Netherlands · Delayed Price · Currency is EUR TKH Group Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw 9.6% organic turnover growth and 19.1% adjusted EBITDA growth, led by electrification and Vision Technologies. Electrification is nearly sold out for 2027, with new offshore wind contracts and capacity expansions planned. Guidance for organic growth is reiterated, with detailed outlook limited due to the electrification separation.
Fiscal Year 2025
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H2 2025 saw a strong recovery, with EBITDA near EUR 190 million and improved free cash flow. Electrification and vision segments outperformed, while automated machinery faced lower order intake. Major contract wins and ongoing separation plans support a positive outlook for 2026.
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Q3 2025 saw 8% growth, led by vision technology and electrification, with strong gains in connectivity and vision systems. H2 2025 turnover and adjusted EBITDA are expected to be substantially higher than H1, supported by a robust order book and improved production.
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Automation becomes the strategic core, with electrification set for divestment within 12–18 months. Financial targets include 5–7% organic CAGR for automation and 7% for electrification, with a focus on cash generation, reduced CapEx, and bolt-on acquisitions. Growth is driven by AI, vision systems, and tire building technology.
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EBITDA fell 27.8% in H1 due to Eemshaven project issues, but Smart Vision and onshore energy cables showed strong growth. H2 is expected to see a substantial rebound in turnover and EBITDA, with most production challenges resolved and demand rising across key segments.
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Organic turnover grew 2.2% year-over-year, led by smart vision and connectivity, while EBITDA fell 3%. Offshore and onshore energy cables rebounded, and cost savings are set to benefit results from Q2. Outlook for 2025 reiterates organic growth in turnover and EBITDA.
Fiscal Year 2024
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Record EBITDA and strong order book achieved despite headwinds, with strategic focus on automation and electrification. 2025 is expected to see organic growth in revenue and EBITDA, supported by cost savings, portfolio optimization, and robust demand in connectivity and vision segments.
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Q3 saw a 13.8% EBITDA decline, with Smart Manufacturing and Smart Vision showing resilience despite market headwinds, while Smart Connectivity was impacted by Eemshaven delays. Full-year EBITDA guidance was lowered to €200–210 million, with a strong Q4 expected. Offshore wind and onshore energy segments show promising growth potential.
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EBITDA rose 32% sequentially, with strong order intake in Smart Manufacturing and Subsea, but overall H1 results were below estimates due to destocking and weak demand in some segments. Full-year organic growth in turnover and EBITDA is expected, with cost-saving programs and portfolio optimization underway.