Tekmar Group plc (LSE:TGP) has secured a €6 million contract extension for a European offshore wind project and a £4 million working capital facility as the group reported higher second-half revenue for FY26.
The company said revenue during the second half of FY26 was higher than both the first half and the comparable period in 2025, supported by increased manufacturing activity in the UK and a greater proportion of European offshore renewables work in its order book.
Tekmar expects full-year FY26 revenue to be more than 20% higher than in FY25. However, the company said growth in adjusted EBITDA is expected to be limited by a slower-than-anticipated increase in volumes, disruption related to conflict in the Middle East and UK supply chain issues.
European Offshore Wind Contract Extended by €6 Million
Tekmar has secured a €6 million extension to an existing European offshore wind contract covering the supply of cable protection systems and associated engineering services.
The work will be delivered from the group’s manufacturing facility in Newton Aycliffe, UK.
The company said the contract contributes to a shift in its order book towards European offshore renewables and forms part of its Project Aurora strategy, which includes increasing customer engagement and improving utilisation of its UK manufacturing capacity.
Tekmar expects its opening order book for FY27 to be more than 50% higher than it was at the beginning of FY26.
Tekmar Secures £4 Million Working Capital Facility
The group has also secured a £4 million working capital facility intended to support the execution of larger projects in the European offshore wind market.
Tekmar said the facility follows previous balance sheet measures and will provide additional working capital as it delivers its order book.
More About Tekmar Group
Tekmar Group plc is a UK-headquartered provider of asset protection technology and offshore energy services serving offshore wind, subsea interconnector, oil and gas, and marine infrastructure projects.
The group operates through its Asset Protection Technology and Offshore Energy Services divisions, providing products and engineering services including cable protection and subsea stabilisation systems.
Tekmar has worked on more than 120 offshore wind projects across 25 countries, representing more than 50GW of installed capacity, according to the company.
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