SIF : Better than expected profit delivery
>2023 production below but profitability above our expectation - Production: 192 kton (AAOB 196 kt; 169kt in 2022); 141 monopiles and 182 transition pieces (130 monopiles and 126 transition pieces in 2022)Contribution margin up 14% y-o-y to EUR 149.0m (AAOB EUR 146.2m; 2022: EUR 130.5m)Adjusted EBITDA up 1% to EUR 42.4m (AAOB EUR 39.8m, 2022: EUR 41.5m)Reported net earnings up 51% to EUR 10.9m (AAOB adj. Net results EUR 9.2m; 2022 EUR 7.2m - adjusted EU...Sif Holding NV is a company based in the Netherlands, which provides steel foundations to the offshore wind, oil and gas markets. The Company operates in two segments: the Offshore Wind segment focuses on manufacturing monopiles for offshore wind farms. Monopiles consist of a tubular structure, typically with conical, and are hammered into the seabed. The Oil and Gas segment specializes in the production of steel tubular parts for the offshore oil and gas industries, with focus on jackets and related structures. The Company focuses on the North Sea region and also manufactures parts for machines and civil engineering projects, such as tubulars used in the Maeslant storm surge barrier, tubular structures used in the London Eye, and foundations for jetties, which are mooring platforms for ships.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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