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Sif has announced full year results for 2019 which show gradually recovery, investments in new services and industry scale- up in 2019. Operational highlights for Sif in 2019 are:
 
  • Contracts won for Akita- Noshiro, Borssele 5, Hollandse Kust Zuid 1-4, Saint Nazaire and Sverdrup;
  • In time and budget completed investment of € 6 million in new build of 2 coating halls;
  • Haliade 12 MW wind turbine at Maasvlakte 2 successfully produced first power;
  • DEME first client for new marshalling services offered by Sif at additionally leased Maasvlakte 2 site;
  • Despite 3 months delay on Borssele 3-4, timely delivery of monopiles and transition pieces for Borssele 1-4, Seamade and Triton Knoll offshore wind farms and Sverdrup parts;
  • Total throughput of approximately 185 Kton of steel (2018: 138 Kton) or 190 monopiles and primary steel for 130 transition pieces
  • 174 Kton (or 94%) for offshore wind
  • 9 Kton (or 5%) for oil & gas
  • 2 Kton (or 1%) for other industries.
Key financial figures in 2019 are:
  • FY 2019 contribution of € 101.5 million (FY 2018 € 74.3 million);
  • FY 2019 EBITDA of € 26.4 million (FY 2018 € 13.3 million)
  • FY 2019 profit attributable to the shareholder € 5.5 million (FY 2018 -€ 2.1 million);
  • Earnings per share 2019 € 0.22 (-€ 0.08 in 2018);
  • Year-end 2019 net working capital € 4.3 million (YE 2018 € 14.2 million);
  • Year-end 2019 net debt pre IFRS 16 is € 21.3 million (YE 2018 € 30.4 million);
  • Order book as of today approximately. 170 Kton for 2020; approx. 100 Kton for 2021 and beyond (Vineyard excluded).
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