Roermond,
14
May
2020
|
07:30
Europe/Amsterdam

Trading update: highlights and key figures Q1 2020

Operational highlights

  • Continuation of safety performance with zero Lost Time Injuries
  • Production of transition pieces and monopiles for Triton Knoll and Borssele 1, 2, 3, 4 & 5;
  • Production of jacket- components for Sverdrup P2 and Hod-field;
  • Start-up production Akita-Noshiro and Saint Nazaire;
  • Marshalling services contract with Siemens Gamesa for 2021-2023 timeframe
  • Mitigation measures in relation to COVID 19 outbreak;
  • Workforce at end of Q1 at 236 flexible and 312 permanent FTE (End of Q1 2019; 220 flexible and 292 permanent)
  • Total throughput of approximately 35 Kton steel (42 Kton in Q1 2019);
  • Post quarter event: Exclusive negotiations for undisclosed offshore wind project of 130 Kton

Key figures

  • Contribution €20.8m (€18.8m Q1 2019)
  • EBITDA €2.7m (€4.1m Q1 2019)
  • Net Working Capital at end of Q1 2020 - €41.8m (- €21.8m at end Q1 2019)
  • Net debt at the end of Q1 2020 - €21m (net cash) (€ 21.3m at end 2019)[1]
  • Order book approximately 135 Kton for remainder 2020 and 230 Kton for 2021 and beyond

[1] Net debt corrected for IFRS16 effects.