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TKH Group (TWEKA) investor relations material
TKH Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H2 2025 performance was substantially better than H1, with strong Q4 results and significant improvement in Electrification.
Automation and Vision Technologies benefited from technology leadership, innovation rates above 17%, and growing demand for smart, software-driven applications.
Electrification saw strong onshore demand, high market share above 80%, and Q4 recovery after earlier output issues, though offshore cable ramp-up costs impacted EBITA.
Strategic focus is shifting toward Automation, with separation of Electrification underway and major contract wins, including an 8-year, €650 million deal with Alliander/Liander.
Portfolio optimization advanced with Dewetron divestment and ongoing ESG progress, including EcoVadis Gold and improved CDP rating.
Financial highlights
FY2025 organic turnover grew 4.9% to €1,761.2 million; Q4 organic turnover up 8.7% to €483.7 million.
Adjusted EBITA/EBITDA declined 7.2% organically to €189.5 million; Q4 EBITA at €70.5 million (+8.1% organically).
Free cash flow improved to €75 million for the year, with stronger conversion in H2.
Net profit was €94.3 million, down 5.3% year-over-year; EPS at €2.37.
Net debt reduced to €461.4 million (from €496.0 million); leverage ratio at 1.9.
One-off expenses in 2025 totaled €16.8 million, mainly from restructuring, divestments, and asset transfers.
Outlook and guidance
Organic growth in turnover and Adjusted EBITA expected for 2026, though Q1 is anticipated to be weak.
Strategic targets for 2028: Automation 5–7% organic turnover CAGR, EBITA margin 17–19%, ROCE 25–30%; Electrification >7% organic turnover CAGR, EBITA margin 12–15%, ROCE 18–23%.
Continued optimization and separation of Electrification and Automation to unlock value.
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