Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Sif Holding N.V. is a Dutch company specializing in the manufacture and delivery of offshore foundations, primarily for wind farms and the oil & gas sector. Founded in 1948 and headquartered in Roermond, Netherlands, it produces key components such as monopiles, transition pieces, pin piles, and jacket tubulars, alongside comprehensive services including engineering, design, corrosion protection, marshalling, and logistics. Operating highly automated facilities in Roermond and Rotterdam's Maasvlakte 2, Sif Holding N.V. leverages over 75 years of expertise in rolling and welding heavy steel plates to support the energy transition. The company has contributed to nearly 55 offshore wind projects, powering more than 22.7 GW of capacity and holding a 35-40% market share through 2024, mainly in Northwestern Europe with growing global presence. Its Wind segment generates the majority of revenue, emphasizing innovation, sustainability through emission-reducing techniques like steel reuse, and close stakeholder collaboration to deliver reliable foundation solutions on time and within budget. With around 677-845 employees, Sif Holding N.V. plays a pivotal role in advancing renewable energy infrastructure and Europe's energy security.
The business is unprofitable at the operating level (-6.95% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 39.2%, still solid. Margins contracted 7.9pp, which offsets some of the top-line progress.
ROIC dropped from 0.56% to -7.14%, capital efficiency is deteriorating. Net debt of €143M represents 31.6x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€597M
▲ +39.2% YoY
Net Income (TTM)
-€34M
▼ -2308.8% YoY
Op. Margin
-6.95%
▼ -7.9pp YoY
ROIC
-7.14%
▼ -7.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€5M
▲ +104.4% YoY
Op. Cash Flow (TTM)
€29M
▼ -19.6% YoY
Net Debt
€143M
Cash & Equiv.
€96M
3Y CAGR: +16.8%
3Y CAGR: -46.8%
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