Renk Group Ag · XETR:R3NK
Renk — H1 2026 Earnings Presentation
36 slides from Renk's earnings presentation, Aug 6, 2026
Slide 1: H1 2026 Analyst Presentation
WE POWER FREEDOM. H1 2026 Analyst Presentation Dr. Alexander Sagel, CEO Anja Mänz-Siebje, CFO 6 August 2026
Slide 2: H1 2026 summary – Highlights
H1 2026 OVERVIEW H1 2026 summary – solid first half-year as the basis for a successful FY 2026 Highlights Key order intakes Q2 2026 KF 41 Lynx / transmissions + final drives ~ €207m Record H1 order intake – continued strong international demand for land and sea platforms THOR IV frame contract / tra
Slide 3: Strong order momentum and further margin improvement
H1 2026 OVERVIEW RENK Group with strong order momentum and further margin improvement ORDER INTAKE REVENUE ADJ. EBIT ADJ. EBIT H1 2026 H1 2026 H1 2026 MARGIN H1 2026 €1,195m €637m €98m 15.4% +30% YoY +3% YoY +10% YoY +1.0pp YoY Order intake – highest quarterly order intake in company history, H1 202
Slide 4: NATO on the move during H1-26
H1 2026 OVERVIEW NATO on the move during H1-26 – reinforcing RENK’s midterm targets and beyond RENK CORE MARKETS: NATO SUMMIT | THE HAGUE NATO SUMMIT | ANKARA Moving forward ▪ Confirmation of 5% target ▪ Massive ▪ Increases in defense spending ▪ 3.5% + 1.5% target rearmament & ▪ Focus on implementat
Slide 5: Defense business is driving the Group performance
H1 2026 OVERVIEW Defense business is driving the Group performance Order Intake (Defense, €m) Revenue (Defense, €m) ~+15% +48% +6% ~533 488 1,029 462 694 H1 2025 H1 2026 H1 2025 H1 2026 H1 2026 Missing Israel volumes compared to H1 2025 4 RENK Group AG | H1 2026 Conference Call Trusted Partner
Slide 6: Vehicle Mobility Solutions
H1 2026 OVERVIEW Vehicle Mobility Solutions • Revenue growth in H1 of 8% in line with customer contracts and delivery schedules • Record H1 order intake of €970m (+43% YoY) - book-to- bill ratio at 2.3x driven by KF41 Lynx framework extension and THOR IV follow-on frame contract • New modular assemb
Slide 7: Marine & Industry
H1 2026 OVERVIEW Marine & Industry • Q2 revenues significantly better than cautious start (Q1), however H1 6% below prior year • Navy clear revenue driver including partial recovery of customer-induced delays from Q1 • Industrial business still under cyclical market pressure Revenue, €m -6.1% 176 16
Slide 8: Slide Bearings
H1 2026 OVERVIEW Slide Bearings • Ongoing headwinds from industrial end markets, leading to a stagnation of revenue development • Less favorable product mix in H1 Revenue, €m -4.4% 61 63 60 Order intake H1 64 €m H1 2024 H1 2025 H1 2026 7 RENK Group AG | H1 2026 Conference Call Trusted Partner
Slide 9: Total Order Backlog is growing steadily
H1 2026 OVERVIEW Total Order Backlog is growing steadily driven by increasing demand for military mobility solutions from international customer base Total Order Backlog (H1-26), €bn 2.1x 0.7x 2.6x 5.3x Regional Split, % 3.6 (FY-25) 26% 24% 6.7 (FY-25) 3.6 GER 0.9 (FY-25) 1.0 7.4 EMEA APAC 2.3 (FY-2
Slide 10: Financial Summary
WE POWER FREEDOM. Financial Summary Anja Mänz-Siebje, CFO
Slide 11: Record-high Q2 order intake underscores market position
FINANCIAL SUMMARY RENK Group: Record-high Q2 order intake underscores RENK’s market position Order intake, €m Revenue, €m Fixed order backlog(2), €m 1.5x 1.9x 1.1x 1.7x 25.9% 29.7% 2,844 1,195 2,260 921 64.5% 2.7% 613 620 637 1.7% 373 348 354 H1-25 H1-26 Q2-25 Q2-26 H1-25 H1-26 Q2-25 Q2-26 Dec-25 Ju
Slide 12: Adj. EBIT margin expanded by 100 bps
FINANCIAL SUMMARY RENK Group: Adj. EBIT margin expanded by 100 bps Adj. gross profit(1), €m Adj. EBIT(2), €m Net debt(3), €m 27.6% 28.9% 26.7% 28.3% 14.4% 15.4% 14.6% 15.8% 1.5x 1.5x 4.1% 407 391 7.8% 184 171 10.1% 8.1% 98 93 100 89 9.8% 51 56 H1-25 H1-26 Q2-25 Q2-26 H1-25 H1-26 Q2-25 Q2-26 Dec-25 J
