Full year 2024 in line with expectations

19 Mar 2025 07:00 CET

Issuer

SIF HOLDING NV

Strategic highlights:

  • Expansion of manufacturing facilities completed, production ramping-up;
  • Additional land leased for storage and marshalling activities.

Operational highlights:

  • Improved safety performance: full-year 2024 LTIF at 0.78 (8.28 in 2023);
  • Sickness leave: full-year 2024 at 7.75% (6.86% in 2023);
  • Output of 158 kton (192 kton in 2023); 89 monopiles and primary steel for 109 transition pieces (141 monopiles and primary steel for 182 transition pieces in 2023) will contribute to the realization of 1,297 MW offshore wind capacity (2,622 MW in 2023);
  • Carbon footprint scope 1 and 2 further decreased through ongoing electrification and use of biodiesel for inland shipping.

Financial highlights:

In € million

FY 2024

FY 2023

change YOY

Contribution

146.5

149.0

-1.7%

Adjusted EBITDA

38.4

42.2

-9.0%

Earnings after tax (profit attributable to the shareholders)

1.2

10.9

-89.0%

EPS in €

(0.04)

0.32

-112.5%

Year-end net working capital

(178.5)

(133.1)

+34.1%

Year-end cash

113.8

131.4

-13.4%

Adjusted ROACE in %

57.7

110.7

-47.9%

Production in kton

158

192

-17.7%

Contribution to global offshore wind capacity in MW

1,297

2,622

-50.5%

LTIF in injuries per mln working hours

0.78

8.28

-90.6%

Order book in kton (status 19 March 2025)

For 2025 & beyond

Contracted

508

Exclusive negotiations

 

Total

508

Outlook:

  • Order book strengthened with award of East Anglia TWO (Scottish Power) and transition pieces for Baltyk II+III (Equinor/Polenergia).
  • Outlook for full-year 2025 revised to adjusted EBITDA of €90-120 million with some production shifting into 2026 due to the ramp-up taking some more time than originally anticipated. Outlook for 2026 reiterated at a level of at least €160 million.


 

Source

Sif Holding N.V.

Provider

Presspage

Company Name

SIF HOLDING

ISIN

NL0011660485

Symbol

SIFG

Market

Euronext