Roermond, The Netherlands,
15
March
2018
|
07:00
Europe/Amsterdam

Trading update: Sif Full Year 2017 results

Summary

Sif Holding N.V. (Euronext symbol SIFG / ISIN code NL0011660485) - Regulatory news

Operational highlights Q4:

  • Continued strong safety performance resulting in LTIF of 1.49 for FY 2017 (2.83 in 2016)
  • Production of monopiles and transition pieces for Hohe See, Albatros, Borwin 3, Trianel and Norther offshore wind farms
  • Delivery of pin piles for Peregrino jacket foundation
  • New location at Rotterdam (Maasvlakte 2) running at full capacity
  • Total throughput of approximately 66 Kton of steel (Q4 2016: 49 Kton) results in FY 2017 production of 232 Kton (FY 2016: 191 Kton)
    • 208 Kton (or 90%) for offshore wind
    • 24 Kton (or 10%) for oil & gas

Key figures Q4 and FY2017:

  • Q4 contribution of € 30.9 million (Q4 2016: € 30.9 million) results in FY 2017 contribution of € 135.6 million (FY 2016: € 129.5 million)
  • Q4 normalized EBITDA of € 12.2 million (Q4 2016: € 10.5 million) results in FY 2017 normalized EBITDA of € 57.1 million (FY 2016: € 65.4 million);
  • FY 2017 profit attributable to the shareholder € 30.8 million (FY 2016: € 37.4 million);
  • Earnings per share 2017 € 1.21 (€ 1.47 in 2016);
  • Dividend proposal € 0.30 in cash per share (€ 0.37 for 2016);
  • Year-end 2017 net working capital € 7.1 million (YE 2016: € 8.3 million)
  • Year-end 2017 net debt € 25.1 million (YE 2016: € 42.0 million)
  • Order book 115 Kton signed contracts and 70 Kton exclusive negotiations for 2018; 60 Kton signed contracts for 2019

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About Sif Holding N.V.

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.

DISCLAIMER
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.