Tekmar nets €6m cable protection gig

Posted on 30 September 2026

Tekmar nets €6m cable protection gig

Tekmar Group has secured a €6 million contract extension to supply cable protection systems (CPS) and associated accessories for a European offshore wind project.

The company said the contract also covers specialist engineering, analysis and design services delivered by its in-house team.

Tekmar added that the contract is subject to the project’s Final Investment Decision (FID), currently expected in Q1 FY27, with manufacturing to be undertaken at its Newton Aycliffe facility.

The contract includes an option for the project’s second phase with a broadly similar scope and value, additional to the Phase 1 award and subject to exercise by the customer and Phase 2 FID.

Tekmar expects to enter FY27 with an order book more than 50% higher than at the start of FY26, supported by the €6 million contract extension and other smaller contract wins.

The company expects FY26 revenue to be more than 20% up on FY25 after trading volumes continued to grow in the second half.

However, near-term volume and revenue growth in H2 2026 has been slower than anticipated due to the prolonged conflict in the Middle East and UK supply chain constraints.

Some Q4 FY26 work scopes and awards in the Middle East have been deferred, while some planned UK material deliveries were pushed into October following a power outage at a supplier’s facility.

Tekmar anticipates FY26 adjusted EBITDA will be up on FY25, with FY26 H2 Profit After Tax nearing breakeven.

The company has also secured a further £4m working capital facility, supplementing its existing UKEF-backed trade loan with an invoice discounting facility.

“We continue to build momentum and diversity with our orderbook, which will add to revenue visibility in FY27 and beyond,” said Tekmar Group chief executive Richard Turner.

“The ongoing conflict in the Middle East has caused disruption and logistical challenges, but despite its impact, Tekmar remains well positioned to provide full lifecycle support to global offshore energy and marine infrastructure projects. The overall direction of travel for the business remains positive, as reflected in the growing orderbook, in-line with our plans under Project Aurora.”

Source: https://www.renews.biz/offshore-wind/tekmar-secures-e6m-offshore-wind-contract/ 

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