Roermond,
08
May
2026
|
07:00
Europe/Amsterdam

Trading update Q1 2026

Highlights and Key Figures for Q1 2026

Operational Highlights Q1:

  • Five lost time safety incidents in Q1 2026, resulting in an LTIF of 7.0 on a twelve-month rolling basis (two LTI’s in first three months 2025 with LTIF of 2.2);

  • The rolling 12 months  sick leave at the end of Q1 2026 decreased to 7.5% compared to 7.7% for the period ending Q1 2025;

  • Production optimization continues to show solid performance improvements through the Maasvlakte II facilities and remains on track with the revised schedule: full capacity by end of Q2 2026;

  • Throughput of 60 Kton in Q1 2026 (39 Kton Q1 2025);

  • Production and load-out of monopiles for Ecowende was completed on 20 March, and production of monopiles for Baltyk II and Baltyk III is progressing according to schedule;

  • Increasingly positive market sentiment for Offshore Wind given the traction the North Sea Energy Cooperation (NSEC) is making in turning ambitions in real investments in Offshore Wind farms, Grid and interconnectors and shared country financing.

Key figures (unaudited):

  • Q1 2026 contribution increased to €63.8 million (€40.1 million first three months 2025):

    • €55.0 million from production of monopiles and transition pieces for offshore wind (WIND) (€32.4 million first three months 2025);

    • €5.5 million from production of offshore steel structures (OSS) (€5.2 million first three months 2025);

    • €0.2 million from Marshalling and Logistic services (€0.1 million first three months 2025);

    • €3.1 million from other activities (€2.4 million first three months 2025);

  • Adjusted YTD EBITDA €21.0 million (€9.6 million first three months 2025);

  • Operating Working Capital at end of Q1 2026 -/-€98.5 million (-/-€180.2 million at end of Q4 2025);

  • Total cash position at end of Q1 2026 was €30.7 million (€95.6 million at end of Q4 2025);

  • The Q1 2026 results include a provision for additional costs as a result of the delayed ramp-up, but do not have an impact on the current guidance;

  • Order book 476 Kton at end of Q1 2026.

For the full release please refer to attached PDF