Business
£4m Contract for European Offshore Wind Project
Tekmar Group plc has secured a contract exceeding £4 million for its 10th Generation Cable Protection Systems and associated ancillaries for a significant European offshore windfarm, with revenue recognition expected across FY26 and FY27. This award, from an established customer, contributes to Tekmar's record order book, with £43 million in order intake since July 1, 2025, including over £15 million scheduled for execution beyond September 30, 2026, demonstrating enhanced orderbook strength and visibility into FY27. The company's CFO highlighted this as a step change in orderbook strength, while the CEO noted the contract's significance for a landmark European offshore wind development and its alignment with the company's Project Aurora growth strategy, further supported by recent positive industry news and increased European intergovernmental collaboration on offshore wind deployment. Disclaimer*
About this update from Tekmar Group Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. Upon the publication of this announcement via a Regulatory Information Service, this inside information is considered to be in the public domain.\nTekmar Group plc\n(\"Tekmar\", the \"Company\" or the \"Group\")\n \n£4m Contract for European Offshore Wind Project\n \nTekmar Group plc (AIM: TGP), a leading provider of asset protection technology and offshore energy services, is pleased to announce that it has secured a contract valued in excess of £4 million for the supply of its 10th Generation Cable Protection Systems (\"CPS\") and associated ancillaries to a large European offshore windfarm.\n \nThe contract has been awarded by an established customer. Tekmar will deploy its in-house engineering expertise and holistic design capabilities to deliver an optimised technical solution for the project. Delivery is scheduled during FY27, with revenue recognition expected across both FY26 and FY27.\n \nThis award reinforces Tekmar's leading position within the offshore wind industry, with over 12,000 systems protecting more than two thirds of the world's installed offshore wind capacity.\n \nPhil Lanigan, CFO of Tekmar Group plc, commented:\n\"This contract reflects continued delivery against Project Aurora, adding further depth to our record order book and enhancing visibility into FY27. Since 1st July 2025, Tekmar has secured £43m of order intake, including in excess of £15 million scheduled for execution beyond 30 September 2026. This represents a step change in orderbook strength and early visibility from historical levels.\"\n \nRichard Turner, CEO of Tekmar Group plc, commented:\n\"We are delighted to support our customer on this project, which represents another landmark European offshore wind development utilising Tekmar's differentiated CPS technology.\n \nWe are encouraged by recent newsflow which evidences the long-term growth opportunity in this maturing market. The increased European intergovernmental collaboration announced with the Hamburg Declaration supports the acceleration o...