Revenue rose 5.8% to €982 million, in line with delivery schedules agreed with customers. Adjusted earnings before interest and tax rose 12.7% to €158.8 million, lifting the margin to 16.2% from 15.2% a year earlier.
The Vehicle Mobility Solutions division accounted for nearly four-fifths of group orders, taking in €1.32 billion, up 46.2% year on year. RENK said economies of scale in the division and efficiencies from its modular production system were the main reasons for the improvement in the group’s margin.
A contract extension with KNDS Deutschland worth about €130 million covers HSWL 354 transmissions for Leopard 2 tanks and related vehicles, with deliveries scheduled from 2029 to 2032. A €30 million follow-on order from Patria covers HSWL 076 transmissions for its TRACKX vehicle family, with deliveries due to start in 2027.
“Orders such as the extension for the LEOPARD 2 and the follow-on order for the Patria TRACKX family also reflect the trust our customers place in our technology and our ability to deliver,” Chief Executive Alexander Sagel said. “Our total order backlog of €7.6 billion lays the foundation for significantly higher production volumes in the years ahead.”
RENK said the expansion of its Augsburg and Rheine plants was on schedule while both sites continued regular production. Three new machining centres began operating at Rheine in late August, and the group plans to invest more than €20 million at the site by 2030.
Orders at Marine & Industry edged up 0.9% to €256.9 million, helped by an order from Türkiye for equipment sets for four Hisar offshore patrol vessels. Weakness in industrial markets weighed on the division, where revenue fell 6.3% to €250.9 million and adjusted EBIT declined to €25.8 million from €31.2 million.
RENK signed a binding agreement to sell its slide bearings business on 22 October and completed its acquisition of David Brown Defence on 2 November. The slide bearings division’s revenue was broadly unchanged at €91.7 million, while adjusted EBIT fell to €12.5 million from €14.8 million.
“We are achieving profitable growth while also investing in the capacities that our record order backlog demands,” Chief Financial Officer Anja Mänz-Siebje said. “Moreover, we have optimized our portfolio with the binding sale agreement for the slide bearings business and the completed acquisition of RENK UK Huddersfield Ltd. (formerly David Brown Defence Ltd.).”
