Trading update Q3 2021
Nov 5, 2021
Execution of orderbook on schedule, transformational plan for future manufacturing nearing completion
Highlights Q3:
- 2 lost time safety- incidents: YTD number of LTI now 3 (1 in Q3 2020);
- COVID-19 measures: still alert in respect of recent developments;
- Fine-tuning production lines for start-up of Dogger Bank A;
- High tender activity for post-2023 with a mix of smaller and larger sized projects;
- Tight labor market for multiple disciplines;
- Construction of Roll-on -Roll-off quay and 200-meter quay-extension progressing towards completion;
- On track for replacement of gas-preheating by electrical preheating (induction).
Key figures:
- Year-to-Date (YTD) contribution increased to €82.5 million (€68.5 million YTD 2020)
- €77.9 million from production of (components for) foundations (€67.5 million first 9 months 2020)
- €1.9 million from marshalling activities (€1.0 million first 9 months 2020);
- €2.7 million from engineering activities (€0 first 9 months 2020);
- EBITDA Year to Date increased to €28.0 million (€17.3 million first 9 months 2020);
- Operating Working Capital at end of Q3 2021 -€58.4 million (-€70.9 million at end of Q3 2020 and -€56.9 million at end of Q2 2021);
- Total cash position at end of Q3 2021 €62.4 million (€49.5 million at end of Q3 2020 and €61.7 million at end of Q2 2021);
- Throughput of 36 kilotons brings Year to Date production to 124 kilotons (113 kilotons YTD Q3 2020);
- Order book 46 kilotons for Q4 2021, 185 kilotons for 2022 and 220 kilotons for 2023 and beyond.
In € million | YTD 2021 | YTD 2020 | Change YoY | Q3 2021 | Q3 2020 |
Contribution | 82.5 | 68.5 | +20.4% | 24.8 | 22.8 |
EBITDA | 28.0 | 17.3 | +61.8% | 7.8 | 5.8 |
Kton production | 124 | 113 | +9.7% | 36 | 37 |
Order book in Kton | For remainder 2021 | For 2022 | For 2023 and beyond | ||
Contracted | 46 | 185 | 90 | ||
Exclusive negotiation | 0 | 0 | 130 | ||
Total for the year | 46 | 185 | 220 |
Year-to-date (YTD) refers to the period 1 January- 30 September
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