Earnings release
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INICIO | OFERTA PÚBLICA | TSK CLOSES ITS FIRST HALF-YEAR AS A LISTED COMPANY WITH NET PROFIT OF €44.8MILLION TSK closes its first half-year as a listed company with net profit of€44.8 million 11 September, 2026 • Net profit for the first half of 2026 was 34% higherthan for the whole of FY2025.• The company increased EBITDA by 54% to €44.5million and grew revenue by 4% to €480.6 million.• The first results since its IPO in May confirm theguidance, with an EBITDA margin of 9.3%.• TSK reached €6.9 billion in business visibilitythrough its backlog and exclusivity agreements, whileadvancing new international projects across theAmericas, Europe and the Middle East.• The engineering group reaffirms its 2026 guidance,supported by improved margins, cash generation and astronger financial position. Gijón, September 11, 2026.- TSK (BME: TSK), a global engineering and technology group, submitted itsresults for the first half of 2026 to the Spanish National Securities Market Commission (CNMV) on Friday.These are the first results published by the company since its IPO in May. TSK closed the period from January toJune 2026 with attributable net profit of €44.8 million, representing a sixteen-fold increase year-on-year and a34% increase compared with the whole of FY2025. The group generated revenue of €480.6 million, up 4% from the €460.5 million recorded in the first half of2025, while EBITDA increased by 54% to €44.5 million. This operational improvement boosted the EBITDAmargin to 9.3%. The improvement in profitability was accompanied by a significant strengthening of the group’s financialposition. TSK reported a net cash position of €94 million at the end of June, reinforcing its financial capacity tosupport the next stage of growth. Based on these results, TSK believes that first-half performance remains in line with the objectivescommunicated to the market at the time of its IPO and reaffirms its guidance for the full year 2026. €6.9 billion of business visibility In addition to its financial performance, TSK further strengthened visibility over its future activity during theperiod. At the close of the first half, TSK had a backlog of €1.3 billion and €5.6 billion in exclusivityagreements, bringing its total business visibility to €6.9 billion, nearly 40% higher than the €5.0 billion reportedat the end of 2025. TSK’s commercial pipeline also reached €14.9 billion, compared with €10.0 billion at the end of 2025,representing a 50% increase over the last six months. In addition, TSK currently has a further €1.315 billion incontracts at an advanced stage of negotiation. The company has increased the weight of exclusivity agreements within its commercial strategy. This approachenables TSK to become involved in the definition and engineering of highly complex projects from an earlystage and strengthens its position for future contract awards. The portfolio also maintains a strong focus on the group’s strategic areas, with 96% of the backlog and 94% ofexclusivity agreements linked to energy transition and digitalization activities. New international projects Over the past few months, TSK has continued to advance a number of large-scale international projects andopportunities in the fields of POWER generation, infrastructure and digitalization.
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In the United States, the company has been selected as the strategic partner of Fermi America for the initialdevelopment of a 728 MW open-cycle POWER plant in Amarillo, Texas, linked to one of the largest privateenergy and artificial intelligence campuses currently under development in the country. The project incorporatesSiemens Energy equipment and includes a future conversion of the facility to combined-cycle operation. Also in the United States, TSK maintains an exclusivity agreement for a 540 MW combined-cycle plant basedon GE Vernova technology, with the final contract currently under negotiation. In Israel, the company has been selected to develop an 800 MW combined-cycle plant in the Tel Aviv area, alsousing GE Vernova technology. The project is structured as a 50% joint venture under a turnkey contract with anexpected duration of 53 months and represents an investment of approximately US$1 billion. In the Middle East, TSK is advancing a mineral handling project with a capacity of up to 7,000 tonnes per hour.The initial engineering phase has already been completed and the turnkey contract is currently under negotiation. In the digitalization field, the company is also developing a 100 MW data center campus in Paraguay, designedfor artificial intelligence workloads and built to Tier IV standards. The project will be supplied withhydroelectric POWER through a long-term PPA. Finally, the company continues to advance two fertilizer and SAF production projects in Spain and Saudi Arabia,where it will execute all POWER generation facilities and electrical systems. These projects are expected to beready for construction during 2027.