Roermond,
17
March
2023
|
06:45
Europe/Amsterdam

Full year 2022: Capture Momentum with Expansion Blueprint

While Solidly Executing Strong Order book

Our key performance indicators

Operational  highlights

  •  LTIF 6.62;
  • Output of 169 kton; 130 monopiles and primary steel for 126 transition pieces;
  • Contribution to 1,954 MW offshore wind capacity with foundations for amongst others Dogger Bank A & B and Hollandse Kust Noord;
  • Marshaling services for Siemens’ Hollandse Kust Zuid;
  • Memorandum of Understanding with GS Entec (South Korea) for licensed production of monopiles for Asian market;
  • Order book additions for Ecowende (Shell/Eneco) for Hollandse Kust West VI, Empire Wind (Equinor/BP), Noirmoutier for Eiffage (transition pieces), Borwin 5 for Dragados (jacket piles), Yggdrasil and Valhall for Aker Solutions (jacket leg sections and pin piles);
  • Completion of the blueprint and financing package for the strategic expansion of our manufacturing facilities to increase production to Ø11.5 meters and 500 kton production capacity.

Financial highlights:

  • Contribution increased by 14.3% to €130.5 million;
  • Adjusted EBITDA increased by 6.1% to €41.8 million; 
  • Year-end 2022 net working capital -/- €81.5 million;
  • Year-end 2022 cash of €89.8 million;
  • Return on Average Capital Employed (adjusted) of 43.6%;
  • Order book increased by 53% to 662 kton.

In € million

FY 2022

FY 2021

change YOY

Contribution

130.5

114.2

+14.3%

Adjusted EBITDA[1]

41.8

39.4

+6.1%

Earnings after tax (attributable to the shareholders)

7.2

11.6

-37.9%

EPS in €

0.28

0.45

-37.8%

Adjusted ROACE[2] in %

43.6

43.2

+0.9%

Production in kton

169

171

 -1.2%

Contribution to global offshore wind capacity in MW

1,954

1,873

+4.3%

LTIF in injuries per mln working hours

6.62

4.98

+32.9%

Order book in kton

For 2023

For 2024 & beyond

Total

Contracted

221

371

592

Exclusive negotiations

 

70

70

Total

221

441

662


 [1] EBITDA corrected for expenses that relate to the research into and preparations for the required adjustment and expansion of our production facilities

 [2] ROACE adjusted for one-off expenses directly related to our expansion project

 

Reference is made to the attached PDF for full release