Press Release: 9M 2026: RENK's order intake climbs by more than 30% with further above-average increase in adjusted EBIT; operating capacity ramp-up in parallel to ongoing production
9M 2026: RENK's order intake climbs by more than 30% with further above-average increase in adjusted EBIT; operating capacity ramp-up in parallel to ongoing production
-- Rise in order intake for first nine months of 2026 to EUR1,664.4 million (9M 2025: EUR1,245.8 million; +33.6%); book-to-bill ratio of 1.7x (9M 2025: 1.3x) -- Total order backlog reaches new all-time high of EUR7.6 billion as of September 30, 2026 (Dec. 31, 2025: EUR6.7 billion) and secures high future revenue visibility -- Revenue grows by 5.8% to EUR982.0 million (9M 2025: EUR927.7 million) as projected and in line with customers' contractually agreed delivery and release plans -- Continued above-average growth in adjusted EBIT (+12.7%) to EUR158.8 million (9M 2025: EUR141.0 million) with improved adjusted EBIT margin of 16.2% (9M 2025: 15.2%; +100 basis points) -- Operating capacity ramp-up at Augsburg and Rheine sites running as scheduled in parallel to ongoing series production -- Systematic realization of M&A and sector strategy: acquisition of David Brown Defence completed as of November 2, 2026, binding contract for sale of slide bearings business concluded on October 22, 2026
Augsburg, November 5, 2026 -- RENK Group AG, a leading provider of propulsion solutions for the military and civilian sectors, has confirmed its continued growth path in the third quarter. Order intake rose to approximately EUR1,664.4 million in the first nine months of the year (9M 2025: EUR1,245.8 million; +33.6%) thanks to the consistently high level of orders in the defense business. A book-to-bill ratio of 1.7x (9M 2025: 1.3x) underscores the structurally high international demand for RENK Group products. The total order backlog reached a new all-time high of EUR7.6 billion as of September 30, 2026, underscoring the high visibility of future revenue until far beyond 2030. Sales revenues rose by 5.8% year on year to EUR982.0 million (9M 2025: EUR927.7 million), thus in line with customers' contractually agreed delivery and release plans.
"The third quarter shows what sets RENK Group apart -- we are systematically expanding our capacities while continuing to deliver reliably, exactly as contractually scheduled with our customers. Orders such as the extension for the LEOPARD 2 and the follow-on order for the Patria TRACKX family also reflect the trust our customers place in our technology and our ability to deliver. Our total order backlog of EUR7.6 billion lays the foundation for significantly higher production volumes in the years ahead," said CEO of RENK Group AG Dr. Alexander Sagel.
Operating ramp-up in parallel to ongoing production
RENK systematically propelled its operating capacity ramp-up in the third quarter. Three new state-of-the-art machining centers officially commenced operation at the Rheine site at the end of August, further increasing the defense capacities of RENK Group's third-largest plant. RENK Group plans to invest in excess of EUR20 million in the site by 2030. Moreover, the methods from the new production concept are being gradually transferred to the entire RENK Group production network.
Above-average growth in adjusted EBIT once again -- margin up by 100 basis points
Adjusted EBIT rose again by an above-average 12.7% to EUR158.8 million (9M 2025: EUR141.0 million). The adjusted EBIT margin therefore increased to 16.2% (9M 2025: 15.2%). This was due primarily to the positive economies of scale in the Vehicle Mobility Solutions (VMS) division and ongoing efficiency gains from the new modular production concept.
Vehicle Mobility Solutions (VMS) division
VMS remains the clear growth driver. Its order intake rose by 46.2% to EUR1,321.8 million in the first nine months of the year (9M 2025: EUR903.9 million). This equates to a book-to-bill ratio of 2.0x (9M 2025: 1.6x) and underscores the structurally high international demand for RENK products for the land domain.
The main drivers in the third quarter were the extended contract with KNDS Deutschland for HSWL 354 transmissions for the LEOPARD 2 battle tank and vehicle family worth approximately EUR130 million. Deliveries are scheduled to start in 2029 and be concluded in 2032. RENK also received a follow-on order from Patria for HSWL 076 transmissions for the TRACKX vehicle family worth EUR30 million in the third quarter, with deliveries scheduled to begin in 2027. These were preceded by their first procurement of TRACKX vehicles by Finland and Sweden. The service and spare part business remained at a high level in Germany, Europe and the USA.
Revenue rose by 12.3% to EUR650.2 million (9M 2025: EUR578.9 million). Adjusted EBIT rose even further, by 23.4% to EUR129.3 million (9M 2025: EUR104.7 million). The adjusted EBIT margin increased accordingly to 19.9% (9M 2025: 18.1%).
