Production of Sif's monopile mega-factory will be fully operational in the first half of 2026, experiencing a setback.

In a recent announcement, Sif Group, a leading manufacturer of offshore wind foundations, has shared updates on its operations and financial projections.

The Dutch company's order book has seen a significant boost, reaching 625 kton, following a project's transition from preferred supplier status to exclusive negotiations, named the "American Manganese Project." The details of this exclusive deal involve 200 kton of production, primarily in 2027. Firm contract negotiations on this project are expected to extend until spring next year.

Despite the positive news, Sif Group has revealed a delay in the ramp-up of production at its new monopile production facility at Maasvlakte 2 in Rotterdam. The company now expects to achieve this in the first half of 2026, instead of this year. This delay will result in lower output in 2025 than originally anticipated.

The delay is attributed to the need for more time for the training of the new workforce, stabilisation of equipment, and implementation of improved working procedures for the new manufacturing facilities.

In the interim, Sif Group expects a short-term slowdown in offshore wind project development. This slowdown is due to non-market conform tender criteria, grid congestion, and prices for electricity. However, the need for energy transition and energy independence in the EU remains unchanged, and Sif sees this reflected in tender activity for projects from mid-2028 onwards.

In its half-year results for 2025, Sif reported a revenue of EUR 258 million, up from EUR 231 million in the first half of 2024. Despite the delay in the ramp-up of production, the company's 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 light of these figures, Sif has revised its 2025 EBITDA guidance to EUR 45 million.

Looking ahead, Sif has reiterated its mid-term annualised adjusted EBITDA run rate target of at least EUR 160 million as the goal for 2026. The provisional minimum adjusted EBITDA guidance for 2026, when the new production facility is expected to fully contribute, is the initial EUR 135 million from earlier this year.

Sif remains confident in the medium to long-term outlook for the European offshore wind market. Various governments have altered their ambitions for offshore wind to a more realistic level and are adjusting tender procedures to match market conditions and preferences.

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Despite the current challenges, Sif Group has demonstrated resilience and adaptability, delivering foundations for the Empire Wind 1 project in New York within the specified timeframe to meet the installation window of the project. The company continues to focus on its long-term goals and remains optimistic about the demand for offshore wind projects beyond 2027, subject to the success of tender rounds.