TKH Group (TWEKA) Q1 2026 earnings summary

Executive summary

• Turnover reached €448.3 million in Q1 2026, reflecting 9.6% organic growth year-over-year, with adjusted EBITDA/EBITA up 19.1% to €46.4 million, driven by strong electrification performance and higher output.

• Electrification segment saw over 20% organic growth (29.3% in some reports), with high demand in energy transition, strong onshore energy demand, and nearly sold out for 2027.

• Vision Technologies achieved 7.4% organic growth, with substantial order intake and strong project deliveries, especially in machine vision and defense sectors.

• Automated Machinery turnover declined 6% organically due to lower prior order intake and geopolitical factors, but long-term outlook remains positive.

• Digitalization segment reported 6.2% organic growth, reduced operating expenses after production consolidation in Poland, and improved fiber optic market conditions, particularly in the U.S.

Financial highlights

• Adjusted EBITDA/EBITA rose to €46.4 million, a 19.1% organic increase year-over-year.

• Turnover increased from €419.6 million in Q1 2025 to €448.3 million in Q1 2026, with organic turnover growth of 9.6%.

• Electrification turnover grew 29.3% organically; Vision Technologies up 7.4%; Digitalization up 6.2%.

• Operating profit increased by €6 million year-over-year, with notable improvement in offshore wind activities.

• Adjusted EBITA margin (ROS) improved, but return on sales margin declined sequentially from Q4 due to high Q4 deliveries and Eemshaven upgrades.

Outlook and guidance

• Outlook for organic growth in both turnover and adjusted EBITDA/EBITA reiterated for 2026, barring unforeseen circumstances.

• No specific quantitative guidance provided due to ongoing electrification separation process.

• Gradual capacity increases expected in electrification, with additional output coming online in Q2 and subsequent quarters.

• Electrification separation process progressing as planned.