In the first quarter of 2025/26, reporting to 31 December 2025, the company’s order backlog reached a record €18.7 billion. Since then, further orders from Norway under the 212CD submarine programme have increased the backlog, while key German projects, including the MEKO A-200 DEU project, known in future as F128, are awaiting decisions following a preliminary agreement with the responsible federal office.
Oliver Burkhard, Chief Executive Officer of TKMS, said: “Our Group stands on a strong foundation. We are excellently positioned in a structurally growing market. We have a clear strategy, putting sustainable growth and increasing profitability at the heart of our work. In doing so, we focus on operational excellence, disciplined capacity expansion, and technological market leadership. TKMS is on track, and we want our shareholders to participate in this development.”
The company is the sole bidder in the F127 programme and continues advanced campaigns in Canada and India, highlighting its international growth prospects. Dr. Volkmar Dinstuhl, Chairman of the Supervisory Board of TKMS, stated: “TKMS has had an extraordinary year. With the global launch of the new corporate brand, the listing on the German Stock Exchange, and the entry into the MDAX on December 22, 2025, TKMS has established itself as one of the most important companies in Germany and in international competition. The record order book of more than €18 billion is testament to the Group’s promising economic development. This success was only made possible by the commitment and performance of all teams at TKMS.”
In response to the high order backlog, TKMS intends to expand capacity in a targeted way and improve profitability through economies of scale. A new hybrid facility in Wismar will support construction of submarines, frigates and special vessels such as the Polarstern, while growth in unmanned platforms, marine electronics, systems networking and artificial intelligence is expected to contribute further to margins.
In the medium term, the company aims for annual growth of around ten per cent and an EBIT margin above seven per cent. TKMS plans to pay its first dividend for the current fiscal year in 2027, targeting a payout ratio of 30 to 50 per cent of annual earnings over time, and since its market debut on 20 October 2025 its share price has risen by more than 50 per cent.
