zero harm is installation vessels were fully occupied challenge ourselves to raise the bar with our ultimate target on every project, site on projects such as Rentel, Merkur and our safety performance and do not accept and vessel. Hornsea Project One. VESSELS. compromises in this area. All employees INTRODUCTION — 9 MESSAGE FROM THE BOARD OF DIRECTORS style when she carried out a platform energy. We strongly believe in the further Our marine harvesting specialist, Global decommissioning project in the Dutch growth of the offshore energy sector and We had a strong Sea Mineral Resources (GSR) unveiled sector of the North Sea. The installation we continuously and strategically invest the nodule collector ‘Patania II’. The pre- performance in all vessel has extremely long lattice legs and in new technologies to stay ahead in this prototype is the successor of the tracked will serve the offshore energy industry. fast-evolving industry. of our activities. soil testing device ‘Patania I’, which Several new vessels are under construction, was success-fully tested during a 2017 such as the powerful cutter suction dredger expedition in the Central Pacific Ocean. The We would like to thank our customers, ‘Spartacus’, the next generation offshore In our ambition to provide the most ‘Patania II’ integrates the track design of partners and shareholders for their installation vessel ‘Orion’ and two trailing comprehensive offering of solutions, the first ‘Patania’ prototype with a suction continued confidence. We would also suction hopper dredgers. services and equipment to oil, gas head to collect polymetallic nodules from like to sincerely thank all our employees and renewable energy customers, our the seabed and will be tested during a for their hard work and dedication to subsidiaries GeoSea, Tideway, A2Sea and future expedition. Looking ahead, we are well-positioned for DEME. The success is first and foremost EverSea are now operating as the DEME continued success. Major projects kicked the achievement of our employees Offshore activity line. By integrating our DEME Concessions has made quite a off this year in our dredging and offshore worldwide. We are confident that we expertise and capabilities into a more agile mark in the industry, both offshore and activity lines. Our order book and tender are well-positioned for the next growth organisation, we will be able to fulfil the on land. Financial close was achieved for pipeline continues to be strong. We will phase. future requirements of our customers even the SeaMade offshore wind farm in Belgium soon welcome the state-of-the art trailing more rigorously. and for the Blankenburg Connection in the suction hopper dredger ‘Bonny River’ in We would also like to sincerely Netherlands. our fleet, another high-tech vessel demon- thank Alain Bernard for his years of The year was also truly exceptional for our strating our relentless innovation drive. We leadership, commitment and drive as infra marine specialist subsidiary DIMCO. keep exploring new opportunities to deploy a CEO to make DEME a world leader in Works kicked off
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