Business
Second €8m Offshore Wind Contract Award
Tekmar Group plc has announced a significant contract award exceeding €8 million for its 10th Generation Cable Protection System and associated ancillaries for a major UK offshore wind farm. This contract, secured with an existing EPC customer, is contingent on a Final Investment Decision in early 2026, with revenue expected to be recognized in FY26 and FY27, and delivery scheduled for late 2027. The award highlights Tekmar's strong customer relationships and market leadership in subsea asset protection, reinforcing its order book momentum and providing longer-term revenue visibility. 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.\n \nTekmar Group plc\n(\"Tekmar\", the \"Company\" or the \"Group\")\n \nSecond €8m Offshore Wind Contract Award\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 significant contract award in excess of €8 million with an existing Engineering, Procurement and Construction (EPC) customer.\n \nThe scope of work comprises the supply of Tekmar's 10th Generation Cable Protection System (CPS) and associated ancillaries for a major UK offshore wind farm. Tekmar will deploy its in-house engineering expertise and holistic CPS design capabilities to deliver an optimised technical solution for the project. Subject to Final Investment Decision (FID) in early 2026, delivery will be late 2027, with revenue phased across the Company's FY26 and FY27 financial periods.\n \nThe contract award reflects the strength of Tekmar's relationship with this existing customer and its proven track record in delivering reliable, technically robust protection technology.\n \nRichard Turner, Chief Executive Officer of Tekmar Group, commented:\n\"We are delighted to continue our long-standing relationship with this customer through the award of another major project. This contract reinforces Tekmar's position as the clear market leader in subsea asset protection, with our technologies protecting two thirds of the world's installed offshore wind capacity. \n \nThis significant contract builds on our growing success and order book momentum, which is improving utilisation and provides longer term revenue visibility.\"\n \nEnquiries:\n \n\n\n\n\nTekmar Group plc Richard Turner, CEO\nPhil Lanigan, CFO\n \n\n\nc/o +44 (0)20 4582 3500\n\n\n\n\n \n\n\n\n\n\n\n\nCavendish Capital Markets Limited (Nomad and Broker) Peter Lynch\nNeil McDonald\nPearl Kellie\...