Q1 2026 TKMS AG & Co KgaA Earnings Call Transcript
Key Points
- Tkms Ag & Co KGaA (XTER:TKMS) achieved a record order backlog of EUR18.7 billion, representing a 13% year-on-year growth, providing long-term revenue visibility.
- The company successfully delivered two legacy submarine projects and is ramping up production of the new 212CD-type submarines.
- Tkms Ag & Co KGaA signed a primary contract with the German navy for a bridge solution based on the MEKO A200 type frigate, indicating strong demand for their products.
- The Atlas Electronics segment showed exceptional performance with a significant increase in order intake and revenue, driven by a record order for heavyweight torpedoes.
- The company maintains a strong balance sheet with high cash generation and a debt-free capital structure, supporting growth-oriented CapEx and operations.
- Order intake was down compared to the previous quarter due to the absence of large bookings like the optional boats for the German submarine last year.
- Revenue was stable but impacted by usual volatility and revenue shifts inherent in the project-based business model.
- The EBIT margin showed only a slight improvement, with the first quarter typically being the lowest margin quarter.
- The Submarine segment experienced a decline in order intake and revenue, with EBIT showing a small decline due to ramp-up costs and increased R&D expenses.
- The Surface Vessels segment's EBIT was slightly down due to a significant positive currency effect in the prior year that did not reoccur.
Good morning everyone. This is Jacques Esser from the Investor Relations department of TKMS. Also on behalf of the entire Investor Relations team, I wish you a very warm welcome to our quarterly earnings presentation for our first quarter 2025 -- '26. With me in the room are Oliver Burkhard, our CEO; and Paul Glaser, our CFO, and we appreciate you joining us today to our Q1 reporting event.
Our CEO, Oliver Burkhard, will start with an overview of this quarter's key highlights and recent developments shaping our market, and then our CFO, Paul Glaser, will walk you through the detailed financial results and share our outlook for the year ahead.
Finally, and before I hand over, please allow me some housekeeping remarks. All the documents from today's earnings release and for this conference call are available on our investor relations website. The call will be recorded and the reply will be available shortly after this call.
After the presentation, we will open the floor for questions for
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