| Work Detail |
Delays to new equipment blamed for low production at Maasvlakte site The ramp-up of production at Sif’s new Maasvlakte monopile factory that opened in the Netherlands last year is running behind schedule, the manufacturer has revealed. Sif chief executive Fred van Beers said efforts to reach the facility’s design output of four bases per week were taking somewhat more time than was expected due to the speed of bringing new equipment online and staff gaining experience. Current volumes are at between two and three monopiles per week although all orderbook projects are expected to be completed in time for installation, according to Sif’s 2024 financial results published this week. The company has subsequently revised its outlook for full-year 2025 adjusted EBITDA to €90m-€120m as some production planned for this year is shifted into 2026. We can look back with satisfaction at the very disciplined execution of the expansion of our manufacturing facilities and on the recruitment of motivated and committed staff under tight labour market circumstances, said van Beers. All three production lines are now in use and the first monopiles are being completed, although not yet fully at the pace we had hoped to see at this stage. The company recorded a gross profit of €80.4m (18.7% of total revenues) in 2024 compared to €81.9m in 2023. Total EBIDTA of €23.7m in 2024 was affected by one-off expenses of €14.7m directly related to the factory expansion project. Sif manufactured 89 monopiles and 109 transition pieces in 2024 to deliver foundations for approximately 1.3GW offshore wind. This compares to 2.6GW in 2023. |
