Defense Industry
TKMS reports record order backlog of €20.1 billion, as Burkhard expects profitable growth to continue
German shipbuilder TKMS says its order backlog reached a record €20.1 billion at the end of June. CEO Oliver Burkhard expects profitable growth to continue, with frigates and submarines in Germany, India, Canada and Brazil. TKMS has also offered Athens the U212CD submarine.
German shipbuilding group TKMS said its order backlog reached a record €20.1 billion at the end of June. Chief executive Oliver Burkhard said the company expects to continue profitable growth and expand internationally, according to Defence Industry Europe. “Since our listing, both record order backlogs and our revenue and profitability have risen significantly,” he said. “We expect this trend to continue.”
TKMS recorded a significant rise in revenue and adjusted earnings before interest and taxes in the first nine months of the current financial year, which it attributed to project progress and better operating performance. Burkhard spoke after the company won the “Outstanding IPO” award at IPO Night 2026 in Frankfurt, organised by Deutsche Börse with the Weimer Media Group. The company says its independence and direct access to capital markets have opened new growth possibilities. TKMS listed in October 2025 and joined the MDAX index a few weeks later.
Frigates and submarines in four countries
In July TKMS signed a contract for four MEKO A-200 DEU frigates, with an option for four more. In October the Bundestag Budget Committee approved the four additional ships, bringing the German Navy’s anti-submarine warfare frigates to eight. A consortium majority-owned by TKMS is the only candidate in the German process for the future F127 air-defence frigate.
Abroad, the company is in final negotiations with India for six submarines, with an option for three more. It has been selected as preferred supplier for Canada’s patrol submarine programme, which envisages up to 12 boats. In Brazil it signed a memorandum in April with the Ministry of Defence and local partners for four more Tamandaré-class frigates. These programmes have not yet become shipbuilding contracts and are not included in the current order portfolio. TKMS employs more than 10,200 people and has shipyards in Kiel, Wismar and Itajaí in Brazil. It works in submarines, surface ships, naval electronics and security technologies.
The Greek connection
The Hellenic Navy operates Type 214 submarines of the “Papanikolis” class, designed by HDW, which today belongs to TKMS. For the next step the company has offered Athens the U212CD submarine, as was evident in the meeting between German Defence Minister Boris Pistorius and Greek Defence Minister Nikos Dendias.