Slide 13: VMS: Continued growth driver with strong margin improvement
FINANCIAL SUMMARY VMS: Continued growth driver with strong improvement in adj. EBIT margin Segment financials, €m Order intake Revenue Adj. EBIT(1) 20.2% 17.1% 19.2% 17.5% 19.9% 42.6% 970 20.5% 80 681 73.5% 67 19.3% 7.6% 492 45 389 419 4.8% 38 284 217 227 H1-25 H1-26 Q2-25 Q2-26 H1-25 H1-26 Q2-25 Q2
Slide 14: M&I: Improved Q2 performance following cautious start
FINANCIAL SUMMARY M&I: Improved Q2 performance following a cautious start to the year Segment financials, €m Order intake Revenue Adj. EBIT(1) 10.7% 9.9% 11.1% 11.9% -6.1% -13.5% -9.9% 176 19 183 165 164 16 -2.6% 4.7% 56.7% 103 11 12 100 94 BER300 - EBIT 60 H1-25 H1-26 Q2-25 Q2-26 H1-25 H1-26 Q2-25
Slide 15: Slide Bearings: Industrial headwinds remain challenging
FINANCIAL SUMMARY Slide Bearings: Industrial headwinds remain challenging despite stable Q2 order intake Segment financials, €m Order intake Revenue Adj. EBIT(1) 16.6% 12.5% 16.0% 11.7% -28.0% -4.4% -3.2% 10 63 66 60 64 8 -7.5% -32.2% 0.0% 32 5 30 30 30 3 H1-25 H1-26 Q2-25 Q2-26 H1-25 H1-26 Q2-25 Q2
Slide 16: Increase in adjustments reflects M&A activities
FINANCIAL SUMMARY Increase in adjustments reflects M&A activities, primarily related to the acquisition of DB Defence For the period, €m H1-25 H1-26 Operating profit 59.3 58.0 Purchase price allocation effects 1 22.2 21.9 Operating profit before PPA depreciation and amortization as well as income /
Slide 17: Disciplined net working capital management
FINANCIAL SUMMARY Disciplined net working capital management delivers slight improvement Customer receivables(1) Inventories Net working capital, €m Trade payables Prepayments received(2) % of LTM revenue 24.9% 25.2% 24.9% 344.9 344.3 284.2 330.9 375.0 267.7 436.0 506.7 391.2 (117.0) (143.9) (146.7)
Slide 18: Strong bottom-line performance drives high Free Cash Flow
FINANCIAL SUMMARY Strong bottom-line performance drives high Free Cash Flow Change in NWC(3), €m Key Free Cash Flow items H1-26, €m 6.1 (18.2) 6.1 (17.1) (65.8) Inventories (20.5) (11.6) 115.4 54.1 +49.4 Customer receivables (12.2) 41.9 +20.4 Prepayments received 54.1 41.9 +2.0 Trade payables CCR (%
Slide 19: Successful refinancing supports profitable growth and M&A
FINANCIAL SUMMARY Successful refinancing supports profitable growth, M&A and long-term value creation Stronger capital structure BEFORE: SECURED LBO STRUCTURE AFTER: NEW UNSECURED STRUCTURE Fully unsecured financing replaces previous secured LBO structure Refinanced in full In place since 27 July 20
Slide 20: Outlook
WE POWER FREEDOM. Outlook Dr. Alexander Sagel, CEO
Slide 21: 2026 guidance confirmed – targeting upper half of adj. EBIT range
OUTLOOK 2026 guidance confirmed – targeting upper half of adj. EBIT range Main operational levers Strict delivery and revenue conversion based on customer contracts Guidance 2026 Stronger backend loaded H2 >€1.5bn Full focus on production and capacity expansion in Augsburg and Rheine Revenue Roll ou
Slide 22: Positioned for strong order intake growth in 2026
OUTLOOK Key OE order intake H2 2026 (examples) RENK is positioned for strong order intake growth in 2026 Leopard 2 MBT + family, Int. MBT (Q3/Q4) Order Intake Development 2026 (in €m) Boxer Arminius (Q4) ~2,000 PzH 2000 (Q3) ~300-400 1,195 IFV (AICS, AUT) (Q3+Q4) Thor IV (Q3) K2 MBT + family (Q3/Q4)
Slide 23: Consequent execution of capacity ramp-up plan
OUTLOOK Operations: During Q2 consequent execution of our capacity ramp-up plan Germany for land transmissions – first Type 26 gears in Augsburg Augsburg Augsburg Installation fully First Type 26 automated CNC gear for David machining Brown Defence centers Augsburg Rheine Roll out modular New CNC as
Slide 24: Acquisition of David Brown Defence
