Trading update Q3 2017
Sif Holding N.V. (Euronext symbol SIFG / ISIN code NL0011660485) - Regulatory news
- Official opening of the new production plant at Maasvlakte 2 in Rotterdam
- Contract awards for Tritan Knoll (offshore wind) and Peregrino (oil & gas)
- Timely delivery of monopiles and transition pieces for Hohe See and Rentel offshore wind parks
- Timely delivery of pin-piles for Oseberg and Sverdrup oil & gas jacket foundation
- Contribution Year to Date increased by 6.2% to € 104.7 million (€ 98.6 million YTD 2016)
- Normalized EBITDA Year to Date decreased by 18.2% to € 44.9 million (€ 54.9 million YTD 2016)
- Operating Working Capital at end of Q3 2017 € 6,5 million (€ 18.1 million at end of Q2 2017)
- Net Debt at end of Q3 2017 € 32.1 million (€ 47.7 million at end of Q2 2017)
- Throughput of 59 Kton brings Year to Date production to 167 Kton (142 Kton YTD Q3 2016)
- 90% for offshore wind
- 10% for offshore oil & gas
- Orderbook 53 Kton for Q4 2017, 122 Kton for 2018 and 60 Kton for 2019
See attachment for the full release.
Sif is a leading manufacturer of large steel tubulars, which are used as foundation components for the offshore wind and offshore oil & gas markets. The Company manufactures customised tubular components for offshore foundations, predominantly in the greater North Sea region. Sif combines a highly automated and flexible production facility with technology leadership in rolling and welding of heavy steel plates, which is based on over 70 years of experience and innovative in-house developed techniques and processes. Sif primarily produces monopiles, transition pieces and piles that are used to anchor jacket foundations in the seabed for offshore wind turbines, as well as legs, pile sleeves, and piles of the larger jackets for oil & gas as well as tubular structures for various uses such as jetties.
Some of the statements contained in this release that are not historical facts are statements of future projections and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. Historical results are no guarantee for future performance. Forward-looking statements are subject to various risks and uncertainties, which may cause actual results and performance of Sif’s business to differ materially and adversely from the forward-looking statements. Certain forward-looking statements can be identified by the use of forward-looking terminology such as “believes”, “may”, “will”, “should”, “would be”, “expects” or “anticipates” or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans, or intentions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this release as anticipated, believed, or expected. Sif does not intend, and does not assume any obligation, to update any industry information or forward- looking statements set forth in this release to reflect subsequent events or circumstances. The content of this trading update is for information purposes only and not intended as investment advise, or offer or solicitations for the purchase or sale in any financial instrument. Sif does not warrant or guarantee the completeness, accuracy, or fitness for any particular purposes in respect of the information included in this release.