Production initiative at Sif's expanded Monopile Mega-Factory postponed until the initial half of 2026

The Sif Group, a Dutch foundation manufacturer for the offshore wind industry, has announced changes to its production schedule and financial projections, as the European offshore wind market undergoes shifts in tender criteria, grid congestion, and high electricity prices.

In a recent statement, the CEO of Sif, Fred van Beers, acknowledged a delay in ramping up production at the new Maasvlakte 2 facility in Rotterdam. The expected date for full production contribution from the new facility is now the first half of 2026, resulting in lower output in 2025 than originally anticipated.

Despite this delay, Sif remains confident in the medium to long-term outlook for the European offshore wind market. The company reported a revenue of EUR 258 million in the first half of 2025, up from EUR 231 million in the same period last year. This growth is attributed to an exclusive deal for a project close to 200 kton, mainly in 2027, which has increased Sif's order book to 625 kton.

However, Sif has revised its 2025 EBITDA guidance to EUR 45 million, down from the initial EUR 60 million. The adjusted EBITDA for the first half of 2025 was EUR 12.9 million, compared to EUR 26.1 million in the first half of 2024.

In response to the market changes, Sif is adjusting its focus from short-term EBITDA maximization to achieving robust and stable operations and implementing the right industrialization measures. The company has reiterated a mid-term annualized adjusted EBITDA run rate target of at least EUR 160 million as the goal for 2026.

The need for energy transition and energy independence in the EU remains unchanged. Various governments have altered their ambitions for offshore wind to a more realistic level and are adjusting tender procedures and qualifications to match market conditions and preferences. Firm contract negotiations for the exclusive deal are expected to take until spring 2023.

Sif expects a short-term slowdown in offshore wind project development due to non-market conform tender criteria, grid congestion, and high electricity prices. However, the demand for the period after 2027 looks promising, but depends on the success of tender rounds.

Despite the challenges, Sif remains optimistic about its future in the offshore wind industry. The company continues to deliver foundations for projects, such as the Empire Wind 1 project in New York, within the specifications to meet the installation window of the project.

offshoreWIND.biz, a platform read by thousands of offshore wind professionals every day, is closely monitoring the developments within the industry. The Sif Group's adjustments and focus on long-term growth are reflective of the changing landscape of the offshore wind market.

Production initiative at Sif's expanded Monopile Mega-Factory postponed until the initial half of 2026