For much of the past year Tekmar has been working to realign itself, adjusting its focus and reshaping its business mix. The result is a company that now stands at a subtle turning point, balancing the challenges of timing and execution with a clearer sense of direction.
The group has indicated that it expects to achieve break-even adjusted EBITDA for the financial year to September 2025, an outcome that marks a considerable shift from the losses seen in the first half of the year. While certain contracts have slipped into the following year, this projection signals that internal measures are beginning to take effect. Under its “Project Aurora” programme, Tekmar has been driving operational change across several fronts.
At the same time, Tekmar has announced a significant contract win in the Middle East, valued at more than ten million US dollars. This award involves the design and supply of subsea cable protection technology, specifically its polyurethane TekDuct system alongside engineered ballast modules.
The interplay between these two strands of news is telling. On one side, Tekmar is demonstrating control over its own cost base and operational structure, with a forecast that it can sustain itself without further deterioration in margins. On the other, it is converting pipeline opportunities into tangible contracts of scale, with the Middle East deal offering both near-term revenue and longer-term visibility.
Tekmar Group plc (LON:TGP) vision is to be the leading provider of technology and services to the global offshore energy markets. The Group’s three primary operating companies are RYDER, Tekmar Energy and Pipeshield International.
