Earnings release
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TH TKH GROUP N.V. – PRESS RELEASE H1 2026 Results Strong performance continues in Q2 2026 Highlights Q2 2026 Total turnover increased by 18.0 % organically to € 507.6 million , with Automation growing by 5.9 % and Electrification by 36.9 % • Adjusted EBITA increased by 67.5 % organically to € 67.3 million Highlights H1 2026 • Total turnover increased organically by 14.0 % to € 955.9 million , with Automation growing by 3.4 % and Electrification by 33.3 % • Added value of 50.2 % ( H1 2025 : 50.7 % ) . Adjusted EBITA increased by 43.5 % organically to € 113.7 million , with Automation up by 3.0 % and Electrification up 160.4 % . ROS at 11.9 % ( H1 2025 : 9.3 % ) Innovation rate at 16.1 % of turnover • Order intake of € 959.3 million , resulting in an order book of € 1,031.2 million ( December 31 , 2025 : € 1,027.8 million ) Separation process Electrification on track Outlook Outlook reiterated : TKH expects organic growth in both turnover and Adjusted EBITA in 2026 Key figures ( in € million unless otherwise stated ) Q2 2026 Q2 2025 H1 H1 2026 2025 507.6 438.3 Turnover 955.9 858.1 A in % 11.4 % Organic A in % 14.0 % Added Value 50.2 % 50.7 % 83.1 56.3 Adjusted EBITDA 1 ) 145.1 109.9 32.0 % 34.1 % 67.3 40.2 Adjusted EBITA 1 ) 113.7 80.2 41.7 % 43.5 % Adjusted net profit 2 ) 56.6 36.0 Net profit 3 ) 47.3 13.6 13.3 % EPS ( in € ) 9.2 % ROS 1.19 0.34 11.9 % 9.3 % ROCE 15.8 % 13.4 % Order book 1,031.2 1,080.2 1 ) Adjusted EBITDA and EBITA excludes one - off expenses of € 4.5 million in H1 2026 ( H1 2025 : € 16.3 million ) related to acquisitions and divestments and restructuring costs . 2 ) Adjusted net profit is the net profit before amortization of intangible non - current assets related to acquisitions and one - off income and expenses attributable to shareholders . 3 ) H1 2026 net profit includes an impairment of € 1.2 million ( H1 2025 : € 4.4 million ) and a one - off profit from divestment of € 2.8 million . ( H1 2025 : nil ) . For further details , including the calculations on organic turnover and Adjusted EBITA growth , see the " Alternative Performance Measures " included in the appendix of this press release . 1/22
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TKH GROUP N.V. – PRESS RELEASE 2/22 Alexander van der Lof, CEO of TKH: “During the second quarter of 2026, we made significant financial and operational progress. We achieved an 18% increase in organic turnover and a 67% increase in EBITA, supported by t he continued strong performance of our Vision Technology and Electrification business. Strong demand for onshore energy, a good orderbook for offshore energy as well as the measures taken to increase the operational output of our Eemshaven plant, contributed to the improved performance. The Automation business also continued t o grow, driven by Vision Technology. We particularly benefited from strong demand in semiconductors and consumer electronics. Machine Vision’s order book grew further , positioning the business for growth. Automated Machinery’s performance continued to be impacted by the low order intake for Tire Building systems in the previous quarters. Coupled with the improved performance in Digitalization, this resulted in a 14.0% increase in turnover in the first half of 2026 and growth of over 43 .5% in EBITA. During this period, we have also taken further steps in our separation process . We are now structuring our teams for both businesses and have adjusted our reporting structure ahead of the intended separation. For FY 2026, we reiterate our expectation s for organic turnover and EBITA growth. With the anticipated separation and the intended further divestments, TKH is entering an exciting new chapter, building on its long, trusted heritage. With a robust strategic, financial , and sustainable foundation, TKH will continue to build value in both the Automation and the Electrification activities.” Progress on separation and update on medium-term guidance Since the Capital Markets Day in September 2025, we have made good progress on the separation process to create two separate businesses for Automation and Electrification . Going forward, these activities will be reported in separate reporting segments : “Automation”, compr ising Vision Technology and Automated Machinery and “Electrification” comprising offshore energy, onshore energy and specialty cables . The activities to be divested, including Digitalization, ha ve been regrouped under the “Other” segment. For an overview, please see page 16 of this press release and the “Financial Overview” section on the TKH website. Medium-term guidance for Electrification In preparation for the separation of the Electrification activities, TKH is providing medium-term guidance to the market for Electrification on a standalone basis. This guidance supersedes and replaces all the provis ional information previously disclosed by TKH that may be attributable to the Electrification activities, including the 2028 targets provided at the Capital Markets Day on 25 September 2025. Going forward, focus will be on EBITDA as a key metric for these activities, rather than EBITA, in line with the common practice for these activities. Over the medium term the following is targeted: 1) The organic revenue growth (CAGR) is based on the realized revenue of €604.2 million for the 12 months ended June 30, 2026. (realized revenue for the 12 months ended June 30, 2025: €445.9 million). The 12 months Adjusted EBITDA for this period was €73.8 million (Adjusted EBITDA 12 months ended June 30, 2025: €45.3 million). Segment Organic revenue growth (CAGR) Adjusted EBITDA margin Electrification > 9% 1) > 19.0%
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TKH GROUP N.V. – PRESS RELEASE 3/22 Revenue guidance has been updated, reflecting a robust order backlog and strong er demand for Medium Voltage and High Voltage (HV) cables. Margin expansion is expected to be driven primarily by operational efficiencies inclusive of the Eemshaven plant and a favorable sales mix from amongst others HV cable projects within the Onshore Energy segment. Capitalize & Execute 2028 targets for Automation The Capitalize & Execute 2028 targets for Automation, as presented at TKH’s Capital Markets Day on 25 September 2025, remain unchanged. ESG During the first half of 2026, TKH made progress on its environmental, social, and governance (ESG) objectives, remaining on track to achieve its long-term sustainability targets. Turnover related to the Sustainable Development Goals (SDGs) reached 75%. Our company VMI was awarded a Platinum EcoVadis Medal for its progress toward sustainability, placing it among the top 1% most sustainable companies worldwide. During the first half of the year, TKH initiated a comprehensive climate-related resilience analysis, incorporating