Semco Maritime has reported a solid financial performance for 2025, maintaining strong activity levels despite operating in a market shaped by political uncertainty and macroeconomic volatility.
The energy sector specialist recorded revenue of DKK 5.6 billion, stabilising at a record-high level following several years of sustained growth. While profitability dipped slightly compared to 2024, the Group delivered EBITDA before special items of DKK 292 million, corresponding to a margin of 5.2%, down from DKK 318 million and 5.6% the previous year. The results were in line with expectations and driven by consistent operational performance across the business.
A key highlight of the year was the continued acceleration of Semco Maritime’s renewables strategy. The company exceeded its target of generating 65% of Group revenue from renewables by 2027, achieving 67% in 2025, up from 58% in 2024.
CEO Steen Brødbæk said: “Our efforts to raise the share of Group revenue from Renewables to 65% by 2027 continued, and we surpassed the strategic target ahead of schedule. This is an important milestone for us as it underlines our ability to adapt to the dynamic conditions in global energy markets and execute our strategy in a highly volatile environment.”
The Group also reported strong commercial momentum, with order intake rising by 26% to DKK 6.4 billion during the year. Its order book increased by 14% to DKK 6.7 billion, providing a solid platform for sustained activity and future growth.
Despite ongoing caution among politicians, developers and investors particularly within the renewables sector, Semco Maritime secured several significant contract wins. The company has responded to market uncertainty by sharpening its focus on offshore wind service assignments and other resilient segments.
Brødbæk added: “We navigated the increasingly unstable investment climate in the renewables sector by sharpening the focus on offshore wind service assignments and other areas characterised by greater resilience to political uncertainty. We have also taken steps to position Semco Maritime as a key player in the defence sector.”
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Looking ahead, the company expects to maintain its positive trajectory into 2026. Revenue is forecast to remain within 10% of 2025 levels, supported by continued growth in renewables, particularly through new multi-year offshore wind service agreements. Conventional energy activity is expected to remain stable, with a modest uplift driven by rig maintenance and upgrade projects.
Profitability is projected to stay solid, with an expected EBITDA margin of between 5% and 7% before special items.
However, Semco Maritime cautioned that its outlook remains subject to significant uncertainty. Political opposition to renewable energy projects in the US, broader geopolitical tensions, and continued macroeconomic instability are all expected to impact investment levels and market visibility. Ongoing conflicts and supply chain challenges may also contribute to energy price volatility and fluctuating costs.
