RENK Group AG reports strong order intake
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EQS-News: RENK Group AG
/ Key word(s): Incoming Orders
RENK Group AG reports strong order intake
Dr. Alexander Sagel, CEO of RENK Group AG, said: “Demand for our transmission solutions remains high worldwide. This clearly underpins: our growth strategy is paying off. We are fully on track and are strengthening our market position as a leading global supplier of mission-critical propulsion solutions in the military sector.” The orders in the Marine business include the delivery of CODAD-E propulsion systems (Combined Diesel And Diesel with Power Take In/Power Take Off) for two European customers. The transmissions will be used in patrol boats and supply vessels. The strong start to the year in the Marine business was supplemented by an order for the delivery of CODAG-CC propulsion systems (Combined Diesel And Gas-Cross-Connect). The propulsion solutions are designed for frigates of a European customer and will be delivered in 2026 and 2027. These orders underscore RENK's role as a prime transmission supplier for marine customers. Andre Neumann, CEO M&I, RENK GmbH, said: “We are the trusted partner for propulsion solutions in the marine sector. Our long-standing customers rely on the quality and robustness of proven RENK components and value our individual propulsion systems.” Strong Q4 2024: VMS wins three major orders In the VMS segment, the RENK Group has already received a major order in the fourth quarter of 2024 for the delivery of HSWL354 transmission worth more than €200 million. Delivery of the transmissions will be completed by 2030. In addition, RENK was commissioned in the fourth quarter of 2024 to supply HSWL295 transmissions with an order volume of around €85 million. Delivery of the first transmissions is scheduled for mid-2025. Both contracts include an option for the delivery of further transmissions. RENK also secured an order for the delivery of transmissions worth over €80 million from an international customer. In January 2025, an option for a further delivery worth €35 million was also agreed. “The orders in the VMS segment underscore the trusting relationship we have with our customers as a long-standing technology partner and supplier,” said Michael Masur, CEO VMS, RENK GmbH. ”We supply tried and tested, reliable and powerful transmissions that have been specially developed for the extreme operating conditions of battle tanks and are continuously being improved.”
About the RENK Group AG Headquartered in Augsburg, Germany, RENK Group AG is a globally leading manufacturer of mission-critical propulsion solutions across diverse military and civil end markets. Our product portfolio includes gear units, transmissions, power-packs, hybrid propulsion systems, suspension systems, slide bearings, couplings & clutches and test systems. With this broad product portfolio RENK Group AG serves, in particular, customers in industries for military vehicles, naval, civil marine, and industrial applications focused on energy. In the fiscal year 2023, RENK Group AG generated revenue of EUR 926 million. RENK Group AG is listed on the Frankfurt Stock Exchange since February 7, 2024 and is a member of the SDAX since May 9, 2024. For further information, please visit www.renk.com
Disclaimer This Press Release contains forward-looking statements that are based on plans, expectations, estimates and projections of the management of RENK Group as at the date of this Press Release. These plans, expectations, estimates and projections depend on a variety of assumptions and are subject to unforeseeable events, uncertainties, known and unknown risks as well as other factors that may cause actual results or the actual financial situation, development or performance to differ from those expressed or implied in the forward-looking statements. RENK Group does not assume any obligation to update the forward-looking statements or make adjustments to them to reflect events or developments occurring after the date of this Press Release unless obliged by statutory law.
Contact: Fabian Klee Head of Corporate Communications and Group Spokesperson Gögginger Straße 73 86159 Augsburg +49(0)160 7154647
13.02.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | RENK Group AG |
| Gögginger Straße 73 | |
| 86159 Augsburg | |
| Germany | |
| Phone: | 0821-5700-0 |
| E-mail: | info@renk.com |
| Internet: | https://www.renk.com |
| ISIN: | DE000RENK730 |
| WKN: | RENK73 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2085667 |
| End of News | EQS News Service |
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2085667 13.02.2025 CET/CEST
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