forward-looking scenario modeling to evaluate the exposure of i ts assets and operations to transition risks and opportunities. Financial highlights Q2 2026 Turnover in Q2 2026 amounted to €507.6 million, a 18.0% organic increase in turnover on Q2 2025. Compared to Q2 202 5, divestments had a negative 1.9% effect on turnover, while currency effects accounted for a 0.2% decrease. Both Automation and Electrification recorded organic turnover growth during the quarter, up by 5.9% and 36.9% respectively. Within Automation, Vision Technology showed 16.1% organic growth i n turnover, while Automated Machinery recorded a 5.5% organic decline compared to Q2 2025. Adjusted EBITA amounted to € 67.3 million, a 67.5% organic increase from Q2 2025. Automation’s Adjusted EBITA showed marked organic growth compared to Q2 202 5, as well as sequential quarterly growth compared to Q1 202 6. Electrification’s Adjusted EBITDA also record ed strong organic growth compared to Q2 2025, as well as sequential quarterly growth compared to Q1 2026. Order intake in Q2 202 6 reached €508.1 million (Q2 202 5: €381.8 million), and ROS increased to 13.3% (Q2 2025: 9.2%). Financial developments H1 2026 Turnover in H1 2026 amounted to €955.9 million, representing organic growth of 14.0% (H1 2025: €858.1 million). Divestments reduced turnover by 1.9%, while currency effects had a negative impact of 0.6%. Order intake in H1 2026 amounted to € 959.3 million (H1 2025: €803.3 million), resulting in an order book as of June 30, 2026 of €1,031.2 million (December 31, 2025: €1,027.8 million). Added value amounted to 50.2% in H1 202 6 (H1 2025: 50.7%). The change in product mix, with a larger contribution by Electrification, resulted in a lower added value as a percentage of turnover, although Electrification’s added value improved compared to H1 202 5. Operating expenses (excluding amortization and impairments) increased by 3.3% compared to H1 202 5, mainly due t o turnover-related costs. In addition, H1 2025 included depreciation on the Eemshaven factory for only one quarter. Divestments had a net negative impact of 3.2%. Segment Organic revenue growth (CAGR) Adjusted EBITDA margin Automation 5-7% 17-19%
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TKH GROUP N.V. – PRESS RELEASE 4/22 As a result, Adjusted EBITA increased by 43.5% organically to €113.7 million in H1 2026 (H1 2025: €80.2 million). ROS increased to 11.9% (H1 2025: 9.3%). One-off expenses of € 4.5 million were recorded in H1 202 6, mainly relating to acquisitions and divestments, and some restructuring costs (H1 202 5: one-off expense of € 16.3 million). An impairment of €1.2 million was recognized, primarily due to portfolio rationalizations. Net interest expenses decreased to €13.0 million (H1 2025: €13.3 million), due to lower interest rates and lower net debt. The exchange rate difference amounted to a negative €4.2 million (compared to €1.9 million in H1 202 5), due to the strengthening of the euro against the US dollar and Chinese yuan. The normalized effective tax rate was lower at 24.2% in H1 2026 compared to 25.6% in H1 2025. Net profit before amortization and one -off income and expenses attributable to shareholders increased by 57.3% to € 56.6 million (H1 202 5: € 36.0 million), mainly due to the higher Adjusted EBITA. Net profit amounted to € 47.3 million (H1 2025: €13.6 million), including a € 2.8 million profit contribution from the Alphatronics divestment. Net interest-bearing debt according to the bank covenants increased by €41.0 million from year-end 2025 to €502.4 million on June 30, 2026. Items affecting the debt level include an increase in working capital (€46 million), net investments in property, plant , and equipment (€29 million), investments in intangible assets (€29 million), and dividends paid (€54 million). Cash flow from operating activities amounted to €75.4 million (H1 202 5: €41.2 million). The net debt/EBITDA ratio was 1.8 (H1 2025: 2.6), which is within the financial ratio agreed with our banks. Solvency improved to 40.5% (H1 2025: 36.8%). As of June 30, 2026, TKH employed a total of 6,633 FTEs (December 31, 2025: 6,759 FTEs), of which 482 were temporary employees (December 31, 2025: 455 FTEs). Developments by segment AUTOMATION Key figures (in € million unless otherwise stated) In H1 202 6, Automation turnover grew organically by 3.4% to € 486.1 million. While Vision Technology recorded strong growth in its order book, the total order book for Automation decreased to €429.3 million (December 31, 2025: €492.9 million), reflecting the lower order book in Automated Machinery. Added value remained stable. The Adjusted EBITA increased by 3.0% to €89.5 million. ROS for H1 2026 amounted to 18.4% (H1 2025: 18.6%). H1 2026 H1 2025 Δ in % Organic Δ in % Turnover 486.1 474.6 2.4% 3.4% Added Value 58.6% 58.8% Adjusted EBITDA 101.3 99.6 1.6% 3.2% Adjusted EBITA 89.5 88.2 1.5% 3.0% ROS 18.4 18.6% Order book 429.3 561.6
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TKH GROUP N.V. – PRESS RELEASE 5/22 Vision Technology Key figures (in € million unless otherwise stated) In H1 2026, Vision Technologies’ turnover grew organically by 12.1% to € 270.0 million. The order book increased to €170.1 million (December 31, 202 5: €125.8 million). Added value increased marginally from 62.6% to 62.7%. Higher turnover, together with an increase in added value, resulted in a 27.5% organic increase in Vision systems’ Adjusted EBITA to €54.5 million. ROS for H1 2026 amounted to 20.2% (H1 2025: 17.8%). Security Vision’s growth in H1 2026 was driven by the delivery of several larger projects, including parking-related ones in the US and other regions. In Machine Vision, both 2 D vision and 3D vision recorded strong growth compared to H1 2025 . Machine Vision benefited from strong demand from the consumer electronics, battery, factory automation, and semiconductor markets , with APAC making a particularly strong contribution. The integration of the 2D brands is well on track , with a successful launch of all 2D branding activities to the one brand Allied Vision . Expectations for Machine Vision are positive for H2 2026, supported by a strong order book. Automated Machinery Key figures (in € million unless otherwise stated) As anticipated, Automated Machinery’ s performance in H1 2026 was affected by the lower order intake in Tire Building systems in previous quarters. In H1 2026, turnover decreased organically by 5.7% to € 218.5 million. The order book decreased to € 259.2 million (December 31, 2025: €367.1 million). Added value decreased from 54.2% to 52.9% , with added value in H1 2025 positively impacted by the completion of several projects. Lower turnover, together with the decline in added value, resulted in a 21.1% organic decrease in the Adjusted EBITA to €35.0 million. ROS amounted to 16.0% in H1 2026 (H1 2025: 19.2%). Current geopolitical circumstances, high energy costs, and tariff uncertainties continue to delay order placements for tire building machines by tire manufacturers. The long-term drivers for advanced Tire Building systems remain intact as the need for greater production flexibility, increased sustainability, and higher levels of automation will fuel future demand for TKH’s highly automated Tire Building systems. H1 2026 H1 2025 Δ in % Organic Δ in % Turnover 270.0 245.2 10.1% 12.1% Added Value 62.7% 62.6% Adjusted EBITA 54.5 43.7 24.8% 27.5% ROS 20.2% 17.8% Order book 170.1 141.4 H1 2026 H1 2025 Δ in % Organic Δ in % Turnover 218.5 231.8 -5.7% -5.7% Added Value 52.9% 54.2% Adjusted EBITA 35.0 44.5 -21.4% -21.1% ROS 16.0% 19.2% Order book 259.2 420.2
