The Dutch shipyard group Damen Shipyards was able to further strengthen its market position last year. The group delivered a total of 160 ships.
Damen Shipyards is entering the next financial year with a full order book and good profits. The order book comprises over € 10 billion and is at a similar level to 2025. The Group’s turnover rose from € 3.02 billion to € 3.25 billion, while EBITDA increased by a good 10% from € 169 million to € 185 million. The company’s net profit amounted to € 61.1 million, also a slight increase on the previous year’s figure of € 58.3 million.
“In 2025, we have once again proven that we as Damen, together with our customers, partners and suppliers, can deliver consistently good performance in a very dynamic world,” explains CEO Arnout Damen. “We have once again improved our financial results and at the same time invested in digitalization, sustainability and the further development of our company. In doing so, we are strengthening the Dutch and European maritime manufacturing industry and continue to pursue our goal of being the most innovative and sustainable shipbuilder.”
When publishing the business figures, the company also referred to the war in Ukraine, which is unfortunately not yet over. Damen has subsidiaries in Ukraine, including the engineering firm Marine Design Engineering Mykolayiv (MDEM), which specializes in ship design and technical services. “Damen continues to support its Ukrainian colleagues, including through the Damen Support Foundation,” the company announced.
Tugs, freighters and naval vessels
Last year, Damen delivered more than 150 ships for the first time since 2019. With a total of 160 ships, the number of deliveries was 14 more than in 2024. Around half of these were in the tugboat segment alone. In addition, 19 fast crew suppliers (FCS), 13 combi freighters (CF) and nine dredgers were delivered.
“One of the highlights of the year was the christening of the Combat Support Ship (CSS) ‘HNLMS Den Helder’ for the Royal Netherlands Navy by Her Royal Highness Princess Amalia of the Netherlands,” said the shipyard group. “Other notable achievements include the launch of the seventh, eighth and ninth Island-class ferries for BC Ferries (Canada) – which can be operated fully electrically – and the delivery of Germany’s first fully electric ferry, the ‘E-Kat Frisia E-1’.”
The Damen Shiprepair shipyards also recorded growth. The number of projects rose from 1,200 to 1,235, including the modernization of the cruise ships “Disney Dream” and “Disney Fantasy” as well as the delivery of the heavy lift platform Obana. In this project, two floating jack-up platforms were combined into one large platform, which was specially designed for the decommissioning of drilling platforms in the North Sea.
Milestones and highlights
In addition to its operational and financial performance, the Group recorded further positive developments in 2025. For example, it celebrated the 150th anniversary of the Royal Schelde – now Damen Naval – in Vlissingen. Damen launched the Ship-Air-Go project – co-funded by the Dutch Maritime Innovation Program – based on the Damen Air Cavity System (DACS), an underwater air lubrication system, and commissioned a new 13,000 m² distribution center in Schelluinen (Netherlands).
In addition, Damen acquired and integrated the British IME Group based in Southampton and took over the Norwegian shipyard Folla to strengthen its position in the field of sustainable aquaculture solutions. Damen also partnered with Fugro to supply the Royal Netherlands Navy with an FCS 5009 patrol boat and crew, as the group recently announced.
In 2025, Damen signed a number of contracts for the coming years, including the delivery of 24 tugs and workboats to support the British Royal Navy. Other orders include the renewal of port infrastructure in the Falkland Islands, the 100th Damen tug for Wilson Sons in Brazil (followed by an order for twelve more tugs) and license agreements with Australia and the United States for the supply of numerous LTT-100 landing craft. “These vessels are suitable for a wide range of applications,” Damen Shipyards said. “Thanks to their ability to transport personnel, vehicles, equipment and cargo, they can be used for patrol, landing, survey and reconnaissance operations as well as for the delivery of humanitarian aid and disaster relief.”
Ongoing legal proceedings
As part of the annual review, the shipyard group also published a statement on ongoing legal proceedings that were initiated in 2025. They relate to suspected cases of forgery, in particular in connection with several shipbuilding projects from the period 2006 to 2016. In addition, a separate case concerns a suspected violation of sanctions regulations in connection with the shipment of parts for fishing vessels. “The company is aware that the media attention surrounding these legal proceedings has a significant impact on the company, the employees personally and the external perception of Damen. At the same time, this perception does not reflect the many good and innovative efforts being made around the world,” Damen Shipyards said.
Outlook for the coming year
Despite the challenges in the market, Damen Shipyards believes that the results for 2025 are better than those of 2024, but will continue to focus on improving efficiency, risk management and cost savings in the coming years in order to achieve acceptable and stable profitability and create room for targeted investments in innovation and sustainability.
“I am proud that together we have once again been able to improve our results,” said CEO Arnout Damen. “We have not yet reached our goal, but 2026 promises great things. Our order backlog is at the same high level as last year, so we are confident and optimistic about the future. Under the motto ‘One Team, One Damen’, we are continuing to build a future-proof, innovative and sustainable company.”
