Dutch manufacturer Sif has increased its EBITDA for the first half of the year by over 52% thanks to rising demand from offshore wind projects.
EBITDA rose to €36.9m driven by high production volumes throughout the period, with utilisation levels for offshore wind reaching maximum capacity, the foundation manufacturer said.
The offshore wind market is developing rapidly and the company is witnessing increasing demand compared to previous market projections, it said.
Sif is expanding its new production facility in the Port of Rotterdam, which will increase its maximum capacity to 300 kilotons from 225 over the next year.
The production of the first monopiles is expected to start in the second half of September 2016 and the first load-out will take place in the last quarter of this year.
“The high asset utilization realized in the first quarter continued throughout the second quarter, resulting in a very strong operational result for the first half year,” chief executive Jan Bruggenthijs said.
“During the second half of the year, maintenance to the production lines is scheduled, which will have a downward effect on the production volumes to be realized.”
Image: Sif
