TSK Electrónica y Electricidad (TSK) investor relations material

Executive summary

• Achieved H1 2026 sales of €481 million, up 4% year-over-year, with EBITDA of €44.5 million and net profit of €44.8 million, a sixteen-fold increase over H1 2025 and 34% higher than FY 2025.

• Completed a successful IPO in May 2026, raising €172.5 million, strengthening equity to €382 million, and supporting a net cash position of €94 million.

• Record backlog and exclusivity agreements reached €6.9 billion, up nearly 40% from year-end 2025, with a commercial pipeline of €14.9 billion.

• Major international contracts secured in the US, Israel, Middle East, and LATAM, including large-scale energy, data center, and green ammonia projects.

• First results as a public company confirm guidance and reflect a stronger financial position.

Financial highlights

• EBITDA margin improved to 9.3% from 6.2% in H1 2025, with contribution profit up 43% to €70.1 million and a margin of 14.6%.

• Net cash position of €94 million at end of June, reversing net debt of €288 million in H1 2025.

• Net financial result improved to €19.9 million, reversing a prior loss, aided by lower debt and favorable FX.

• Operating cash flow reached €53 million, with pro forma cash flow of €109 million after post-period collections.

• Working capital improved from negative €60 million to positive €191 million.

Outlook and guidance

• Full-year 2026 guidance reaffirmed, targeting high single-digit to mid-teens revenue growth and ongoing strong margins.

• Net financial debt to EBITDA expected to remain below 0.5x; currently in a net cash position.

• No material CapEx expected and no dividend distribution planned for the next three years.

• Management focused on prudent, profitable growth and sustainable value creation, supported by robust backlog and pipeline.