Sif Holding NV
AEX:SIFG
Sif Holding NV
Sif Holding NV engages in the manufacturing of metal structures, parts of metal structures, pipes, pipe structures, components for the offshore industry and foundation piles for offshore wind farms. The company is headquartered in Roermond, Limburg and currently employs 548 full-time employees. The company went IPO on 2016-05-12. The firm operates in two segments: the Offshore Wind segment focuses on manufacturing monopiles for offshore wind farms. Monopiles consist of a tubular structure, typically with conical, and are hammered into the seabed. The Oil and Gas segment specializes in the production of steel tubular parts for the offshore oil and gas industries, with focus on jackets and related structures. The firm focuses on the North Sea region and also manufactures parts for machines and civil engineering projects, such as tubulars used in the Maeslant storm surge barrier, tubular structures used in the London Eye, and foundations for jetties, which are mooring platforms for ships.
Sif Holding NV engages in the manufacturing of metal structures, parts of metal structures, pipes, pipe structures, components for the offshore industry and foundation piles for offshore wind farms. The company is headquartered in Roermond, Limburg and currently employs 548 full-time employees. The company went IPO on 2016-05-12. The firm operates in two segments: the Offshore Wind segment focuses on manufacturing monopiles for offshore wind farms. Monopiles consist of a tubular structure, typically with conical, and are hammered into the seabed. The Oil and Gas segment specializes in the production of steel tubular parts for the offshore oil and gas industries, with focus on jackets and related structures. The firm focuses on the North Sea region and also manufactures parts for machines and civil engineering projects, such as tubulars used in the Maeslant storm surge barrier, tubular structures used in the London Eye, and foundations for jetties, which are mooring platforms for ships.
Guidance Slashed: Sif cut its 2025 adjusted EBITDA guidance from a minimum of EUR 90–120 million to EUR 45 million due to slower-than-expected factory ramp-up.
Ramp-Up Delays: The Maasvlakte plant ramp-up is running 6–12 months behind plan, with persistent equipment and workforce stability issues.
Strategic Shift: Management chose to prioritize long-term production stability and customer delivery schedules over chasing short-term profits.
2026–2027 Outlook: Guidance for at least EUR 160 million annualized EBITDA remains intact for the mid-term; 2026 is guided to a minimum of EUR 135 million.
Strong Order Book: The order book stands at 625 kilotons through 2028, including a new 200 kiloton exclusive contract for 2027.
Market Challenges: Offshore wind markets remain tough with postponed/cancelled deals, but Sif highlights positive long-term demand and resilience to Chinese competition.
No Immediate Equity Need: Management stated there's no current need for new equity, and financing is described as stable and flexible.
