One lost time safety- incident in Q3 2023: YTD eight LTI (seven in first nine months 2022);
Expansion project on schedule: successful tests on longitudinal welding training machine;
Successful completion of rights issue with 98.9% take-up of new shares;
Throughput of 50 Kton brings Year to Date production to 144 Kton (129 Kton Q3 2022);
Load-out of Dogger bank A transition pieces continues, manufacturing of Dogger bank B monopiles close to completion, manufacturing for Dogger bank C transition pieces started;
He Dreiht transition pieces completed per end of Q3 2023;
Effects ofNew York State Energy Research and Development Authority'sdecision on Empire Wind projects under investigation by Empire Wind partners BP and Equinor;
License agreement with GS Entec (Korea) finalized;
Annabelle Vos appointed Supervisory Board member.
Key figures:
Year to Date (YTD)[1]contribution increased to €106.2 million (€93.3 million first nine months 2022)
€93.0 million from production of foundations (€79.2 million first 9 months 2022);
€5.8 million from marshalling activities (€8.4 million first nine months 2022);
€7.4 million from other activities, including engineering (€5.7 million first nine months 2022);
Adjusted EBITDA €28.5 million (€28.9 million first nine months 2022);
Net Working Capital at end of Q3 2023 -/-€59.9 million (-/-€43.4 million at end of Q3 2022 and -/-€74.8 million at end of Q2 2023);
Total cash position at end of Q3 2023 €124.4 million (€61.2 million at end of Q3 2022 and €103.6 million at end of Q2 2023) with main inflows in Q3 relating to financing of expansion project:
€50 million from rights issue July 2023;
€18 million from AFP Ecowende in July 2023;
€19.5 million from AFP Empire Wind in September 2023;
Order book 56 Kton for Q4 2023, and 668 Kton for 2024 and beyond.
In € million
YTD 2023
YTD 2022
Change
YoY
Q3 2023
Q3 2022
Contribution
106.2
93.3
+13.8%
34.8
29.8
EBITDA adjusted
28.5
28.9
-1.4%
7.1
7.8
EBITDA reported
24.4
25.5
-4.3%
5.6
6.4
Kton production
144
129
+11.6%
50
40
Order book in Kton
End of September 2023 for remainder 2023
End of September 2023 for 2024 and beyond
Contracted
56
358
Exclusive negotiation
0
310
Total for the period
56
668
Reference is made to the PDF attachment for the full release
[1]Year-to-date (YTD) refers to the period 1 January- 30 September
Sif Holding NV published this content on 03 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 November 2023 06:04:06 UTC.
Sif Holding N.V. specializes in the design and manufacturing of components used in offshore foundations for wind farms projects. The group primarily offers monopiles, transition pieces and piles that are used to anchor jacket foundations in the seabed for offshore wind turbines.
At the end of 2023, the group had 2 production sites located in the Netherlands.
Net sales are distributed geographically as follows: the Netherlands (3.4%), the United Kingdom (61%), Germany (19.6%), France (10.4%), Norway (1.8%), Belgium (1.1%), European Union (0.4%) the United States (1.9%) and other (0.4%).
SIF HOLDING N.V. 
