Roermond,
24
August
2017
|
07:00
Europe/Amsterdam

Interim 2017 results 24 August 2017

Operational highlights:

Contract wins for Norther and Hohe See in Q1 and for Borkum II and Albatros in Q2

Delivery of monopiles and transition pieces for Galloper and Rentel offshore wind parks

Delivery of pinpiles for Beatrice and Sverdrup jacket foundations

Production expansion program in Rotterdam (Maasvlakte 2) and Roermond on schedule for increase of capacity from 225 Kton to 300 Kton per annum by the end of 2017

Total throughput of approximately 108 Kton steel (97 Kton in HY1 2016)

o 91% for offshore wind (88% HY1 2016)

o 9% for offshore oil & gas (12% HY1 2016)

Key figures:

Contribution increased by 14.1% to € 74.4 million (HY 2016: € 65.2 million)

Higher set- up and start- up expenses both recurring and non- recurring had an impact on EBITDA; EBITDA normalized for IPO costs reached € 33.7 million (HY 2016: € 36.9 million)

Revenue decreased to € 156.2 million (HY 2016: € 205.3 million)

Operating working capital stood at € 18.1 million (YE 2016: € 8.3 million)

Net debt totaled € 47.7 million (YE 2016: € 42.0 million)

Order book of 109 Kton signed contracts for 2018