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TKH GROUP N.V. – PRESS RELEASE 6/22 ELECTRIFICATION As part of the intended carve-out of the Electrification activities , and in line with peers in the Electrification segment, TKH will use EBITDA rather than EBITA as a key metric for these activities. Key figures (in € million unless otherwise stated) 1) Intercompany turnover between Offshore Energy, Onshore Energy and Specialty Cables has been eliminated. Turnover in Electrification increased organically by 33.3% to €328.2 million in H1 2026. In Q2 2026, turnover increased organically by 36.9% compared to Q2 2025 and by 19.2% sequentially compared to Q1 2026. The order book grew to €507.8 million (December 31, 2025: €478.2 million). Added value as a percentage of t urnover increased from 39.1% to 40.1% in H1 2026, due to a higher share of inter-array cables in the product mix. As a result of the strong growth in turnover, Adjusted EBITDA increased by 90.0% organically to €41.5 million (H1 2025: €21.9 million). Depreciation in H1 2026 increased to €15.1 million (H1 2025: €11.7 million), reflecting timing of the start-up of Eemshaven. Adjusted EBITDA showed also a sequential quarterly growth compared to Q1 2026. This brought the LTM Adjusted EBITDA to €73.8 million. The EBITDA margin improved to 12.6% (H1 2025: 8.9%). Offshore Energy’s very strong 81.6% growth in turnover was brought about by the strong improvement in the output of inter -array cables at th e Eemshaven plant during H1 2026 , as production output and yields improved considerably. As a result of the strong increase in turnover, both added value and Adjusted EBITDA increased further. The current pipeline consists of 92 projects representing >14,400km of inter-array cable. Onshore Energy benefited from efficiency improvements in the roll-out of networks in the Netherlands, following the removal of a number of regulatory constraints , which resulted in higher installation volumes for energy cables. The current value of signed framework agreements amounts to €1.4 billion, including the recently signed €650 million framework contract with Dutch Distribution System Operator Alliander. These framework agreements are not included in the order book of €507.8 million as of June 30, 2026. Specialty Cables and customized connectivity systems for the machine -building, robotics, and medical industries were affected by the weak German economy. Despite these market conditions, turnover increased slightly. TKH expects Electrification’s improved operational performance recorded during the first quarters of 2026 to continue in H2. H1 2026 H1 2025 Δ in % Organic Δ in % Turnover 1) 328.2 246.3 33.3% 33.3% Offshore Energy 96.6 53.2 81.6% Onshore Energy 187.0 148.1 26.4% Specialty Cables 45.9 45.0 2.0% Added Value 40.1% 39.1% Adjusted EBITDA 41.5 21.9 89.5% 90.0% Adjusted EBITDA margin 12.6% 8.9% Adjusted EBITA 26.4 10.2 159.5% 160.4% ROS EBITA 8.0% 4.1% Order book 507.8 455.4
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TKH GROUP N.V. – PRESS RELEASE 7/22 OTHER Key figures (in € million unless otherwise stated Turnover in Other increased organically by 15.6% to €144.9 million in H1 2026. Divestments reduced turnover by 11.9%. The divestments relate to Dewetron in H2 2025 and Alphatronics in H1 2026. Digitalization (75% of “Other” turnover) delivered significant growth in both turnover and EBITA , driven by strong global demand for optical fibers produced at TKH’s facilities in China, as well as the increased output in the Polish factory serving the European fiber optic cable market. The growth of global demand has been driven by substantial investments in AI and the defense industry, resulting in favorable market prices. Outlook TKH reiterates its outlook communicated at the publication of its Q1 2026 results. Barring unforeseen circumstances, TKH expects organic growth in both turnover and Adjusted EBITA in 2026. The presentation of the half year results can be followed via live webcast at 10:00 CET today, August 11, 2026 (www.tkhgroup.com). For further information: Jacqueline Lenterman - Investor Relations j.lenterman@tkhgroup.com | Tel: +31(0)53 5732901 Financial Calendar September 3, 2026 EGM November 10, 2026 Market Update Q3 2026 March 4, 2027 Publication Full Year Results 2026 About TKH TKH is a leading technology company specializing in the creation of innovative, customer -centric systems that drive success within Automation and Electrification. With a workforce of more than 7,000 people, we pursue sustainable growth in a culture of entrepreneurship, working closely with customers to create one -stop-shop, plug -and-play innovations. By integrating hardware, software, and AI with customer -focused insight, our highly differentiated technologies provide unique answers to real-world challenges. In doing so, we work to make the world better by creating ever more efficient and more sustainable systems. Listed on Euronext Amsterdam (TICKER: TWEKA), we operate globally and focus our growth across Europe, North America, and Asia. H1 2026 H1 2025 Δ in % Organic Δ in % Turnover 144.9 140.2 3.4% 15.6% Added value 44.0% 43.3% Adjusted EBITA 10.7 -5.6 ROS 7.4% -4.0% Order book 94.1 63.1
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TKH GROUP N.V. – PRESS RELEASE 8/22 For further information, please visit www.tkhgroup.com This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Disclaimer Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward -looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially from those expressed or implied in the forward -looking statements. Forward-looking statements are typically identified by the use of terms s uch as "may," "will," "should," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "potential," or the negative of such terms and other comparable terminology. The forward-looking statements are based on our current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptio ns, our actual results and performance could differ materially from those set forth in the forward-looking statements.
