Sif Holding N.V.: Full year 2023 in line with expectations

Investment Program on schedule and within budget

Operational highlights:

• Improving safety performance on 12-month rolling statistics; full-year 2023 LTIF at 8.28 (6.50 in 2022)
• Output of 192 kton (169 kton in 2022); 141 monopiles and primary steel for 182 transition pieces (130 monopiles and primary steel for 126 transition pieces in 2022)
• Contribution to 2,622 MW offshore wind capacity (1,954 MW in 2022) with foundations for amongst others Dogger Bank and Hollandse Kust Noord

• Carbon footprint further reduced through higher compensation from the wind turbine on Sif's premises and ongoing electrification to replace gas
• Marshalling services for Siemens' Hollandse Kust Zuid completed
• Orderbook addition with Baltyk II+III (Equinor/Polenergia) and termination of Empire Wind 2 (Equinor)
• Good progress on the expansion of our manufacturing facilities to increase production to Ø11 meters and 500 kton production capacity

Outlook full-year 2024: factory-integration and start-up of the expanded production facilities in the second half of 2024 will result in lower production output of approximately 165 kton with expectation for adjusted EBITDA at a level of approximately €35 million. After start-up of the new plant, we foresee higher volumes with €135 million EBITDA for 2025 and at least €160 million from 2026.

Press release:
https://sif-group.com/en/investor-relations/download/06e37dec-6342-4e25-8cf2-3c3b659f08a5/siffullyear2023results.pdf

Investor and Press contacts
Fons van Lith
Head of Investor Relations & Corporate Affairs
[e-mail]
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