Dutch manufacturer Sif has increased its EBITDA for the first quarter of the year by over 58% thanks to rising orders for offshore wind projects.
EBITDA rose to €16.9m as utilisation levels reached maximum capacity throughout the quarter, compared with substantially lower levels a year ago, the foundation manufacturer said.
Offshore wind now contributes 86% of Sif’s business, compared with 68% a year ago, and its order book for the technology is full for 2016.
The company 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.
“On the 12 May, Sif proudly announced the successful listing of Sif at the Euronext Stock Exchange in Amsterdam,” Sif chief executive Jan Bruggenthijs said. “Being a public company, we will be in the position to further strengthen our business profile and gain additional financial flexibility to support our growth ambitions through access to capital markets.”
Image: Sif
