Sif Holding reported higher production and revenue in 2025 as operations at its new factory continue to ramp up, while the company also announced a planned CEO transition.
The company recorded a contribution of € 187.1 million in 2025, compared with € 146.5 million in 2024. Adjusted EBITDA increased to € 48.0 million from € 38.4 million in the previous year. Earnings after tax were a loss of € 36.7 million, compared with a profit of € 1.2 million in 2024.
Production reached 176 kton in 2025, up from 158 kton in 2024. The output included 97 monopiles and primary steel for 101 transition pieces. These components are expected to contribute to the installation of 1,153 MW of offshore wind capacity, compared with 1,297 MW in 2024.
Safety performance declined during the year, with the lost time injury frequency (LTIF) increasing to 5.37 injuries per million working hours from 0.79 in 2024. Sickness leave was 7.7%, broadly stable compared with 7.8% in the previous year. The company’s carbon footprint for scope 1 and 2 emissions increased due to higher production volumes and lower output from its own wind turbine.
Operational milestones during the year included the completion of monopiles for the Empire Wind 1 project and loadouts for the Ecowende offshore wind projects.
The order book for 2026 and beyond stood at 533 kton as of 13 March 2026, including 343 kton contracted and 190 kton under exclusive negotiations. The order pipeline was strengthened by the award of 48 pin piles for the BalWin1 and BalWin2 projects developed by Amprion.
Sif stated that production at its new factory is ramping up and is expected to reach its planned capacity during the second quarter of 2026. The company reiterated its outlook for full-year 2026 EBITDA of at least € 135 million.
Separately, the supervisory board announced its intention to appoint Koen Bogers as executive board member and chief executive officer (CEO) from 1 August 2026. Fred van Beers is expected to remain in the role until 31 July 2026 before handing over to Bogers. Bogers previously served as chief executive officer of Stedin between 2021 and 2025 and earlier held senior roles at Siemens and Stork GLT.
The proposed board changes will be presented for approval at the annual general meeting scheduled for 8 May 2026 in Rotterdam.
