Market Update Q1 2026 Analyst Presentation
TKH Group
12 May 2026
Adj EBITA* €46.4m
Q1 2025: €40.0m
+ 19.1% organically
* EBITA excl. one-off income and expenses
Turnover €448.3m
Q1 2025: €419.6m
+ 9.6% organically
Automation
Vision Technologies: recorded growth from delivery larger projects; order intake in particular in Machine Vision grew substantially
Automated Machinery: impacted by lower order intake in previous quarters
Strong improvement in performance Electrification
Higher output of inter-array cables & high demand in onshore energy
During Q1, operational output Eemshaven further improved
Necessary upgrade to key production line; stable production for larger dimensions
Further optimization steps planned for 2026
Digitalization improved on back of improved market circumstances
Process of separating Electrification progressing according to plan
Q1 2026 Market Update
Growth in turnover and results; Improved performance Electrification
AUTOMATION
ELECTRIFICAION
Q1 2026 Market Update
Security Vision performed well, benefiting from delivery of a number of larger projects
3D Machine Vision performed well on back of growth in consumer electronics and semicon
Orderbook Machine Vision at the end of Q1 2026 substantially higher than at end of 2025
Vision Technologies
Turnover
+ 7.4% organically vs Q1 2025
Automated Machinery
Turnover
- 6.0% organically vs Q1 2025
Turnover in Tire Building was lower due to lower order intake previous quarters
Order intake in Q1 2026 remained at lower levels, further impacted by geopolitical
circumstances
Electrification
Turnover
+ 29.3% organically vs Q1 2025
Large part of growth due to increased output levels at Eemshaven
Onshore strong and further growing demand from Dutch network operators
Specialty cables performed slightly better that Q1 2025; favorable customer developments
Contract for supply of 162km inter-array for Vattenfall's Zeevonk offshore windfarm signed
Digitalization
Turnover
+ 6.2% organically vs Q1 2025
Improved fibre optic market circumstances
Operating expense level benefited from completed consolidation of fibre optic cable production to Poland
Outlook 2026
TKH reiterates its outlook as communicated on March 5, 2026. Barring unforeseen circumstances, we expect organic growth in both turnover and Adjusted EBITA in 2026
Q&A
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TKH Group NV published this content on May 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 12, 2026 at 08:39 UTC.
TKH Group N.V. (TKH) is focused on high-end innovative technologies in high growth markets. Automation, digitalization, and electrification are the key drivers for the group's innovations.
Through a combination of technologies, TKH offers superior solutions that support to increase the efficiency, safety and security of its customers. The technologies are offered together with software to create smart technologies and one-stop-shop solutions with plug-and-play integrated systems for smart connectivity (41% of net sales; energy connectivity and fibre optic connectivity systems for data and communication networks), smart manufacturing (29.5%) and smart vision (29.5%; machine vision and security vision systems).
Net sales are distributed geographically as follows: the Netherlands (23.4%), Europe (35.8%), Asia (23.7%), North America (14.5%) and other (2.6%).
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
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ESG MSCI
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