Tekmar Group (LSE:TGP) has reported audited results for the year ended 30 September 2025, posting revenue of £28.7m and adjusted EBITDA of £0.1m. While both figures declined compared with the prior year, they were in line with market expectations, and the company recorded an improvement in gross margins to 34%.
Management attributed the margin improvement to progress under its Project Aurora restructuring programme, which has streamlined operations, reduced costs and sharpened the group’s commercial focus. The company also pointed to a notable rebound in trading during the second half of the year.
Tekmar reported substantial progress in addressing legacy defect notifications, confirming that these issues have been resolved without any cash impact. The group also ended the period with a record order book valued at £40.7m, including £26m of revenue already secured for FY26. Its balance sheet has also strengthened following the sale of Innovation House, providing additional financial flexibility as the company pursues growth opportunities.
Momentum has continued into the new financial year, with the group securing £43m of new orders since July 2025. Management expects first-half FY26 performance to surpass the equivalent period last year, while full-year results are anticipated to align with current market forecasts.
The board believes that the successful implementation of Project Aurora, supported by governance changes including a refreshed board and the appointment of a new chief financial officer, is positioning Tekmar to operate as a more diversified and profitable engineering technology business within the expanding offshore energy sector.
Despite improving operational momentum, the company’s outlook remains constrained by historically weak financial performance, including negative profitability and cash flow pressures. Technical indicators provide some positive signals, though they remain insufficient to fully offset the financial challenges. Valuation metrics are also difficult to assess given the company’s negative earnings and the absence of a dividend yield.
More about Tekmar Group plc
Tekmar Group plc is a UK-based provider of asset protection technology and engineering services for offshore energy and marine infrastructure projects. Through its Offshore Energy and Marine Civils divisions, the company delivers geotechnical design, simulation and engineering analysis, along with specialised equipment and subsea protection technologies used in offshore wind farms, marine construction and other offshore energy developments worldwide.
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