Improving safety performance on 12-month rolling statistics; full-year 2023 LTIF at 8.28 (6.50 in 2022)
Output of 192 kton (169 kton in 2022); 141 monopiles and primary steel for 182 transition pieces (130 monopiles and primary steel for 126 transition pieces in 2022)
Contribution to 2,622 MW offshore wind capacity (1,954 MW in 2022) with foundations for amongst others Dogger Bank and Hollandse Kust Noord
Carbon footprint further reduced through higher compensation from the wind turbine on Sif's premises and ongoing electrification to replace gas
Marshalling services for Siemens' Hollandse Kust Zuid completed
Orderbook addition with Baltyk II+III (Equinor/Polenergia) and termination of Empire Wind 2 (Equinor)
Good progress on the expansion of our manufacturing facilities to increase production to Ø11 meters and 500 kton production capacity
Financial highlights:
In € million
FY 2023
FY 2022
change YOY
Contribution1
149.0
130.5
+14.2%
Adjusted EBITDA[1]
42.2
41.8
+1.0%
Earnings after tax (profit attributable to the shareholders)
10.9
7.2
+51.4%
EPS in €
0.32
0.28
+14.3%
Year-end net working capital1
(133.4)
(81.5)
+63.7%
Year-end cash
131.4
89.8
46.3%
Adjusted ROACE1 in %
110.7
43.6
+153.9%
Production in kton
192
169
+13.6%
Contribution to global offshore wind capacity in MW
2,622
1,954
+34.2%
LTIF in injuries per mln working hours
8.28
6.50
+27.4%
Orderbook in kton (status 14 March 2024)
For 2024
For 2025 & beyond
Total
Contracted
165
250
415
Exclusive negotiations
92
92
Total
165
342
507
Outlook full-year 2024: factory-integration and start-up of the expanded production facilities in the second half of 2024 will result in lower production output of approximately 165 kton with expectation for adjusted EBITDA at a level of approximately €35 million. After start-up of the new plant, we foresee higher volumes with €135 million EBITDA for 2025 and at least €160 million from 2026.
Reference is made to attached PDF for the full release
[1]Reference is made to section 'Definition and Explanation of use of non-IFRS financial measures' and 'Reconciliation of non-IFRS financial measures' for the definition and explanation of use, and reconciliation
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Sif Holding NV published this content on
15 March 2024 and is solely responsible for the information contained therein. Distributed by
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15 March 2024 06:04:03 UTC.
Sif Holding N.V. specializes in the design and manufacturing of components used in offshore foundations for wind farms projects. The group primarily offers monopiles, transition pieces and piles that are used to anchor jacket foundations in the seabed for offshore wind turbines.
At the end of 2023, the group had 2 production sites located in the Netherlands.
Net sales are distributed geographically as follows: the Netherlands (3.4%), the United Kingdom (61%), Germany (19.6%), France (10.4%), Norway (1.8%), Belgium (1.1%), European Union (0.4%) the United States (1.9%) and other (0.4%).
SIF HOLDING N.V. 