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TKH GROUP N.V. – PRESS RELEASE 9/22 Consolidated profit and loss account in thousands of euros 1st half year 2026 1st half year 2025 Total turnover 955,879 858,144 Raw materials, consumables, trade products and subcontracted work 475,762 434,912 Personnel expenses 251,524 245,825 Other operating expenses 87,948 84,308 Depreciation and result on divestment of property, plant and equipment 31,467 29,136 Amortization 32,251 30,241 Impairments 1,155 4,393 Total operating expenses 880,107 828,815 Operating result 75,772 29,329 Financial income 503 687 Financial expenses -13,524 -14,026 Exchange differences -4,183 1,855 Share in result of associates 92 -160 Result on sale of associates 2,823 0 Fair value changes of financial liability for earn-out and put options of shareholders of non-controlling interests -71 512 Result before tax 61,412 18,197 Tax on result 14,147 4,576 Net result 47,265 13,621 Attributable to: Shareholders of the company 47,298 13,673 Non-controlling interests -33 -52 Net result 47,265 13,621 Earnings per share attributable to shareholders Basic earnings per share (in €) 1.19 0.34 Diluted earnings per share (in €) 1.18 0.34
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TKH GROUP N.V. – PRESS RELEASE 10/22 Consolidated statement of comprehensive income in thousands of euros 1st half year 2026 1st half year 2025 Net result 47,265 13,621 Items that may be reclassified subsequently to profit or loss (net of tax) Currency translation differences 8,568 -27,886 Currency translation differences in other associates 29 -95 Effective part of changes in fair value of cash flow hedges (after tax) -2,137 92 6,460 -27,889 Items that will not be reclassified subsequently to profit or loss (net of tax) Actuarial gains/(losses) 0 0 0 0 Other comprehensive income (net of tax) 6,460 -27,889 Comprehensive income for the period (net of tax) 53,725 -14,268 Attributable to: Shareholders of the company 53,761 -14,248 Non-controlling interests -36 -20 Total comprehensive income for the period (net of tax) 53,725 -14,268
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TKH GROUP N.V. – PRESS RELEASE 11/22 Consolidated balance sheet in thousands of euros 30-06-2026 31-12-2025 Assets Non-current assets Intangible assets and goodwill 594,149 597,686 Property, plant and equipment 502,610 501,105 Right-of-use assets 82,845 77,783 Associates 27,749 27,664 Other receivables 641 628 Deferred tax assets 17,497 16,797 Total non-current assets 1,225,491 1,221,663 Current assets Inventories 358,885 342,316 Trade and other receivables 305,362 253,496 Contract assets 214,562 198,467 Contract costs 4,451 5,549 Current income tax 3,085 5,554 Cash and cash equivalents 114,548 125,325 Total current assets 1,000,893 930,707 Assets held for sale 0 0 Total assets 2,226,384 2,152,370 Equity and liabilities Group equity Shareholders' equity 900,870 899,830 Non-controlling interests 47 83 Total group equity 900,917 899,913 Non-current liabilities Interest-bearing loans and borrowings 641,008 565,599 Deferred tax liabilities 52,980 53,798 Retirement benefit obligation 2,617 2,630 Other non-current financial liabilities 1,763 3,001 Provisions 11,197 11,816 Total non-current liabilities 709,565 636,844 Current liabilities Interest-bearing loans and borrowings 70,566 109,894 Trade payables and other payables 404,934 341,863 Contract liabilities 109,431 137,632 Current income tax liabilities 13,643 8,197 Other financial liabilities 1,874 1,839 Provisions 15,454 16,188 Total current liabilities 615,902 615,613 Liabilities directly associated with assets held for sale 0 0 Total equity and liabilities 2,226,384 2,152,370
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TKH GROUP N.V. – PRESS RELEASE 12/22 Consolidated statement of changes in group equity in thousands of euros Share capital Share premium Legal reserve Translation reserve Cash flow hedge reserve Retained earnings Unappro- priated profit Total share- holders' equity Non- controlling interests Total group equity Balance on January 1, 2025 10,554 85,021 120,398 22,584 -1,916 546,777 99,561 882,979 108 883,087 Net result 13,673 13,673 -52 13,621 Other comprehensive income -28,013 92 -27,921 32 -27,889 Total comprehensive income 0 0 0 -28,013 92 0 13,673 -14,248 -20 -14,268 Appropriation profit last year 99,561 -99,561 0 0 Dividends -59,931 -59,931 0 -59,931 Share and option schemes 1,593 1,593 0 1,593 Purchased shares for share and option schemes -1,019 -1,019 0 -1,019 Sold shares for share and option schemes 93 93 0 93 Change in legal reserve for participations 1,433 -1,433 0 0 Capitalized development costs 4,197 -4,197 0 0 Balance on June 30, 2025 10,554 85,021 126,029 -5,429 -1,824 581,443 13,673 809,467 88 809,555 Balance on January 1, 2026 10,554 85,021 123,503 -3,259 3,575 586,064 94,372 899,830 83 899,913 Net result 47,298 47,298 -33 47,265 Other comprehensive income 8,600 -2,137 6,463 -3 6,460 Total comprehensive income 0 0 0 8,600 -2,137 0 47,298 53,761 -36 53,725 Appropriation profit last year 94,372 -94,372 0 0 Dividends -53,983 -53,983 0 -53,983 Share and option schemes 1,296 1,296 0 1,296 Purchased shares for share and option schemes -1,091 -1,091 0 -1,091 Sold shares for share and option schemes 1,058 1,058 0 1,058 Change in legal reserve for participations -31 31 0 0 Capitalized development costs 2,765 -2,765 0 0 Balance on June 30, 2026 10,554 85,021 126,237 5,341 1,438 624,981 47,298 900,871 47 900,918