OUTLOOK Acquisition of David Brown Defence: consequent execution of M&A strategy and global leadership in naval segment (large surface combatants and submarines) David Brown Defence at a glance ~£100m ~£160m >£700m ~75% ~25% Revenue Mid-term revenue Fixed contracts and high FY-26e1 target 2030 proba
Slide 25: Key takeaways
OUTLOOK Key takeaways Solid first half 2026 fully on track: record H1 order intake on unchanged 1 strong international demand for conventional land and sea platforms; Total Order Backlog at a new all-time high of €7.4bn 2 Strong operating performance driving solid cash flow development VMS remains t
Slide 26: Financial Calendar H2 2026
OUTLOOK Financial Calendar H2 2026 • Berenberg Virtual US/CAN Roadshow, • Jefferies US Roadshow (14-16 Oct) (6 Aug) • Pre-Close Call Q3 2026 (21 Oct) August September Oktober November • Berenberg Investment Seminar, Stockholm (1 Sep) • 9M 2026 Release (5 Nov) • Commerzbank/ODDO Corporate Conference,
Slide 27: Q&A Session
WE POWER FREEDOM. Q&A Session RENK Group / Company presentation / March 2023
Slide 28: Your contact
WE POWER FREEDOM. Your contact Events Publications Investor Relations: Julia Brand, Senior IR Manager Phone: +49 821 5700 735 E-Mail: investors@renk.com Maximilian König, Senior IR Manager Phone: +49 821 5700 9302 E-Mail: investors@renk.com Christian Weiß, Senior IR Manager Phone: +49 821 5700 9279
Slide 29: Disclaimer
Disclaimer By accessing this presentation, you agree to be bound by the following limitations. This presentation has been prepared for information and background purposes only. It does not constitute or form part of, and should not be construed as, an offer of, a solicitation of an offer to buy, or
Slide 30: Appendix
WE POWER FREEDOM. APPENDIX
Slide 31: Income statement
FINANCIAL APPENDIX Income statement For the period, €m H1 2025 H1 2026 Revenue 620.2 637.2 Cost of sales (474.0) (479.0) Gross profit 146.1 158.2 Distribution expenses (34.2) (37.1) General and administrative expenses (50.5) (60.0) Net allowances on financial assets 0.2 (0.0) Other income 11.4 6.8 O
Slide 32: Balance sheet – Total assets
FINANCIAL APPENDIX Balance sheet – Total assets As of, €m Dec 31, 2025 Jun 30, 2026 Intangible assets 310.0 293.5 Property, plant and equipment 339.8 342.4 Other and financial investments 0.8 0.8 Deferred tax assets 29.2 30.6 Other non-current financial assets 0.4 0.0 Other non-current receivables 2
Slide 33: Balance sheet – Total equity and liabilities
FINANCIAL APPENDIX Balance sheet – Total equity and liabilities As of, €m Dec 31, 2025 Jun 30, 2026 Share capital (subscribed capital in previous year) 100.0 100.0 Capital reserves 174.5 175.6 Retained earnings 193.3 165.1 Cumulative other comprehensive income 17.0 27.5 Equity attributable to shareh
Slide 34: Cash flow statement
FINANCIAL APPENDIX Cash flow statement For the period, €m H1 2025 H1 2026 Cash and cash equivalents at beginning of period 164.3 152.1 Profit / loss before tax (including profit/loss attributable to non-controlling interests) 31.0 47.7 Income taxes paid (11.0) (20.5) Depreciation, amortization and i
Slide 35: Adjustments
FINANCIAL APPENDIX Adjustments For the period, €m H1-25 H1-26 Operating profit 59.3 58.0 Purchase price allocation effects 22.2 21.9 Operating profit before PPA depreciation and amortization as well as income / losses from 81.5 79.9 PPA asset disposals M&A activity related costs 1.3 10.0 Implementat
Slide 36: Endnotes
Endnotes p.8 (1) Defined as total order backlog as of June-26 / LTM revenue for the period ended June 30, 2026. Total order backlog comprised of fixed order backlog, frame order backlog and soft order backlog (2) Fixed order backlog represents with respect to binding customer contracts and purchase