Name: Sif Group
Address: Mijnheerkensweg 33, Roermond, 6041 TA, The Netherlands
Price range: $

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.

Year-to-date (YTD) refers to the period 1 January- 30 September

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