Strategic highlights:

Production in new factory ramping-up to reach planned potential in second quarter 2026;
Order book for 2026 underpins reiteration of outlook;
Successful completion of Empire Wind 1 and loadouts for Ecowende projects;
Longer term ambitions of UK and EU governments remain healthy for offshore wind as contributor to energy independence.

Operational highlights:

Safety performance: full-year 2025 LTIF at 5.37 (0.79 in 2024);
Sickness leave: full-year 2025 at 7.7% (7.8% in 2024);
Output of 176 kton (158 kton in 2024); 97 monopiles and primary steel for 101 transition pieces (89 monopiles and primary steel for 109 transition pieces in 2024) will contribute to the realization of 1,153 MW offshore wind capacity (1,297 MW in 2024);
Carbon footprint scope 1 and 2 increased due to volume increase and lower output from owned wind turbine.

Financial highlights:

In € million	FY 2025	FY 2024	change YOY
Contribution	187.1	146.5	+27.7%
Adjusted EBITDA	48.0	38.4	+25.0%
Earnings after tax (profit attributable to the shareholders)	(36.7)	1.2
EPS in €	(1.32)	(0.04)
Year-end net working capital	(180.2)	(178.5)	-1.0%
Year-end cash	95.6	113.8	-16%
Adjusted ROACE in %	nm	57.7
Production in kton	176	158	+11.4%
Contribution to global offshore wind capacity in MW	1,153	1,297	-11.1%
LTIF in injuries per mln working hours	5.37	0.79

Order book in kton (status 13 March 2026)	For 2026 & beyond
Contracted	343
Exclusive negotiations	190
Total	533

Outlook:

Order book strengthened with award of 48 pin piles for project Amprion (Balwin 1 and 2);
Outlook for full-year 2026 EBITDA of at least €135 million reiterated.

For the full release refer to the PDF attachment

Ramp-up and performance on track; new facility reaching potential to deliver orderbook