Roermond, The Netherlands,
24
August
2018
|
07:00
Europe/Amsterdam

Interim Results 2018

Summary

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

Operational highlights:

  • Contract won for Borssele 3&4; financial close 28 June 2018
  • Contract won for Tyra jacket components
  • Delivery of monopiles and transition pieces for Hohe See and Borkum West 2 (Trianel) offshore wind farms
  • Delivery of pin piles for Johan Sverdrup and Peregrino jacket foundations
  • Extensive maintenance program and layout adjustments during period of low utilization
  • Total throughput of approximately 81 Kton steel (108 Kton in HY1 2017)
    • 78% for offshore wind (91% HY1 2017)
    • ​22% for offshore oil & gas (9% HY1 2017)

Key figures:

  • Contribution of € 45.6 million (HY 2017: € 74.4 million)
  • EBITDA adjusted for IPO costs reached € 14.0 million (HY 2017: € 33.7 million)
  • Revenue reached € 145.9 million (HY 2017: € 156.2 million)
  • Operating working capital stood at € 32.7 million (HY 2017: € 18.1 million; YE 2017: € 7.1 million)
  • Net debt totaled € 52.5 million (HY 2017: € 47.7 million; YE 2017: € 25.1million)
  • Order book per 23 August 2018 of 150 Kton for 2018, 200 Kton for 2019 and 90 Kton for 2020

Post reporting events:

  • New CEO nominated for appointment at General Meeting of Shareholders 31 August 2018
  • Successful test of Blue 25M hammer installation technology by Carbon Trust and Fistuca
  • Entered into exclusive negotiations for projects for 2019 (total approx. 115 Kton)

View attachment for the full interim 2018 report.

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About Sif Holding N.V.

Sif is a total solutions provider for design engineering and excellent manufacturing of offshore foundations for wind farms, including logistics and marshalling services. Sif traditionally serves the North-Western European markets and is exploring its global presence. Sif combines two highly automated and flexible production facilities in Roermond and Rotterdam (Tweede Maasvlakte) with technology leadership in rolling and welding of heavy steel plates, which is based on 75 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.