Tekmar Group Plc · LSE:TGP
Tekmar — FY2024 Earnings Presentation
20 slides from Tekmar's earnings presentation, March 2025
Slide 1: Enabling the world's energy transition – Full Year Results
Enabling the world’s energy transition Full Year Results TEKMAR GROUP PLC MARCH 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 FY24 review 03 04 Project Aurora Summary & outlook Leanne Wilkinson Chief Financial Officer 3
Slide 4: Tekmar - protecting what's beneath the surface
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 4
Slide 5: Our track record
Our track record 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 CPS solutions around the world farm in the world Over Over Over subsea stabilisation geotechnical design analysis
Slide 6: Headlines
Headlines Stable Positive Positioned for Performance Market Growth FY24 Outlook Refreshed Launch of Board Strategic Plan & Management – “Project Team Aurora” 6
Slide 7: FY24 review
FY24 review 7
Slide 8: Platform for growth
FY24 Review Platform for growth The business has been stabilised with £1.7m EBITDA1 for FY24 establishing a solid platform for growth ✓ FY24 performance in-line with market expectations Revenue Gross profit margin Adjusted EBITDA1 ✓ 880bps increase in gross profit margin £33m 32% £1.7m ✓ Highest Adj
Slide 9: EBITDA improvement
FY24 Review EBITDA improvement Highest level of EBITDA since FY20 highlights improved financial performance, but does not reflect the ambition we have or the opportunity ahead for sustained profit improvement £m unless otherwise stated FY24 FY23 Revenue 32.8 35.6 Balanced revenue Gross Profit 10.5 8
Slide 10: Balance sheet highlights
FY24 Review Balance sheet highlights Stable balance sheet with additional flexibility including from the investment property and £18m convertible loan note As at As at £m Sep-24 Sep-23 Fixed Assets 4.5 6.8 £2.8m asset retained from disposal of Subsea Innovation (SIL) and leased to acquirer Investmen
Slide 11: FY25 overview
FY25 overview • FY25 EBITDA expected to be consistent with FY24 • Order book expansion is a key focus for FY25 • Recent awards include £5m offshore wind contract and Nexans 3-year framework agreement • Increased asset base in offshore energy services drives attractive near-term returns • Run rate CA
Slide 12: Project Aurora
Project Aurora 12
Slide 13: Three-year plan to deliver true scale and transformation
Three-year plan to deliver true scale and transformation Scaling the business Operational gearing (2²) Acquisitive growth Financial strength Capitalise on our industry pedigree Enhanced return on sales and Drive value with strategic M&A Strong finances with resilient and differentiated technology to
Slide 14: Positive growth in offshore wind and oil & gas
Positive growth in offshore wind and oil & gas Continuing market improvement across offshore energy markets supports sustained demand for Tekmar’s technology and engineering services Investment: FID (GW) 1 2035 global ambition Rising Demand: Global expansion with Europe as the anchor market 410GW1 R
Slide 15: Key near-term initiatives – order intake
Key near-term initiatives – order intake Enquiry book Enquiry Pipeline by Sector OWF O&G £300m ✓ We have a strong enquiry Other >£400m book which has grown by £100m since December TEKMAR ENERGY PIPESHIELD ✓ Our markets are growing RYDER Enquiry Pipeline by Region ✓ Our technology is differentiated E
Slide 16: Strategic ambition
Strategic ambition Tekmar Today: Tekmar Tomorrow: Protecting what's beneath the surface Complete subsea systems solutions Offshore services / Rental (20%) Offshore services / Rental (7%) Engineering Consultancy (3%) 2024 3-5 years Engineering Consultancy (5%) Protection Technology (90%) Protection T
Slide 17: Strategic ambition – what this means for shareholders
Strategic ambition – what this means for shareholders Organic plan generates cash to build our reserves and fuel our growth Organic plan 5x • Conservative market assumptions 4x • Gearing effect drives strong uplift in EBITDA 3x • Capital light business model (low capex) drives strong conversion of p
Slide 18: Beyond organic – acquisitive growth
Beyond organic – acquisitive growth 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 scale and quality of earnings Dive
Slide 19: Summary
Summary Stable Positive Positioned for Performance Market Growth FY24 Outlook Refreshed Launch of Board Strategic Plan & Management – “Project Team Aurora” 19
Slide 20: Find out more
Find out more AGM & site tour Please join us at our AGM and site Research Note visit on Thursday, 27 March 2025. The latest equity research on Tekmar Group plc is Grindon Way available to view on the Cavendish research portal, Contact investors@tekmar.co.uk Newton Aycliffe which can be accessed via