Dutch offshore wind component manufacturer Sif has posted a 20% year-on-year increase in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the first quarter of 2025, supported by improved production output and steady order execution.
The company reported an adjusted EBITDA of €9.6 million for the quarter, up from €8 million in the same period last year. Sif reaffirmed its full-year guidance, projecting adjusted EBITDA of between €90 million and €120 million.
Sif’s first-quarter production included monopiles and transition pieces for the Empire Wind 1 project and sections for Ecowende, along with smaller components for offshore structures such as gas jackets and substations.
“Our main challenges for the first quarter of 2025 were the ramp-up of our newly expanded manufacturing facilities at Maasvlakte 2 Rotterdam and the suppletion of our orderbook for the post-2026 period,” said CEO Fred van Beers. “It pleases me that we have succeeded in gradually scaling up our production.”
By the end of the quarter, production at the new facility reached a rate of two to three monopiles per week, though this was roughly three months behind the initial schedule. Van Beers noted that operations at the Roermond plant proceeded on schedule and that margins from the existing order book remained on target.
“The factory and production processes at the Maasvlakte have reached the required stability and our focus now is to further increase output whilst remaining focused on safety and quality,” he added.
Sif is currently continuing production for Empire Wind 1 and Ecowende, with upcoming manufacturing scheduled for the Baltyk 2 and 3 offshore wind projects.
While the U.S.-based Empire Wind 1 project, led by Equinor, recently saw construction paused due to a directive from the administration of President Donald Trump, Sif confirmed that its contracted work on monopiles and transition pieces remains ongoing.
“While offshore construction works for Empire Wind 1 have been halted, the manufacturing of monopiles and transition pieces and their storage continue as per our client Equinor’s contract,” van Beers said.
Looking ahead, the company expressed confidence in achieving its long-term earnings goals. “Our order book for 2026 and the present progress on efficiency make us confident of achieving the adjusted EBITDA projection of at least €160 million in 2026,” van Beers stated.
