SIF Full Year 2017 Results

16 March 2018

Operational highlights Q4:

Continued strong safety performance resulting in LTIF of 1.49 for FY 2017 (2.83 in 2016)

Production of monopiles and transition pieces for Hohe See, Albatros, Borwin 3, Trianel and Norther offshore wind farms

Delivery of pin piles for Peregrino jacket foundation

New location at Rotterdam (Maasvlakte 2) running at full capacity

Total throughput of approximately 66 Kton of steel (Q4 2016: 49 Kton) results in FY 2017 production of 232 Kton (FY 2016: 191 Kton)

o    208 Kton (or 90%) for offshore wind

o    24 Kton (or 10%) for oil & gas

Key figures Q4 and FY2017:

Q4 contribution of € 30.9 million (Q4 2016: € 30.9 million) results in FY 2017 contribution of € 135.6 million (FY 2016: € 129.5 million)

Q4 normalized EBITDA of € 12.2 million (Q4 2016: € 10.5 million) results in FY 2017 normalized EBITDA of € 57.1 million (FY 2016: € 65.4 million);  

FY 2017 profit attributable to the shareholder € 30.8 million (FY 2016: € 37.4 million);

Earnings per share 2017 € 1.21 (€ 1.47 in 2016);

Dividend proposal € 0.30 in cash per share (€ 0.37 for 2016);

Year-end 2017 net working capital € 7.1 million (YE 2016: € 8.3 million)

Year-end 2017 net debt € 25.1 million (YE 2016: € 42.0 million)

Order book 115 Kton signed contracts and 70 Kton exclusive negotiations for 2018; 60 Kton signed contracts for 2019