**Summary of Tekmar Group PLC Final Results for the Year Ended 30 September 2025**
Tekmar Group PLC, a leading provider of asset protection technology and offshore energy services, announced its audited results for the fiscal year 2025 (FY25). The company reported revenue of £28.7 million, slightly below the previous years £32.8 million, and an Adjusted EBITDA of £0.1 million, compared to £1.7 million in FY24. Despite the decline, the results were in line with market expectations, with a notable improvement in the second half of the year, driven by higher volumes, better utilization, and enhanced commercial execution.
**Key Highlights**
1. **Project Aurora Progress**
The company reorganized into two verticals: Asset Protection Technology and Offshore Energy Services, achieving a leaner cost base and improved commercial focus.
Project Aurora, the company’s value creation strategy, is on track, with significant progress in streamlining operations and enhancing visibility for future growth.
2. **Financial Performance**
FY25 revenue was £28.7 million, with Adjusted EBITDA of £0.1 million.
The second half of FY25 saw a £1.5 million improvement in Adjusted EBITDA, driven by higher volumes and better commercial execution.
Gross profit margin for FY25 was 34%, with H2 25 achieving 38%, reflecting disciplined commercial management.
3. **Commercial Settlements**
Legacy defect notifications were largely resolved through commercial settlement agreements, reducing historical risk exposure with no admission of liability or cash impact on the Group.
4. **Post Year-End Highlights**
Secured £43 million in new orders since 1 July 2025, with a record order book of £40.7 million.
Improved revenue visibility with £26 million secured for FY26 and £15 million for subsequent years.
Strengthened balance sheet through the sale of Innovation House for £2.84 million, providing additional headroom for growth and investment.
5. **Strategic Initiatives**
Continued focus on scaling the business, operational excellence, and strategic investments under Project Aurora.
Expansion into new markets like Marine Infrastructure, with significant contract wins in port development projects.
6. **Outlook**
The Board expects H1 26 performance to be ahead of H1 25 and full-year performance in line with market forecasts.
Strong order backlog of £40.7 million, including £26 million scheduled for FY26, supports improved revenue visibility.
Confidence in long-term growth driven by structural demand in offshore wind, oil & gas, and marine infrastructure markets.
**CEO Commentary**
Richard Turner, CEO, highlighted FY25 as a pivotal year with the launch and execution of Project Aurora. He emphasized the company’s momentum, record order book, and strengthened balance sheet, positioning Tekmar for sustained, profitable growth and enhanced shareholder value.
**Chairman’s Statement**
Steve Lockard, Chairman, underscored the company’s progress in strengthening its business and focus on delivering sustained returns. He praised the team’s efforts in converting pipeline into orders and revenue, and expressed confidence in the successful execution of Project Aurora to build a differentiated, diverse, and profitable technology business.
**CFO Review**
Philip Lanigan, CFO, detailed the financial performance, noting the impact of lower volumes in H1 25 and the recovery in H2 25. He highlighted improvements in gross margins, restructuring efforts, and effective cash management, positioning the company for future growth.
**Conclusion**
Tekmar Group PLC demonstrated resilience in FY25, with strategic initiatives under Project Aurora driving operational improvements and financial stability. The company is well-positioned to capitalize on growth opportunities in its core markets, supported by a strong order book, improved balance sheet, and a clear strategic vision.