Monopile manufacturer Sif booked a solid first half of the year despite challenges including higher energy costs.
The Dutch company said EBITDA was reported at €19.1m for the six months, down marginally on the €20.2m in the year-ago period. This was due to energy costs, increased sickness-leave and lower efficiency as a consequence of a tighter labour market.
However, once adjusted for €2 million for non-recurring expenses relating to the strategic plans to expand manufacturing facilities, the company recored an EBITDA of €21.1 million compared to €20.6 million for the first half of 2021.
During the report period, Sif participated in offshore wind projects resulting in 803MW new capacity.
This included the final deliveries of TP-less monopiles for Hollandse Kust Zuid.
It added that the monopiles for Dogger Bank A are now really for load-out, and the production for monopiles at Hollandse Kust Zuid has now started.
The board also reported that there had been a gas explosion on 7 August 2022, causing damage to equipment and inventories but no physical injuries and limited down-time.
Chief executive Fred van Beers said the medium term outlook is positive.
“Sif’s order book for the period until 2024 is filled with sound projects for amongst others Hollandse Kust Noord, Dogger Bank B, Dogger Bank C and He Dreiht and with some smaller diameter offshore wind projects that partly fill our production lines for pin piles and smaller tubulars,” he said.
“Our capacity for 2023 is fully booked and we aim for a production output of at least 200 Kton. Tendering activity for projects in 2024 remains high including projects for our planned production expansion.”