Marine & Industry (M&I) division
M&I continued its order intake recovery in the third quarter, driven by the marine business. Order intake for the first nine months of the year was up slightly year on year at EUR256.9 million (9M 2025: EUR254.7; +0.9%); the book-to-bill ratio was 1.0x (9M 2025: 1.0x). Contributing factors included orders from Türkiye for four ships sets for Hisar OPVs in the third quarter of 2026.
The industrial end markets remained marked by the continued weakness of the industrial sector. M&I sales revenue declined by 6.3% to EUR250.9 million (9M 2025: EUR267.6 million). Adjusted EBIT fell to EUR25.8 million (9M 2025: EUR31.2 million), which equated to an adjusted EBIT margin of 10.3% (9M 2025: 11.6%).
Slide Bearings (SB) division
Order intake for the Slide Bearings division in the first nine months of the year was virtually unchanged year on year at EUR96.0 million (9M 2025: EUR96.2; -0.3%); the book-to-bill ratio was 1.0x (9M 2025: 1.0x). Sales revenues also remained stable at EUR91.7 million (9M 2025: EUR91.8; -0.1%). Adjusted EBIT declined to EUR12.5 million (9M 2025: EUR14.8 million), and the adjusted EBIT margin was 13.6% (9M 2025: 16.1%).
Systematic realization of M&A and sector strategy: binding contract for sale of slide bearings business concluded on October 22, 2026. Acquisition of David Brown Defence completed as of November 2, 2026
"We are achieving profitable growth while also investing in the capacities that our record order backlog demands. Moreover, we have optimized our portfolio with the binding sale agreement for the slide bearings business and the completed acquisition of RENK UK Huddersfield Ltd. (formerly David Brown Defence Ltd.)," said CFO of RENK Group AG Anja Mänz-Siebje.
Outlook
Following the binding agreement on the planned sale of the Slide Bearings division, the Management Board of RENK Group AG has issued a forecast for fiscal year 2026 for the continuing operations. The Slide Bearings division will be recognized as a discontinued operation in accordance with IFRS 5 from the fourth quarter of 2026. The forecast is therefore based solely on the continuing business activities of the Vehicle Mobility Solutions (VMS) and Marine & Industry (M&I) divisions.
On this basis, RENK Group expects revenue in the region of EUR1.4 billion and adjusted EBIT of between EUR240 million and EUR255 million for fiscal year 2026.
CEO der RENK Group AG Dr. Alexander Sagel will announce the strategic focus of the Group going forward at a Strategy Update in London on December 8, 2026. This will be a hybrid event.
RENK Group
In EUR millions 9M 2026 9M 2025 Change ----------------------- --------- --------- --------- Order intake 1,664.4 1,245.8 +33.6% ----------------------- --------- --------- --------- Revenue 982.0 927.7 +5.8% ----------------------- --------- --------- --------- Adjusted EBIT 158.8 141.0 +12.7% ----------------------- --------- --------- --------- Adjusted EBIT margin 16.2% 15.2% +1.0 pp ----------------------- --------- --------- ---------
VMS
In EUR millions 9M 2026 9M 2025 Change ----------------------- --------- --------- --------- Order intake 1,321.8 903.9 +46.2% ----------------------- --------- --------- --------- Revenue 650.2 578.9 +12.3% ----------------------- --------- --------- --------- Adjusted EBIT 129.3 104.7 +23.4% ----------------------- --------- --------- --------- Adjusted EBIT margin 19.9% 18.1% +1.8 pp ----------------------- --------- --------- ---------
M&I
In EUR millions 9M 2026 9M 2025 Change ----------------------- --------- --------- --------- Order intake 256.9 254.7 +0.9% ----------------------- --------- --------- --------- Revenue 250.9 267.6 -6.3% ----------------------- --------- --------- --------- Adjusted EBIT 25.8 31.2 -17.3% ----------------------- --------- --------- --------- Adjusted EBIT margin 10.3% 11.6% -1.4 pp ----------------------- --------- --------- ---------
Slide Bearings
In EUR millions 9M 2026 9M 2025 Change ----------------------- --------- --------- --------- Order intake 96.0 96.2 -0.3% ----------------------- --------- --------- --------- Revenue 91.7 91.8 -0.1% ----------------------- --------- --------- --------- Adjusted EBIT 12.5 14.8 -15.5% ----------------------- --------- --------- --------- Adjusted EBIT margin 13.6% 16.1% -2.5 pp ----------------------- --------- --------- ---------
About the RENK Group AG
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