Roermond, The Netherlands – 28 August 2019. Highlights and Key figures for the first halfyear 2019 are as follows. Reference is made to the PDF attachment for the full Interim 2019 results.

Operational highlights:

  • Contract won for Borssele 5 innovation site;
  • Delivery of monopiles and transition pieces for Triton Knoll and Seamade offshore wind farms;
  • Delivery of monopiles for Borssele 1-4 offshore wind farms;
  • Agreement on refinancing and adjustment of governance structure to apply large companies regime;
  • Total throughput of approximately 94 Kton steel (81 Kton in HY1 2018) 
    • 96% for offshore wind (78% HY1 2018)
    • 4% for offshore oil & gas (22% HY1 2018)

Key figures:

  • Contribution of € 45.5 million (HY 2018: € 45.6 million);
  • EBITDA of € 12.7 million (HY 2018: € 14.0 million after adjustment for IPO related expenses);
  • Revenues of € 170.4 million (HY 2018: € 145.9 million);
  • Operating working capital stood at - € 11.7 million (HY 2018: € 32.7 million; YE 2018: € 14.2 million);
  • Net debt excluding ground lease IFRS 16 of € 14.9 million (HY 2018: € 52.2 million; YE 2018: € 30.4 million);
  • Order book per 27 August 2019 of 300 Kton for 2020 and beyond 
    • 220 Kton signed contracts
    • 80 Kton exclusive negotiations

Post reporting events:

  • Contract wins for Hollandse Kust Zuid (Netherlands; 114 monopiles, 113 Kton) and Vineyard (Massachsetts USA; 84 monopiles, 103 Kton) and announcement of delays at Vineyard affecting Sif’s production- schedule for 2020;
  • Expansion of Maasvlakte 2 Rotterdam from 42 to 62 hectares to offer marshalling services to offshore wind clients; Innovation shipping B.V. ( a DEME Offshore company ) launching customer for October 2019- June 2020 period.

Interim 2019 report