Fabricator Sif Group reported normalised EBITDA up 39% at €54.9m in the third quarter of 2016, compared with the same period last year, buoyed by a strong order book for offshore wind.
The Dutch company said its contribution – revenue minus cost of sales – was €98.6m compared with €69.6m last year.
Contribution is considered the “leading indicator of financial performance”, Sif said.
The order book for offshore wind is full for 2016 and overall production in the year is projected to be 183 kilo tons.
For 2017 and the first quarter of 2018 the order book stands at 118 ktons, with 160 ktons under negotiation.
The company said its expansion plans in Rotterdam and Roermond are on schedule.
The Maasvlakte 2 assembly facility in Rotterdam will increase capacity to 300 ktons a year when it is fully operational in 2017.
The first monopiles were assembled in September and the first load out is scheduled before the end of the year.
Sif Group chief executive Jan Bruggenthijs said: “As anticipated, the production for the offshore wind business continued to run at high capacity throughout the third quarter.”
Image: Sif Group
