Trading update: Sif Full Year 2018 results
Gearing up for improved and newmarket outlook.
Sif Holding N.V. (Euronext symbol SIFG / ISIN code NL0011660485) - Regulatory news
- Continued strong safety performance resulting in LTIF of 0.97 for FY 2018 (1.49 in 2017)
- Production and/or delivery of monopiles and transition pieces for Borssele 3+4, Hohe See, Albatros, Trianel and Norther offshore wind farms
- Delivery of pin piles for Peregrino and Sverdrup jacket foundations
- Innovations support decreasing LCOE for offshore wind
- Contracts won for Seamade and Borssele 1+2+3+4
- New exclusive position for 75 Kton project
- Total throughput of approximately 138 Kton of steel (2017: 232 Kton)
102 Kton (or 74%) for offshore wind
34 Kton (or 24%) for oil & gas
2 Kton (or 2%) for other
- FY 2018 contribution of € 74.3 million (FY 2017: € 135.6 million)
- FY 2018 normalized EBITDA of € 13.3 million (FY 2017: € 57.1 million);
- FY 2018 profit attributable to the shareholder -€ 2.1 million (FY 2017: € 30.8 million);
- Earnings per share 2018 -€ 0.08 (€ 1.21 in 2017);
- Dividend proposal € 0.10 in cash per share (€ 0.30 for 2017);
- Year-end 2018 net working capital € 14.2 million (YE 2017: € 7.1 million)
- Year-end 2018 net debt € 30.4 million (YE 2017: € 25.1 million)
- Order book 210 Kton signed contracts for 2019; 155 Kton exclusive negotiations for 2020 and beyond
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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.