Highlights:

  • Tekmar secures EUR8m UK offshore wind project, delivery scheduled for FY26-FY27.
  • FY25 revenue expected around GBP29m, with adjusted EBITDA above breakeven.
  • Order book increases 60% year-on-year, reflecting ongoing project intake momentum.

Tekmar Group plc (LSE:TGP) has been awarded a contract with an existing EPC customer for a major UK offshore wind farm. The project, valued over EUR8m, covers engineering and supply of Tekmar’s 10th Generation Cable Protection System along with cable ancillaries. Delivery is scheduled for March 2027, with revenue recognition expected across FY26 and FY27.

FY25 Trading Update
The Board expects FY25 revenue to reach approximately GBP29m, with adjusted EBITDA above breakeven. Performance in the second half of FY25 showed material improvement compared to the first half, which recorded an adjusted EBITDA loss of GBP0.7m. Tekmar focused on diversifying its pipeline both geographically and across end markets, with net debt reported at GBP2.8m as of 30 September 2025.

Record Order Book and Commercial Progress
Since 1 July 2025, Tekmar has secured new orders totaling around GBP29m, representing a 60% increase compared with the previous year.

Project Wins Across Core Markets

  • Offshore Wind: The EUR8m contract follows other framework agreements with Jan De Nul for TenneT’s 2GW Germany programme and Nexans.
  • Oil & Gas: Recent contracts include a USD10m UAE project, a EUR3.5m award in the Middle East, and a GBP2m Middle East contract announced in July 2025.
  • Ports & Harbours: The Group secured a USD1.5m project for engineered scour protection and specialized deployment equipment for a port development.

Market Context and Delivery Capacity
Tekmar’s growth plan under Project Aurora considers aggregated demand across offshore wind, oil & gas, and ports & harbours markets. The Group’s leaner cost base and revised organisational structure allow it to manage a higher volume of projects and utilize available capacity efficiently, without significant additional capital investment.

Share Price Snapshot
TGP was trading 8.00% higher at GBX 6.00 per share as of 04 December 2025.