Sif Group has revealed that the ramp-up of production at its new Maasvlakte monopile factory in the Netherlands is behind schedule. The factory, which opened last year, was initially expected to reach a design output of four monopiles per week. However, Sif’s CEO Fred van Beers explained that efforts to achieve this target are “taking somewhat more time than was expected” due to the time required to bring new equipment online and for staff to gain sufficient experience.
Currently, the factory is producing between two and three monopiles per week, although Sif confirmed that all projects in its order book are expected to be completed in time for installation. As a result of the delays, the company has revised its 2025 adjusted EBITDA outlook to a range of €90 million to €120 million, as some production planned for 2025 will be pushed into 2026.
Van Beers commented: “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. 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.”
For 2024, Sif reported a gross profit of €80.4 million, which accounted for 18.7% of total revenues, a slight decrease from €81.9 million in 2023. The company also posted a total EBITDA of €23.7 million for 2024, impacted by one-off expenses of €14.7 million related to the factory expansion. Sif manufactured 89 monopiles and 109 transition pieces in 2024, supporting offshore wind projects totaling around 1.3GW, down from 2.6GW in 2023.
