Renk Achieves Record Quarterly Orders but Maintains Steady 2024 Guidance
Renk Group's Financial Performance and Market Outlook
Record-Breaking Quarterly Order Intake
Aug 6 (Reuters) - German defence supplier Renk Group AG booked its strongest quarterly order intake on record between April and June, lifting its backlog to 7.4 billion euros ($8.55 billion), the company said on Thursday.
Steady Full-Year Guidance Amid Market Uncertainty
The company held its full-year guidance steady as investors weigh how quickly Europe's rearmament boom will translate into earnings and cash flow.
Key Products and Second Quarter Highlights
Renk, which makes transmissions for the Leopard 2 and Puma armoured vehicles as well as naval propulsion systems, said order intake in the second quarter was the highest ever recorded for the company in a single quarter, at 612.8 million euros.
First-Half Performance and Demand Drivers
That lifted first-half order intake to around 1.2 billion euros, supported by strong demand from defence customers and a book-to-bill ratio of 1.9 times.
Investor Sentiment and Market Challenges
The results come as Renk shares have fallen more than 45% from their October 2025 peak despite a surge in orders. Investors are increasingly demanding evidence that Europe's defence spending boom is translating into earnings and cash flow, rather than simply larger order books.
Additional Information
($1 = 0.8659 euros)
(Reporting by Maria Rugamer and Tristan Veyet in Gdansk; Editing by Matt Scuffham)