Slide 1: Enabling the world's energy transition: FY25 Interim Results
Enabling the world’s energy transition FY25 Interim Results TEKMAR GROUP PLC JUNE 2025 tekmargroup.com
Slide 2: Disclaimer
Disclaimer This document, which comprises an overview of the Company (the "Presentation"), has been prepared by, and is the sole responsibility of, Tekmar Group PLC (the "Company"). The Presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be com
Slide 3: Presentation team & agenda
Presentation team & agenda Richard Turner Chief Executive Officer 01 02 Results Overview Project Aurora 03 04 Financials Summary & Outlook Leanne Wilkinson Chief Financial Officer 3
Slide 4: Highlights
Highlights Significant Solid progress in Organisation operational closing out realigned to performance legacy warranty deliver 3-5 year claims strategic plan Pipeline growth expected Banking facilities Actively across all renewed assessing M&A revenue streams H2 4
Slide 5: HY25 Review: Key performance indicators
HY25 Review Key performance indicators Trading performance reflects expected weighting of profit delivery to the second half of FY25. In excess of £50m of projects scheduled for award in ▪ Revenue reflects timing of material the second half of the calendar year. awards as market recovery gathers mom
Slide 6: Strategic & operational review
Strategic & operational review 6
Slide 7: Three-to-five-year plan to deliver true scale and transformation
Three-to-five-year plan to deliver true scale and transformation Scaling the business Operational Excellence (2²) Acquisitive growth Financial strength Capitalise on our industry pedigree Enhanced return on sales and positive Drive value with strategic M&A Strong finances with resilient and differen
Slide 8: Delivering Project Aurora
Delivering Project Aurora Key workstreams driving our strategic priorities and transformation goals. Scaling the business Operational Excellence Sales Growth Sales & Operational Planning Product & Service Development Supply Chain Management Finance for Growth Organisational Design Engineering System
Slide 9: Increasingly favourable markets
Scaling the business Increasingly favourable markets Continuing market improvement across offshore energy markets supports sustained demand for Tekmar’s technology and engineering services 1 2035 global ambition Projects reaching FID (GW) Rising Demand: Global expansion with Europe as the anchor mar
Slide 10: Offshore wind
Scaling the business Offshore wind Tekmar strategic plan assumes more conservative growth than industry analyst forecasts Journey to 2035 Analysts' pipeline projection 384 GW Global Momentum Remains Strong Fixed 26.1 • Forecasts project over 260 GW of new offshore wind capacity globally by Floating
Slide 11: Key near-term initiatives – order intake
Scaling the business Key near-term initiatives – order intake Enquiry book Enquiry Pipeline by Sector £50m contracts expected to be awarded H2 2025 OWF O&G ✓ We have a strong enquiry Other book >£400m ✓ Our markets are growing TEKMAR ENERGY PIPESHIELD ✓ Our technology is RYDER Enquiry Pipeline by Re
Slide 12: Good progress in relation to legacy warranty claims
Scaling the business Good progress in relation to legacy warranty claims • Tekmar continues to investigate legacy CPS abrasion claims alongside installers/operators - without prejudice and denying liability • Investigations have concluded that Tekmar products are not defective • £5.2m EXPL insurance
Slide 13: Simplified business structure
Operational Excellence (2²) Simplified business structure Asset Protection Technology Offshore Energy Services We deliver comprehensive engineering and subsea protection solutions—from front- Offering specialist offshore services including structural grouting and subsea asset What we do end design a
Slide 14: A continued focus on costs and cash
Operational Excellence (2²) A continued focus on costs and cash Cost Management & Investment Discipline Capital Allocation & Growth Support • Delivered over £1m in annualised cost savings in FY25 • Continued tight control over cash to support growth and • Achieved primarily through headcount managem
Slide 15: M&A - engagement with selected targets is ongoing
Acquisitive growth M&A - engagement with selected targets is ongoing Our ambition is to become a complete subsea systems solutions provider with the potential to create significant value for public market investors Scale Investment Criteria Bring affordable scale to the group • Build value through s
Slide 16: Financials
Financials 16
Slide 17: Summary income statement
HY25 Review Summary income statement As order volumes grow, we expect to see a positive impact on profitability by leveraging our existing capacity • Revenue - lower revenue in HY25 due to lower demand in offshore wind and aggressive pricing on HY25 HY24 FY24 £m £m £m concrete stabilisation & protec
Slide 18: Summary balance sheet
HY25 Review Summary balance sheet Banking facilities renewed with additional flexibility from commercial property and the £18m CLN Investment property – now included as ‘asset held for sale’ following listing As at As at As at Trade & other receivables include: £m Mar-25 Mar-24 Sep-24 • £5.7m trade
Slide 19: Summary cash flow
HY25 Review Summary cash flow Disciplined cashflow management to support working capital with targeted investment that represents the greatest opportunity for near-term growth 31 Mar 31 Mar 30 Sep 25 24 24 Cash flows from operating activities (1.2) 0.6 (0.5) • Change in working capital of £1.0m incl
Slide 20: FY25 outlook
FY25 outlook Market environment improving Sales pipeline encouraging Focus on: • Delivering a stronger EBITDA & cash flow performance in the second half • Building a strong backlog for FY26 • Maintaining efficient cost and cash controls 20
Slide 21: Summary
Summary Significant Solid progress in Organisation operational closing out realigned to performance legacy warranty deliver 3-5 year claims strategic plan Pipeline growth expected Banking facilities Actively across all renewed assessing M&A revenue streams H2 21
Slide 22: Follow us
Follow us investors.tekmar.co.uk/ Research Portal IMC Investor Company News @tekmar-group-plc cavendish.com/ Presentations directorstalkinterviews. research-portal Investormeet com/ company.com 22
Slide 23: Appendix
Appendix
Slide 24: Board of directors
Board of directors A highly experienced Board focused on delivering significant value for shareholders Steve Lockard – Chair Richard Turner – Chief Executive Officer Appointed Chair in 2024 after joining the Board in 2023. Joined as CEO in 2024 with a strong track record scaling Former CEO of TPI Co
Slide 25: The convertible loan note facility
The convertible loan note facility In April 2023, SCF Partners committed an £18m investment through the convertible loan note facility (the “CLN facility”). The use of the CLN facility is targeted to drive growth including through acquisitions, in-line with the ambition of the Board to build a leadi
Slide 26: Tekmar - protecting what's beneath the surface
Tekmar today Tekmar - protecting what's beneath the surface We play a critical role in protecting and stabilising offshore assets and infrastructure Providing asset integrity and assurance in complex, dynamic and challenging offshore environments
Slide 27: Proven excellence: undisputed champion in offshore protection technology
Tekmar today Proven excellence: undisputed champion in offshore protection technology 12000 CPS provided to over Protecting over 40GW generations of Supporting projects CPS provider to the offshore windfarms pioneering in over 25 countries largest offshore wind 8000 CPS solutions around the world fa