Dutch foundations manufacturer impacted by delayed projects

The machines have been on pause for a little longer than is usual for Dutch foundations manufacturer Sif Group. The company has confidence in a Q2 improvement.

Photo: DanTysk

The first quarter has not been a particularly profitable one for foundations manufacturer Sif Group, nor does the second quarter look promising.

The company, which is Northern Europe's largest manufacturer of foundations for offshore wind turbines, emerged from the first quarter with EBITDA of EUR 10.1 million. This is a decline of 17 percent relative to the past quarter and is attributed to a 21.2 percent production decline.

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