Capital Markets Day

RNS Number : 0519G

Tekmar Group PLC

22 July 2021

 

TEKMAR GROUP PLC

("Tekmar Group" or the "Company")

Capital Markets Day

Tekmar Group (AIM: TGP), a leading provider of technology and services for the global offshore energy markets, announces that, as previously notified on 6 July 2021, it will be hosting virtual Capital Markets Day events for investors today. Further details for investors and analysts wishing to attend these events are set out below.

The presentation will provide a further update to the five year strategic plan set out in the Company's interim results on 1 June 2021, and in particular how the Tekmar Group will deliver on its ambition to:

• Double organic revenue over the next five years from the base of the FY20 revenue run-rate of approximately £40m
• Deliver a sustainable mid-to-high teen EBITDA margin in the later years of the plan
• Reinforce Tekmar's industry leadership position as a trusted partner to customers
• Expand Tekmar's technical capability, its service and geographical reach to capitalise on expanding global offshore wind markets
• Provide Tekmar's people with the platform to drive continued success

The presentation will outline how Tekmar's strategy builds on the strong foundations of the business today to further strengthen its leading position in the offshore wind market:

• Leverage the significant market opportunity for Tekmar, with exponential growth in wind capacity over the next decade and beyond
• Leverage the unrivalled breadth and depth of Tekmar's offering in the global offshore energy market
• Diversify further into the offshore wind industry, extending Tekmar's presence across the project lifecycle, including the high growth O&M market
• Invest in targeted initiatives to grow through technology, product and service expansion and by entering new markets   
• Complement the organic growth strategy through targeted M&A, focused on technologies and services that strengthen Tekmar's position in offshore wind

Update on Commercial Activity

As part of the presentation, management will provide an update on commercial activity and outlook since the interim results on 1 June 2021 with growth in the Enquiry Book to £320m and a stable Order Book of £13m supported by £10m of contracts in advanced negotiation. 

Tekmar recently secured a contract valued at approximately £2m to design, engineer and manufacture an Emergency Pipelines Repair System ("EPRS") on behalf of an offshore operator in the Middle East. Due to confidentiality requirements no further details will be issued at this stage.

In addition, negotiations are currently at an advanced stage on four projects, with a combined value of approximately £10 million, to design, engineer, manufacture and deliver subsea asset protection solutions for offshore wind farm projects in Europe, and subsea projects in the Middle East and India. Further information will be shared upon completion of these contracts.

No new material trading information will be disclosed during the presentation with market conditions consistent with the near-term outlook commentary provided by Tekmar Group in the interim results announcement on 1 June 2021.

Alasdair MacDonald, CEO of Tekmar Group said , "We look forward to welcoming investors to our strategy update today and to setting out in more detail how we will deliver on our growth plans. The market outlook for the global offshore wind industry over the next decade provides a major opportunity for Tekmar to further strengthen our industry leading position in offshore wind. The growth opportunity we have ahead is significant. It is now about execution and the team are focused on delivering on the opportunity."

Institutional Investor Event

The Company will host an online event at 2.00pm on Thursday, 22 July 2021 for the institutional investor audience. This event is scheduled to run for 90 minutes, including time for Q&A. Please contact Rhian Powell at [e-mail] or [e-mail] if you are interested in attending this event.

Retail Investor Event

The Company will host a separate online event for the retail investor audience at 4.30pm on Thursday, 22 July 2021. This event is scheduled to run for 90 minutes, including time for Q&A. Please register with PI World at https://bit.ly/Tekmar_CMD_retail if you are interested in attending this event.

A copy of the presentation will be made available on the Company's website after the event.

Enquiries:

Tekmar Group plc Alasdair MacDonald, CEO Derek Bulmer, CFO	[phone]
N+1 Singer (Nominated Adviser and Joint Broker) Rick Thompson / Rachel Hayes	[phone]
Berenberg (Joint Broker) Chris Bowman / Ben Wright / Ciaran Walsh	[phone]
Bamburgh Capital Limited (Financial PR & Investor Relations) Murdo Montgomery	[phone]

About Tekmar Group plc  -  www.tekmargroup.com

Tekmar Group plc's vision is to be the leading provider of technology and services for the global offshore energy markets.  The Group has five primary operating companies; these are Tekmar Energy Limited, Subsea Innovation Limited, AgileTek Engineering Limited, Ryder Geotechnical Limited and Pipeshield International limited.

Tekmar Energy is a global market leader in protection systems for subsea cable, umbilical and flexible pipe. Tekmar Energy has been trusted to protect billions of Euros worth of assets in the offshore wind, oil & gas, wave, tidal and interconnector markets since 1985.

Subsea Innovation is a global leader in the design, manufacture and supply of complex engineered equipment and technology used in the offshore energy market. Its products include large equipment handling systems which operate on the back of pipelay installation vessels; emergency pipeline repair clamps (EPRC) which protect major oil and gas pipelines, and bespoke equipment for use in the construction of offshore energy projects.

AgileTek Engineering is an award-winning subsea engineering consultancy for offshore energy projects. AgileTek helps its clients de-risk projects through advanced computer simulation and analysis.  AgileDat, a division of AgileTek, provides software development, cloud architecture and data analytics services. 

Ryder Geotechnical provides expert geotechnical design and consulting services to the offshore wind and subsea oil and gas sectors. Services include offshore structure foundation design, geohazard assessment and subsea cable routing and burial assessment.

Pipeshield International is a market leading provider of specialised subsea protection solutions in the form of concrete mattresses used for the stabilisation and impact protection of subsea equipment in areas where they cannot be buried and further to limit the development of scour (seabed erosion) particularly local to that of a foundation, pipeline or in marine ports.

Tekmar Energy is headquartered in Newton Aycliffe in the United Kingdom; AgileTek operates from an office in London; Subsea Innovation has its head office and manufacturing centre in Darlington, United Kingdom. Ryder operates in Newcastle and within AgileTek London, Pipeshield headquarters are in Lowestoft with manufacturing in Montrose and Blyth. Tekmar Group plc also has strategic supply bases and representation across Europe, Africa, the Middle East and Asia Pacific.

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