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TKH GROUP N.V. – PRESS RELEASE 13/22 Consolidated cash flow statement in thousands of euros 1st half year 2026 1st half year 2025 Cash flow from operating activities Operating result 75,772 29,329 Depreciation, amortization and impairment 64,950 63,805 Share and option schemes not resulting in a cash flow 1,296 1,593 Result on disposals -29 -30 Changes in provisions -1,487 -3,794 Changes in working capital -46,139 -22,384 Cash flow from operations 94,363 68,519 Interest received 503 687 Interest paid -12,882 -15,617 Income taxes paid -6,561 -12,344 Net cash flow from operating activities (A) 75,423 41,245 Cash flow from investing activities Investments in intangible assets and goodwill -29,283 -30,755 Purchases of property, plant, and equipment -29,588 -40,203 Disposals of property, plant, and equipment 316 424 Dividends received from associates 36 0 Proceeds from/(payments of) loans -13 134 Divestment of subsidiaries less transferred cash 4,809 0 Net cash flow from investing activities (B) -53,723 -70,400 Cash flow from financing activities Dividends paid -53,983 -59,931 Settlement of financial liabilities regarding put options of non-controlling interests and earn-out -1,274 -56 Purchased shares for share and option schemes -1,091 -1,019 Sold shares for share and option schemes 1,058 93 Payment of lease liabilities -7,796 -8,797 Proceeds from long-term debts 70,204 84,840 Repayments of other long-term debts -18 -822 Change in short-term borrowings -41,073 -11,321 Net cash flow from financing activities (C) -33,973 2,987 Net increase/(decrease) in cash and cash equivalents (A+B+C) -12,273 -26,168 Exchange differences 1,496 -6,821 Change in cash and cash equivalents -10,777 -32,989 Cash and cash equivalents at January 1 125,325 127,279 Cash and cash equivalents at June 30 114,548 94,290 Cash at companies in assets held for sale 0 -1,471 Cash and cash equivalents in balance sheet 114,548 92,819
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TKH GROUP N.V. – PRESS RELEASE 14/22 Notes to the Interim Financial Report Accounting principles for financial reporting The accounting policies for the valuation of asse ts and liabilities and the determination of the result (hereafter “valuation principles ”) are the same as the accounting principles applied to the 2025 consolidated financial statements. The a nnual accounts have been prepared in accordance with International Financial Reporting Standards as adopted by the European Union (EU -IFRS) and with Section 2: 362 sub 9 of the Dutch Civil Code (Dutch Civil Code). The interim financial report has been prepared in accordance with IAS 34 Interim Financial Reporting. It does not include all of the information required for full annual financial statements and should be read in conjunction with the group’s 2025 consolidated financial statements. As disclosed in the 2025 financial statements, we reassessed the presentation of cash and current borrowings in the consolidated cash flow statement. As a result, the comparative cash flow statement for H1 2025 has been restated. The restatement includes a lower cash flow from financing activities related to proceeds from short-term borrowings of €10.5 million. Judgments The preparation of the consolidated interim financial statements requires management to make judgments, estimates , and assumptions that affect the application of accounting policies and the reported value of assets and liabilities, and income and expenses. Actual results may differ from these estimates. Management uses the same main sources for estimates as those used in preparing the 2025 consolidated financial statements. Segmentation Following the announcement a t the Capital Markets Day in September 2025, TKH reports the Automation, Electrification and Other businesses as separate segments . These segments are explained below. Automation This segment consists of Vision Technology and Automated Machinery, which largely correspond to the previous Smart Vision systems and Smart Manufacturing systems segments. Activities that are to be divested and that previously formed part of Smart Vision and/or Smart Manufacturing systems have been moved to the “Other” segment. Electrification This segment consists of the offshore energy cables, onshore energy cables and specialty cables businesses. These activities were previously part of the Smart Connectivity systems segment. Other This includes the Digitalization business, as well as a number of other, smaller activities previously included in the Smart Vision, Smart Manufacturing and Smart Connectivity systems segments. In March 2025, TKH announced its intention to divest these activities, which together represent approximately €250 million in turnover. As of January 2026, t he internal and external segment reporting has followed this structure . For an overview of historical segmentations, please refer to page 16 of this press release or the “Financial Overview” section on the TKH website.
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TKH GROUP N.V. – PRESS RELEASE 15/22 Divestments In early March 2026, TKH Group divested Alphatronics BV. The company, which is part of TKH’s Vision Technology segment, recorded a turnover of €8.1 million in 2025 . It employs 21 FTEs at its office in Nijkerk, the Netherlands. The total one -off net profit from the divestment was €2. 8 million. Alphatronics’ results were deconsolidated on 1 March 2026. Statutory capital As of December 31, 2025, t he number of outstanding (depositary receipts of) shares amounted to 39,884,014. Due to the exercise of option rights and share schemes, a balance of 31,160 (depositary receipts of) shares was sold in the first half of 202 6. As a result, the number of (depositary receipts of) shares outstanding with third parties as of June 30, 202 6 was 39,915,174. The number of own shares held by TKH amounts to 2, 287,255 as of June 30, 2026 (December 31, 202 5: 2,318,415), which represents 5.42% (2025: 5.49%) of the total outstanding shares. Dividend At the 2026 General Meeting of Shareholders, the dividend for 2025 was declared at €1. 35 per (depositary receipts of) ordinary share. The dividend on the priority shares was declared at €0.05 per share. The total amount in dividends paid in the first half of 2025 was €5 3,983,000, which was charged to the other reserves (H1 2025: €59,931,000). Order book The following table shows the expected future revenue regarding contractual performance obligations that were not (or were only partially) completed on the balance sheet date: in thousands of euros June 30, 2026 December 31, 2025 June 30, 2025 Expected to be recognized as revenue within 1 year 906,537 825,100 841,066 Expected to be recognized as revenue between 1 and 2 years 112,842 169,832 201,698 Expected to be recognized as revenue after 2 years 11,789 32,913 37,400 Total 1,031,168 1,027,845 1,080,164 in thousands of euros June 30, 2026 December 31, 2025 June 30, 2025 Automation 429,338 492,926 561,609 Electrification 507,755 478,151 455,411 Other 94,075 56,767 63,144 Total 1,031,168 1,027,845 1,080,164 Contingent liabilities As reported in the 2025 consolidated financial statements, t he contingent liabilities that are not reflected in the balance sheet have not essentially changed in the first half of 2026.
