Roermond,
23
June
2026
|
07:00
Europe/Amsterdam

Sif update on 190 kt exclusive negotiation and production for 2026

Sif Holding N.V., a leading provider of offshore wind foundation solutions, provides an update on the exclusive negotiation project in its order backlog and updates its production outlook for 2026.

Over the past months, the project developer of the North Sea based project with which Sif is in exclusive negotiations, together with relevant governmental bodies, Sif and other supply chain partners have been working constructively to address the challenges faced by the project developer to progress with the project.

We are pleased that the outcome of these discussions provides a solid basis for the developer, Sif, and other stakeholders to progress with the development of this project towards a final investment decision for the developer and, subsequently, to commence monopile manufacturing in the target window May to August 2027. This will ensure full capacity utilization across both production facilities for approximately three quarters. Based on our current tender activities we are confident in securing additional order backlog following completion of the exclusive negotiation project.

This creates a clear path forward for Sif and all stakeholders to finalize all preparational and contractual work required to deliver this milestone project. In a time where offshore wind renewable energy is key to assuring energy independence and energy security, this project is essentially positioned to deliver on all these elements.

At the time of the first exclusive negotiation announcements in 2025, fabrication of the monopiles was expected to start earlier than is currently anticipated due to the challenges faced by the project developer. Based on today’s planning, Sif will have a gap in the first half of 2027 in its production schedule across both manufacturing sites. To avoid significant costs and operational risks in scaling down and subsequently ramping up at both manufacturing sites between the two projects, and to ensure retention of our skilled, experienced and committed employees - we have taken the decision to spread production of our existing backlog as far as possible into 2027, while always maintaining contractual delivery schedules as agreed with our customers. Consequently, we will produce less in 2026, and therefore the revenue associated with this production and approximately EUR 40 million Adjusted EBITDA will shift from 2026 to 2027.

The Company is taking active measures to manage its working capital and short-term liquidity, including a contemplated issuance of a EUR 175 million senior unsecured bond, which will be used to repay our outstanding term loan and create financial flexibility for the Company. Following the contemplated bond issue, Sif will have a robust capital structure and sufficient financial flexibility extending well beyond the expected start of the exclusive negotiations project. Concurrently with this announcement, please also refer to the Company’s separate bond launch announcement, as well as the information published on the Company website in this regard.

Based on current market developments and tendering activity, we remain optimistic that long-term perspectives for offshore wind are healthy, albeit the short-term outlook remains challenging.

Contact Information

Sif Holding N.V.
Fons van Lith
+31 (0)475 385 777
+31 (0)6 513 14952
f.vanlith@sif-group.com

About Sif Holding N.V.

Sif Holding N.V. delivers total solutions for the design and production of foundations for offshore wind farms, including logistics services and marshalling. Traditionally serving Northwestern European markets, Sif is expanding its global reach. The company operates two highly automated and flexible production facilities in Roermond and Rotterdam (Second Maasvlakte) and is recognized for technological leadership in rolling and welding heavy steel plates, built on 75 years of experience and innovative self-developed techniques and processes. Sif primarily manufactures monopiles, transition parts, and piles for anchoring jacket foundations of wind turbines in the seabed.