Sif chief executive Fred van Beers (pictured) has warned that short-term activity in the offshore wind sector has reached a “very low level” despite strong long-term ambitions for the industry.
Van Beers said the slowdown is creating challenges for the European supply chain after companies invested heavily in capacity based on government ambitions and developer demand.
He added that while the long-term outlook remains healthy, project timelines remain uncertain with a 190kton project in Sif’s order book potentially facing delays depending on a customer’s final investment decision.
“Although long term perspectives are healthy, short-term activity in offshore wind has reached a very low level,” said Fred van Beers, chief executive of Sif.
“This leads to big challenges as the EU supply chain has made large investments over the last years based on high governmental ambitions and related developer’s demand.”
Sif reported adjusted EBITDA of €48.0m for 2025, up from €38.4m in 2024, as contribution increased 27.7% year-on-year to €187.1m.
The company manufactured 176kton of steel in 2025, including 97 monopiles and primary steel for 101 transition pieces that will contribute to the potential realisation of 1,153MW of offshore wind capacity.
Profit attributable to shareholders was minus €36.7m compared with €1.2m in 2024, while earnings per share came in at minus €1.32.
Sif reiterated its outlook for full-year 2026 adjusted EBITDA of at least €135m, supported by a contracted order book of 343kton with a further 190kton in exclusive negotiations.
Separately, Sif said van Beers will retire on 1 August 2026 after eight years in the role.
The company announced that Koen Bogers will join Sif on 8 May and take over as chief executive and chairman of the executive board on 1 August 2026 following approval at the annual general meeting.
Bogers previously served as chief executive of Stedin between 2021 and 2025 and earlier held senior management roles at Siemens and Stork GLT.
Van Beers will remain in the role until 31 July 2026 before moving into an advisory position at the company until early 2027 to support the leadership transition.
“I am grateful that the supervisory board, Koen and I have agreed on a controlled hand-over and transition process allowing us to remain fully focussed on our customers while ensuring strong engagement with our people and external stakeholders,” said Van Beers.