Offshore wind boosts Sif, but also detracts
The profit margin is reduced by half at foundation producer Sif, where offshore wind dominated the first half of 2019 for good and bad, and oil and gas activities came to a halt.
Dutch foundation manufacturer Sif saw no shortage of work in the first six months of the year. In the second quarter especially, when delivery of monopiles and TPs was initiated for Seamade, Triton Knoll as well as domestic offshore wind projects Borssele 1 through 4. This was evident both at factories, where 94 kton of steel was produced against 81 kton in the same period last year, and on the top line, which rose 17 percent to EUR 170 million.
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