Roermond,
12
May
2023
|
07:15
Europe/Amsterdam

Trading update Q1 2023

On track to meet 2023 forecast, execution expansion plan on schedule

Operational highlights

  • Four Lost Time Injuries;
  • Sickness absenteeism at 7.2% (8.2% in Q1 2022);
  • Production of monopiles and transition pieces for Dogger Bank B and He Dreiht;
  • Workforce at end of Q1 stood at 374 permanent and 244 flexible FTE (end of Q1 2022: 366 permanent and 224 flexible);
  • Total throughput of approximately 48 Kton steel (48 Kton in Q1 2022).

Key figures

  • Contribution of €34.0m (€30.5m in Q1 2022) of which €29,8m for wind (€26,3m in Q1 2022), €2.2m for marshalling (€2.4m in Q1 2022) and €2,0m for other activities (€1.8m in Q1 2022), including engineering services;
  • EBITDA of €9.6m (€8.8m in Q1 2022);
  • Adjusted EBITDA of €10.8m (€9.6m in Q1 2022);
  • Net Working Capital at end of Q1 2023 -/- €85.7m (-/- €81.5m at end 2022);
  • Cash at the end of Q1 2023 of €138.2m (€ 89.8m cash at end 2022);
  • Orderbook contains approximately 170 Kton for remainder 2023 and 549 Kton for 2024 and beyond (270 Kton end of Q1 2022 for 2023 and 2024).
In € (millions)

Q1 2023

Q1 2022

delta

Contribution

34.0

30.5

+11.5%

Adjusted EBITDA

10.8

9.6

+12.5%

Production (in Kton)

48

48

0

Orderbook (Kton) 
as at 12 May 2023

For remainder 2023

For 2024

For 2025-2026

Contracted

170

161

158

Exclusive negotiation

0

45

185

Total

170

206

343

Important Note: in this release, Sif uses various non-IFRS financial measures. Please consult the overview and definition of used measures at the end of this release

 

Reference is made to the PDF attachment for the full release