Damen Shipyards posts revenue and profit growth in 2025

Damen Shipyards Group closed 2025 with stronger revenues, higher profits and a well-stocked order book. Revenue rose from €3.02 billion to €3.25 billion. EBITDA climbed roughly 10% to €185 million. Net profit reached €61.1 million, up from €58.3 million in 2024. The order book for 2026 and beyond stands at just over €10 billion.

Damen delivered 160 vessels in 2025, the most since 2019 and fourteen more than the previous year. More than half were tugs. The yard also delivered nineteen Fast Crew Suppliers, thirteen Combi Freighters and nine dredgers. Highlights included the naming of the Combat Support Ship HNLMS Den Helder for the Royal Netherlands Navy and the delivery of Germany’s first fully electric ferry, the Frisia E-1. BC Ferries in Canada received its seventh, eighth and ninth fully electric-capable Island Class ferries.

Damen Shiprepair handled 1,235 projects, up from 1,200 in 2024. Notable projects included refits of the Disney Dream and Disney Fantasy cruise ships and the delivery of the heavy-lift jack-up platform Obana for North Sea decommissioning work.

On the commercial side, Damen signed contracts for 24 tugs and workboats for the British Royal Navy, port infrastructure replacement in the Falkland Islands and licensing agreements with Australia and the United States for Landing Ship Transport 100 vessels. Wilson Sons in Brazil ordered its 100th Damen tug, then followed up with twelve more.

Damen also made two acquisitions. It bought Southampton-based IME Group and took over Norwegian shipyard Folla to strengthen its position in sustainable aquaculture.

The group acknowledged ongoing legal proceedings related to suspected forgery on shipbuilding projects from 2006 to 2016, as well as a separate alleged sanctions violation linked to fishing vessel parts. Damen said it has significantly strengthened its compliance and governance structures in recent years.

Looking ahead, CEO Arnout Damen said the order book gives the company confidence heading into 2026, with continued focus on efficiency, risk management and targeted investment in innovation and sustainability.

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