Operational highlights:

                   Contract won for Borssele 3&4; financial close 28 June 2018

                   Contract won for Tyra jacket components

                   Delivery of monopiles and transition pieces for Hohe See and Borkum West 2 (Trianel) offshore wind farms

                   Delivery of pin piles for Johan Sverdrup and Peregrino jacket foundations

                   Extensive maintenance program and layout adjustments during period of low utilization

                   Total throughput of approximately 81 Kton steel (108 Kton in HY1 2017)

  • 78% for offshore wind (91% HY1 2017)
  • 22% for offshore oil & gas (9% HY1 2017)

Key figures:

                   Contribution of € 45.6 million (HY 2017: € 74.4 million)

                   EBITDA adjusted for IPO costs reached € 14.0 million (HY 2017: € 33.7 million)

                   Revenue reached € 145.9 million (HY 2017: € 156.2 million)

                   Operating working capital stood at € 32.7 million (HY 2017: € 18.1 million; YE 2017: € 7.1 million)

                   Net debt totaled € 52.5 million (HY 2017: € 47.7 million; YE 2017: € 25.1million)

                   Order book per 23 August 2018 of 150 Kton for 2018, 200 Kton for 2019 and 90 Kton for 2020

Post reporting events:

                   New CEO nominated for appointment at General Meeting of Shareholders 31 August 2018

                   Successful test of Blue 25M hammer installation technology by Carbon Trust and Fistuca

                   Entered into exclusive negotiations for projects for 2019 (total approx. 115 Kton)  

View attachment for the full interim 2018 report

Attachment