Dutch shipbuilding group Damen Shipyards Group closed 2024 with record results: revenue exceeded €3 billion, and net profit rose to €58 million, compared to €43 million the year before. Order book reached an all-time high of €10.4 billion after signing new contracts worth €5.9 billion.
Damen built and delivered 146 vessels during the year, including Europe’s first fully electric tug, the Volta 1, and the Bu Tinah for the UAE. Tugs continue to account for the largest share of the newbuilding portfolio, followed by dredgers.
The company also received orders for electric ferries for Canada and a hydrogen-powered vessel for Windcat. According to CEO Arnaut Damen, 2025 results are expected to be on par with 2024. He stressed that Damen will continue to strive to be “Europe’s most innovative and sustainable shipbuilder.”