Dutch fabricator Sif Holding has made a strong start to 2017, with its contribution up 21.4% in the first quarter of 2017 rising to €37.5m from €30.9m in the same period last year.
Contribution is the company’s revenue minus raw material costs, subcontracted work, logistic and other external charges.
Earnings before tax also rose slightly to €17.6m from €17.3m in the period.
Earnings would have been higher but for longer than anticipated maintenance at its Roermond facility and start-up expenses in both Roermond and Rotterdam resulting in higher costs and impacting production in the first two months of the year, the company said.
In March all equipment was back running at full schedule, it added.
The company produced 57 kilo tonnes in the first three months of the year, compared with 46 kilo tonnes in the period in 2016.
Production for the year is estimated at 210 kilo tonnes, while the order book for 2018 is 97 kilo tonnes.
Sif chief executive Jan Bruggenthijs said: “Longer-term projections for the market for offshore wind look healthy with annual growth of more than 5%.”
Image: Sif
