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Last updated : 18/09/2026 - 10h43
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Eiffage Secures Second Contract for Offshore Platform in the North Sea

Through its Belgian subsidiary Smulders and the joint venture NSORe, Eiffage has been selected by grid operator 50Hertz for a new conversion platform in the North Sea. This award adds to a first contract obtained in June 2026 from the same client.


Eiffage Secures Second Contract for Offshore Platform in the North Sea

A Second Conversion Platform Awarded by 50Hertz

Eiffage, through its Belgian subsidiary Smulders and as a member of the joint venture NSORe (Neptun Smulders Offshore Renewables), has been designated by 50Hertz, which manages the transmission network in northern and eastern Germany, for a second contract concerning an offshore conversion platform.

NSORe is an equal partnership joint venture between Smulders and Neptun Werft, a subsidiary of Meyer Werft, dedicated to HVDC (high voltage direct current) offshore substation projects. The new contract concerns the construction of a 2 gigawatt conversion platform intended for the LanWin3 project in the North Sea.

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As with the LanWin6 project, Siemens Energy will be responsible for supplying the high voltage components for the LanWin3 project. NSORe is responsible for the complete implementation and turnkey delivery of the facilities, which includes overall system design, component procurement, construction, installation onshore and offshore, as well as commissioning.

Key components, such as the topside (main structure of the offshore platform), must be built at the NSORe shipyard in Rostock-Warnemünde. Smulders will manufacture the steel substructure (jacket) at its own shipyard in Flushing, the Netherlands.

A First Contract Awarded in June 2026

In June 2026, NSORe, within a consortium with Siemens Energy, had already been awarded by 50Hertz the contract for the construction of a 2 gigawatt conversion station for the LanWin6 offshore grid connection project.

According to Eiffage, these two contracts will enable the generation of offshore wind electricity volumes from the North Sea for the German electrical grid and strengthen NSORe's positioning in offshore wind projects.



Sector Construction et infrastructures BTP / infrastructures


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 12 200 millions d'euros
  • Quarterly revenue: 12 200 millions d'euros
  • Revenue growth: 2,3 %
  • Net income: 342 millions d'euros
  • Free cash flow: -75 millions d'euros
  • 9 400 millions d'euros
Guidance from the release
  • le Groupe anticipe une croissance d'activité d'une ampleur moindre qu'en 2025
Risks mentioned
  • Persistance de la baisse du trafic autoroutier dans un contexte de prix des carburants élevés
  • Trafic total APRR et AREA en baisse de 2,5 %, affecté par la hausse du prix des carburants
  • Chiffre d'affaires International hors Europe en repli de 37,1 %
Opportunities identified
  • Hausse du carnet de commandes des Travaux de 7 % sur un an (+6 % depuis le début de l'année)
  • Marge opérationnelle courante d'Eiffage Énergie Systèmes en hausse de 30 pbs à 5,2 %
  • Poursuite du développement européen du Groupe en Travaux, Europe hors France +8,0 %

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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