Thyssenkrupp Marine Systems Charts Ambitious Course Following Landmark Shareholder Meeting

Thyssenkrupp Marine Systems raises sales outlook after strong AGM, backed by an €18.7B order book and major international submarine bids.

Thyssenkrupp Marine Systems (TKMS) has laid out a confident growth strategy following its inaugural Annual General Meeting as an independent, publicly listed entity. The meeting, held on February 27, saw shareholders overwhelmingly approve all management proposals against a backdrop of a record order book and upgraded financial guidance.

A Foundation of Record Orders and Strategic Wins

The company’s first AGM marked a significant milestone in its journey since its market debut and subsequent entry into Germany’s MDAX index on December 22, 2025. Dr. Volkmar Dinstuhl, Chairman of the Supervisory Board, characterized the period as exceptional, noting TKMS has firmly established itself as a leading German industrial enterprise.

This confidence is underpinned by a formidable order backlog, which reached approximately €18.7 billion in the first quarter of the 2025/26 financial year. This portfolio includes the largest torpedo contract in the firm's history, awarded by the German Navy. Further domestic opportunities are on the horizon, including the MEKO-A-200-DEU program (future F128). For the F127 frigate program, TKMS stands as the sole bidder.

Upgraded Outlook and Operational Expansion

Reflecting this robust position, management has raised its sales growth forecast for the current fiscal year. The new projection is for an increase of 2% to 5%, up from a previous range of -1% to +2%. The adjusted EBIT margin is expected to exceed 6%. Looking to the medium term, the shipbuilder is targeting annual growth of around 10% and an EBIT margin above 7%.

A key component of this expansion is the new hybrid production site in Wismar. This facility, designed for the construction of submarines, frigates, and special vessels, is intended to drive significant profitability improvements through economies of scale.

The company’s recent financial performance provides a strong starting point. In the 2024/2025 fiscal year, revenue advanced by 9% to €2.2 billion. Adjusted EBIT surged 53% to €131 million, achieving a margin of 6%. Free cash flow more than doubled, reaching €784 million.

International Ambitions and Technological Showcase

TKMS is actively pursuing major international contracts to fuel its growth trajectory. A pivotal decision from the Canadian government regarding a contract for twelve conventional submarines is anticipated between May and June 2026, where it faces competition from South Korea's Hanwha Ocean. The company is also engaged in advanced campaigns within the Indian market.

In a demonstration of its technological capabilities, TKMS and Israel Aerospace Industries delivered the ‘BlueWhale’ autonomous underwater vehicle to the German Navy on February 25. At 10.9 meters in length and weighing 5.5 tons, it is the largest unmanned system of its kind deployed by the Bundeswehr.

CEO Oliver Burkhard expressed strong optimism, stating the group is excellently positioned within a structurally growing global defense market. He emphasized a strategy focused on operational excellence, disciplined capacity expansion, and technological leadership.

As previously communicated prior to its stock market listing, TKMS plans to issue its first dividend for the current business year, with the payout scheduled for 2027. The upcoming decisions on major projects in Canada and Germany will be critical tests of the company's ability to deliver on its medium-term ambitions. TKMS shares were last quoted at €94.50.