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TKH GROUP N.V. – PRESS RELEASE 16/22 Segmented information in thousands of euros (unless stated otherwise) Automation Electrification Other Support and eliminations Total H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 Total turnover 486,051 474,558 328,245 246,257 144,887 140,173 -3,304 -2,844 955,879 858,144 Raw materials, consumables, trade products and subcontracted work 201,223 195,389 196,654 149,953 81,190 79,518 -3,306 -1,548 475,761 423,312 Added value 284,828 279,169 131,591 96,304 63,697 60,655 2 -1,296 480,118 434,832 Added value in % 58.6% 58.8% 40.1% 39.1% 44.0% 43.3% 50.2% 50.7% Adjusted EBITDA 101,267 99,623 41,487 21,888 14,949 545 -12,582 -12,119 145,121 109,937 Depreciation 11,734 11,390 15,136 11,735 4,221 6,178 376 405 31,467 29,708 Adjusted EBITA 89,533 88,233 26,351 10,153 10,728 -5,633 -12,958 -12,524 113,654 80,229 ROS 18.4% 18.6% 8.0% 4.1% 7.4% -4.0% 11.9% 9.3% One-off income and expenses -440 365 0 -11,600 -232 -1,104 -3,804 -3,928 -4,476 -16,267 Amortization -28,659 -26,593 -1,267 -774 -2,224 -2,768 -101 -106 -32,251 -30,241 Impairments -1,155 -344 0 -12 8 -4,037 -8 -1 -1,155 -4,393 Segment operating result 59,279 61,661 25,084 -2,232 8,280 -13,543 -16,871 -16,558 75,772 29,328 Other information Employees (FTE) 3,554 3,572 1,408 1,353 1,083 1,274 106 94 6,151 6,293 Orderbook 429,338 561,609 507,754 455,411 94,075 63,143 1 1 1,031,168 1,080,164 The Automation segment can be specified as follows: in thousands of euros (unless stated otherwise) Vision Technology Automated Machinery Other and eliminations Automation H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 H1 2026 H1 2025 Total turnover 269,985 245,151 218,480 231,789 -2,414 -2,382 486,051 474,558 Raw materials, consumables, trade products and subcontracted work 100,706 91,605 102,931 106,166 -2,414 -2,382 201,223 195,389 Added value 169,279 153,546 115,549 125,623 0 0 284,828 279,169 Added value in % 62.7% 62.6% 52.9% 54.2% 58.6% 58.8% Adjusted EBITDA 62,031 51,208 39,236 48,416 0 -1 101,267 99,623 Depreciation 7,524 7,518 4,210 3,873 0 -1 11,734 11,390 Adjusted EBITA 54,507 43,690 35,026 44,543 0 0 89,533 88,233 ROS 20.2% 17.8% 16.0% 19.2% 18.4% 18.6% One-off income and expenses -440 365 0 0 0 0 -440 365 Amortization -22,189 -20,982 -6,470 -5,611 0 0 -28,659 -26,593 Impairments -524 -310 -630 -34 -1 1 -1,155 -344 Segment operating result 31,353 22,761 27,926 38,898 0 2 59,279 61,661 Other information Employees (FTE) 1,997 1,978 1,557 1,594 0 0 3,554 3,572 Orderbook 170,149 141,369 259,189 420,240 0 0 429,338 561,609 Raw materials, consumables, trade products, and subcontracted work, EBITDA and Adjusted EBITA are presented excluding one-off income and expenses. Overview of alternative performance measures (APMs) For a complete overview of our APMs and definitions, please refer to the 2025 annual report published on our website. An overview of the reconciliation of the APMs used in this press release is included in the appendix to this press release. Events after the balance sheet date There have been no events in the past interim period that are material to the understanding of this interim report. Risks The 2025 annual report describes in detail certain risk categories and risk factors that could have a (negative) impact on TKH’s financial position and results. On June 30, 202 6, these risk categories and risk factors were re-analyzed, and it was concluded that they are still relevant.
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TKH GROUP N.V. – PRESS RELEASE 17/22 Executive Board declaration This report contains the interim financial report of TKH Group N.V. The interim financial report, which ended on June 30, 202 6, consists of the condensed consolidated interim financial statements, the interim director’s report a nd Executive Board declaration. The information in this interim financial report is unaudited. The condensed consolidated interim financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with TKH’s consolidated financial statements for the year ended December 31, 202 5. The Executive Board hereby declares that to the best of its knowledge, the interim financial statements give a true and fair view of the company’s assets, liabilities, financial position, and profit or loss , as well as those of the undertakings included in the consolidation taken as a whole . Furthermore, the interim director’s report provides a fair review of the information required pursuant to section 5:25d (8)/(9) of the Dutch Financial Markets Supervision Act ( “Wet op het financieel toezicht”). Signature of interim report Haaksbergen, August 11, 2026 Executive Board J.M.A. van der Lof, MBA, Chairman E.D.H. de Lange, MBA H.J. Voortman, MSc The figures in the interim financial report have not been audited. Disclaimer Statements included in this press release that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related thereto) are forward -looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially f rom those expressed or implied in the forward -looking statements. Forward-looking statements are typically identified by the use of terms such as "may," "will ," "should," "expect," "could," "intend," "plan," "anticipate," "estimate," "believe," "continue," "predict," "potential," or the negative of such terms and other comparable terminology. The forward-looking statements are based upon our current expectations, plans, estimates, assumptions, and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements.
