Tekmar Group plc (LSE:TGP) has secured a contract valued at approximately €1 million to provide concrete cable protection and stabilisation solutions for a major offshore windfarm in Europe.
The award represents Tekmar’s first concrete protection order from an existing submarine cable contractor, expanding the scope of its relationship with the customer. Delivery of the products is scheduled to take place during 2026.
Management views the contract as an important commercial milestone for the group’s concrete solutions business and further evidence of its growing presence within the European offshore wind sector.
The order also contributes to Tekmar’s record backlog as the company progresses Project Aurora, an initiative designed to bring its asset protection technologies and offshore energy services together on a more integrated operating platform.
Through Project Aurora, Tekmar is seeking to improve manufacturing throughput and operational efficiency while offering customers a broader range of complementary products and services. The strategy is intended to strengthen the group’s proposition across international offshore wind projects as well as the oil and gas sector.
The latest contract provides additional visibility over future activity and builds on Tekmar’s established experience in protecting and stabilising critical subsea infrastructure.
The company’s wider financial position nevertheless remains challenging. Tekmar has continued to report losses, while revenue contracted significantly and the business experienced cash burn during FY2025.
Technical indicators provide a more supportive picture, with the shares trading above key moving averages and MACD remaining positive. Conventional valuation measures are less informative while the company remains loss-making, resulting in a negative price-to-earnings ratio, while no dividend data is available.
More about Tekmar Group plc
Tekmar Group plc is a UK-headquartered provider of asset protection technology and offshore energy services serving energy transition and marine infrastructure markets worldwide.
Operating through its Asset Protection Technology and Offshore Energy Services divisions, the group provides engineering-led products and services designed to protect and stabilise critical offshore infrastructure. Its principal markets include offshore wind, subsea interconnectors and oil and gas.
Tekmar has more than 40 years of industry experience and has supported over 120 offshore wind projects across 25 countries, representing more than 50GW of installed capacity worldwide.
The group has deployed thousands of cable protection systems and subsea stabilisation products, supported by geotechnical and analytical expertise and scalable manufacturing capabilities. Its international customer base spans Europe, Africa, the Middle East, Asia-Pacific and North America.
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