Sif Holding (SIFG) Company presentation summary

Market leadership and strategic positioning

• Holds a 30-40% North European market share in offshore wind monopile foundations, with over 3,000 monopiles delivered since 2000.

• Recognized as a strategically critical supplier for Europe's energy transition by the European Commission.

• Supported by robust governmental frameworks and policy tailwinds, including ambitious EU and North Sea targets for offshore wind capacity expansion.

• Maintains a strong pipeline, with ~4,300 foundations expected to reach FID in the next four years and a visible project pipeline through 2035.

• Two state-of-the-art manufacturing facilities provide unmatched scale and logistics, enabling production of up to 500 Kton annually.

Operational excellence and product innovation

• Vertically integrated manufacturing covers rolling, welding, and assembly, with industry-leading throughput of 4-5 monopiles per week.

• Expanded Maasvlakte 2 facility enables production of XXL and TP-less monopiles, supporting next-generation offshore wind projects.

• Product portfolio includes monopiles, transition pieces, TP-less monopiles, pin piles, and jacket legs, tailored to site-specific requirements.

• Deepwater quay and proximity to North Sea projects reduce transport costs and delivery times.

• Capacity now exceeds 2x that of closest European competitors, with continuous process optimization.

Financial performance and capital structure

• Contribution per ton has grown at an 11% CAGR, driven by premium TP-less monopile designs.

• Revenue reached EUR 678m LTM Q1 2026, with adjusted EBITDA of EUR 59m as Maasvlakte 2 ramps up.

• EUR ~350m invested in Maasvlakte 2 expansion, funded through a mix of AFPs, preference shares, rights issue, and loans.

• Negative working capital structure due to client advance payments, normalizing as legacy AFP contracts unwind.

• Net debt (excl. IFRS 16) stands at EUR 60m, with a strong liquidity runway beyond the start-up of the Exclusive 190 Kton Project.