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TKH GROUP N.V. – PRESS RELEASE 18/22 Appendix: Alternative Performance Measures (APMs) Added value Added value is calculated as t otal turnover less the cost of “Raw materials, consumables, trade products, and subcontracted work ” for products sold and services delivered , excluding one -off income and expenses . Added value is presented as an absolute amount and as a percentage of turnover. For a reconciliation and calculation, r efer to the “Notes to the interim financial report – ‘Segmented information’” in the press release. TKH considers this a relevant performance measure as it is an indicator of the pricing power in its specific markets and its ability to create added value for its customers. Adjusted EBITA and EBITDA and ROS (return on sales) Adjusted EBITA Earnings before interest, taxes, impairments, and amortization, excluding one- off income and expenses. EBITDA Earnings before interest, taxes, impairments, depreciation, and amortization, excluding one-off income and expenses. ROS Adjusted EBITA divided by total turnover, expressed as a percentage. For a reconciliation and calculation , please r efer to the “Notes to the Interim Financial Report – Segmented information” and “One-off income and expenses”. Capital employed and ROCE (return on capital employed) Capital employed: Defined as group equity plus interest-bearing loans and borrowings (current and non-current), less total lease liabilities and less cash and cash equivalents. ROCE: Calculated as the Adjusted EBITA for the last 12 months divided by the average of ca pital employed at the beginning and at the end of the period. in thousands of euros June 30, 2026 June 30, 2025 Group equity 900,917 809,555 add: Interest-bearing loans and borrowings, non-current 641,008 573,701 add: Interest-bearing loans and borrowings, current 70,566 203,314 minus: Total lease liabilities -94,264 -81,688 minus: Cash and cash equivalents -114,548 -92,819 Capital employed current year 1,403,679 1,412,063 Capital employed previous year 1,412,063 1,400,247 Average capital employed 1,407,871 1,406,155 Adjusted EBITA - 12 months 222,906 188,385 ROCE 15.8% 13.4% Innovations % Last 12 months turnover from new products launched in the previous two years, divided by last 12 months turnover. This measure provides useful information of the ability of TKH to bring innovations to the market and translate these in turnover. in thousands of euros (unless stated otherwise) H1 2026 H1 2025 Turnover from innovations 153,686 140,661 Total Turnover 955,879 858,144 Turnover from innovations % 16.1% 16.4%
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TKH GROUP N.V. – PRESS RELEASE 19/22 Net interest-bearing debt and debt leverage ratio (net interest-bearing debt/EBITDA) Net interest-bearing debt: Bank loans reported under non-current liabilities plus lease liabilities, plus borrowings reported under current liabilities, less cash and cash equivalents. Debt leverage ratio: Net interest -bearing debt according to bank covenants, divided by EBITDA according to bank covenants. in thousands of euros June 30, 2026 June 30, 2025 Net interest-bearing debt 594,334 681,825 Adjustment according to bank covenants -91,928 -80,164 Net interest-bearing debt according to bank covenants 502,406 601,661 EBITDA - 12 months 280,883 244,171 Adjustment according to bank covenants -8,746 -14,183 EBITDA according to bank covenants 272,137 229,988 Debt leverage ratio 1.8 2.6 The “adjustments according to bank covenants” mainly relate to the exclusion of lease liabilities from the calculation of the net interest-bearing debt, as well as some adjustments in determining EBITDA. These are all based on the provisions laid out in the company’s credit facility agreements with banks. Net profit before amortization of intangible non -current assets related to acquisitions (after tax) and one -off income and expenses attributable to shareholders (summarized as: “Adjusted net profit”) in thousands of euros June 30, 2026 June 30, 2025 Net profit 47,265 13,621 Less: Non-controlling interests 33 52 Net profit attributable to the shareholders of the company 47,298 13,673 Amortization of intangible non-current assets from acquisitions 7,973 8,732 Taxes on amortization -2,060 -2,250 Net profit before amortization from continuing operations attributable to the shareholders of the company 53,211 20,155 One-off expenses 4,476 16,267 Result from divestments and purchase price allocations in the result of associates -1,450 819 Impairments 1,155 4,393 Fair value changes of financial liability for earn-out and put options of shareholders of non-controlling interests 71 -512 Tax impact on one-off expenses and benefits -908 -5,165 Net profit before amortization and one-off income and expenses attributable to the shareholders of the company 56,555 35,957 Normalized effective tax rate The normalized effective tax rate is calculated as t ax on result divided by result before tax less the impact of share in result of associates, result on sale of associates and subsidiaries , and fair value changes of financial liabilities related to earn-out and put options of sharehold ers of non-controlling interests.
