BUZZ-DEME tracks best day ever after solid Q3, guidance hike

Reuters11-14

** Shares in DEME DEME.BR jump about 10% after the Belgian dredging company raised its FY guidance

** Co now sees turnover growth above 20%, EBITDA margin comparable to 2023, while the nine-month turnover rose 32% to 2.99 billion euros

** Jefferies ("hold") says update shows continued strong momentum, driven by revenue growth beat in Offshore Energy division

** The broker anticipates mid-single digit consensus EBITDA upgrades for 2024

** KBC maintains "buy" rating on stock as "DEME continues to see strong tender activity and a robust pipeline fuelled by solid demand across all contracting segments"

** Shares are on track for their best day ever if gains hold

(Reporting by Olivier Cherfan)

((olivier.cherfan@thomsonreuters.com))

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