Damen revenue reaches 2.5 billion euros for the first time

In 2022, Damen Shipyards Group’s revenue reached 2.5 billion euros for the first time, according to the company's release. This achievement was despite the effects of the situation in Ukraine, which had, and continues to have, a significant impact on business operations. The order book matched the company record of 8.8 billion euros dating from year-end 2021. EBITDA increased slightly to approximately 85 million euros (81.5 million in 2021); the net profit rose from 1 to 15 million euros.

Despite the fact that the number of completed vessels fell to 104, in part because of the sanctions against Russia, the production value reached a record 2.5 billion euros. The figure in 2021 was still 2.4 billion euros. The completed vessels included the first eleven vessels under a major order for LNG-powered inland vessels by Concordia Damen and a patrol vessel built by Damen Shipyards Cape Town for the South African Navy. Major progress was made on large orders such as four F126 frigates for the German navy and the Combat Support Ship Den Helder for the Royal Netherlands Navy. The volume of repair and conversion orders rose slightly to 1,127.