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TKH GROUP N.V. – PRESS RELEASE 20/22 in thousands of euros June 30, 2026 June 30, 2025 Result before tax 61,412 18,197 minus: Share in result of associates -92 160 minus: Result on sale of associates and subsidiaries -2,823 0 minus: Fair value changes of financial liability for earn-out and put options of shareholders of non-controlling interests 71 -512 Normalized result before tax 58,568 17,845 Tax on result 14,147 4,576 Normalized effective tax rate 24.2% 25.6% One-off income and expenses These are income and expense items whose nature, size , and/or frequency of occurrence make them relevant for explaining TKH’s performance. They include impairments, restructuring costs, one- off transportation costs due to the delayed ramp -up of Eemshaven and expenditures, and results from acquisitions and disposals. One-off income and expenses are recognized within the operating result, the result of associates, the result from divestments , and fair value changes in financial liabilities to earn-out and put options held by shareholders of non -controlling interests. One-off income and expenses are excluded when us ed as a measure to improve insight into the underlying performance of our activities. One-off income and expenses can be specified as follows: in thousands of euros Segment Category June 30, 2026 June 30, 2026 Acquisitions and divestments Other / Support Other operating expenses -3,804 -3,927 One-off transportation costs due to the delayed ramp-up of Eemshaven Electrification Raw materials, consumables, trade products, and subcontracted work 0 -11,600 Restructuring costs Automation / Other Personnel expenses -672 -1,312 Cancellation of depreciation on “held for sale” Other Depreciation 0 572 One-off income and expenses -4,476 -16,267 Operating expenses excluding one-off expenses, amortization and impairments This refers to the operating expenses excluding one-off expenses, amortization, and impairments. It is used when reconciling between added value and Adjusted EBITA. in thousands of euros June 30, 2026 June 30, 2025 Total Operating expenses 880,107 828,815 minus: One-off income and expenses -475,761 -423,312 minus: Raw materials, consumables, trade products, and subcontracted work (Adjusted for one-off expenses) -4,476 -16,267 minus: Amortization -32,251 -30,241 minus: Impairments -1,155 -4,393 Operating expenses (excluding one-off expenses, amortization, and impairments) 366,464 354,602 Order book and order intake The order book reflects expected future turnover from contractual performance obligations that have not yet been satisfied, or have only been partially satisfied, as of the balance sheet date. The order intake is calculated as follows:
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TKH GROUP N.V. – PRESS RELEASE 21/22 in thousands of euros June 30, 2026 June 30, 2025 Order book at January 1 1,027,845 1,135,004 Acquisitions and divestments -116 Turnover -955,879 -858,144 Order intake 959,318 803,304 Order book on June 30 1,031,168 1,080,164 Organic turnover growth This refers to turnover corrected for the impa ct of acquisitions, divestments , and foreign exchange effects when translating turnover from foreign currencies. The correction for divestments is determined by adjusting “Turnover growth” for the turnover of the previous year period for which the divested company was no longer part of the consolidation in the current year. The correction for acquisitions is determined by adjusting “Turnover growth” for the turnover of the current year period for which the acquired company was not yet part of the consolidation in the previous year. Automation In % Electrification In % Other In % H1 2026 In % Turnover current year 486,051 328,245 144,887 955,879 Turnover previous year 474,558 246,257 140,173 858,144 Turnover growth 11,493 2.4% 81,988 33.3% 4,714 3.4% 97,735 11.4% Impact of acquisitions / divestments - 0.0% - 0.0% (16,626) -11.9% (16,626) -1.9% Impact of foreign exchange effects (4,787) -1.0% (138) -0.1% (524) -0.4% (5,449) -0.6% Organic turnover growth 16,280 3.4% 82,126 33.3% 21,864 15.6% 119,810 14.0% Vision Technology In % Automated Machinery In % Automation In % Turnover current year 269,985 218,480 486,051 Turnover previous year 245,151 231,789 474,558 Turnover growth 24,834 10.1% (13,309) -5.7% 11,493 2.4% Impact of acquisitions / divestments - 0.0% - 0.0% - 0.0% Impact of foreign exchange effects (4,806) -2.0% 19 0.0% (4,787) -1.0% Organic turnover growth 29,640 12.1% (13,328) -5.7% 16,280 3.4% Organic Adjusted EBITA growth This refers to Adjusted EBITA growth corrected for the impact of acquisitions, divestments , and foreign exchange differences when translating Adjusted EBITA from foreign currencies. The correction for divestments is determined by adjusting “EBITA growth” for the Adjusted EBITA of the previous year period for which the divested company was no longer part of the consolidation in the current year. The correction for acquisitions is determined by adjusting “EBITA growth ” for the Adjusted EBITA of the current year period for which the acquired company was not yet part of the consolidation in the previous year. Automation In % Electrification In % Other In % H1 2026 In % EBITA current year 89,533 26,351 10,728 113,654 EBITA previous year 88,233 10,153 (5,633) 80,229 EBITA growth 1,300 1.5% 16,198 159.5% 16,361 -290.4% 33,425 41.7% Impact of acquisitions / divestments - 0.0% - 0.0% (93) 1.7% (93) -0.1% Impact of foreign exchange effects (1,333) -1.5% (88) -0.9% 59 -1.0% (1,362) -1.7% Organic EBITA growth 2,633 3.0% 16,286 160.4% 16,395 -291.1% 34,880 43.5%
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TKH GROUP N.V. – PRESS RELEASE 22/22 Vision Technology In % Automated Machinery In % Automation In % EBITA current year 54,507 35,026 89,533 EBITA previous year 43,690 44,543 88,233 EBITA growth 10,817 24.8% (9,517) -21.4% 1,300 1.5% Impact of acquisitions / divestments - 0.0% - 0.0% - 0.0% Impact of foreign exchange effects (1,201) -2.7% (132) -0.3% (1,333) -1.5% Organic EBITA growth 12,018 27.5% (9,385) -21.1% 2,633 3.0% Solvency Solvency is calculated at the percentage of the total group equity relative to the total equity and liabilities. in thousands of euros (unless stated otherwise) June 30, 2026 June 30, 2025 Total group equity 900,917 809,555 Total equity and liabilities 2,226,384 2,201,039 Solvency 40.5% 36.8% Turnover related to the Sustainable Development Goals (SDGs) The t otal turnover from TKH’s portfolio linked to one or more of the 17 SDGs (Sustainable Development Goals), adopted by all United Nations Member States in 2015. This figure is calculated by allocating turnover based on internal reporting by end-market, combined with portfolio data from the quarterly reports of operating companies. in thousands of euros (unless stated otherwise) H1 2026 H1 2025 Turnover linked to SDGs 720,120 573,831 Total Turnover 955,879 858,144 Turnover linked to SDGs% 75.3% 66.9% Working capital ratio Working capital ratio is calculated by dividing working capital by turnover. in thousands of euros (unless stated otherwise) June 30, 2026 December 31, 2025 June 30, 2025 Add: Current assets 1,000,893 930,707 956,059 Less: Cash and cash equivalents -114,548 -125,325 -92,819 Less: Current liabilities -615,902 -615,613 -729,926 Add: Current interest-bearing loans and borrowings 70,566 109,894 203,314 Working capital 341,009 299,663 336,628 Turnover - 12 months 1,858,903 1,761,167 1,703,663 Working capital ratio 18.3% 17.0% 19.8%