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Dutch offshore wind foundation manufacturer, Sif Group, is facing a delay in the ramp-up of production at its new monopile production facility at Maasvlakte 2 in Rotterdam and expects to achieve this in the first half of 2026, instead of this year.
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In its half-year results for 2025, the company reported a revenue of EUR 258 million, up from EUR 231 million in the first half of 2024, and an adjusted EBITDA of EUR 12.9 million, compared to EUR 26.1 million in the first half of 2024.
Sif has also further revised its 2025 EBITDA guidance to EUR 45 million, which was already adjusted earlier this year to between EUR 90 million and EUR 120 million, from the initial EUR 135 million. The latter is now the provisional minimum adjusted EBITDA guidance for 2026, when the new production facility is expected to fully contribute.
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“Rather than focusing on the alternative of short-term EBITDA maximisation, our focus now is achieving robust and stable operations, and taking the time needed to implement the right industrialisation measures. As a result, we are adjusting our 2025 adjusted EBITDA guidance to EUR 45m”, Sif states in the H1 2025 report.
The company reiterated the mid-term annualised adjusted EBITDA run rate target of at least EUR 160 million as the goal for 2026. “Achieving the required output to underpin the adjusted EBITDA run rate is expected to shift into the first half of 2026” , Sif’s report reads.
“The original business plan factored in that there would be a steep ramp-up in the new Maasvlakte 2 facility during the first half year of 2025 to reach the anticipated production levels from the third quarter onwards. However, during this period we have learnt that the training of our new workforce, as well as the further stabilisation of equipment and implementing improved working procedures for the new manufacturing facilities require significantly more time than initially anticipated”, said Fred van Beers , CEO of Sif.