Growth in turnover and results;
Improved performance Electrification

Financial developments in the first quarter of 2026

•    Turnover increased to €448.3 million (9.6% organic growth vs. Q1 2025)
•    Adjusted EBITA of €46.4 million (19.1% organic growth vs Q1 2025)
•    Growth driven by, amongst others, increased output volumes at Eemshaven
•    ROS of 10.3% (Q1 2025: 9.5%)
•    Added value stable at 51.0% (Q1 2025: 51.2%)
•    Order book at €1,030.6 million (year-end 2025: €1,027.8 million)
•    Electrification separation process on track
•    Outlook reiterated: organic growth in both turnover and Adjusted EBITA in 2026

Alexander van der Lof, CEO of TKH: “During Q1, we achieved a strong improvement in performance in Electrification driven by higher output of inter-array cables as well as high demand in onshore energy. Digitalization also benefited from improved market circumstances. Vision Technologies recorded growth from the delivery of larger projects. The order intake in particular in Machine Vision grew substantially. The lower order intake in the past quarters in Tire Building Machines impacted Automated Machinery results.

As communicated, during the quarter under review we further improved the operational output of Eemshaven, including a necessary upgrade to a key production line to ensure stable production for the larger dimensions. Further optimization steps are planned for 2026.

We are progressing according to plan with the process of separating the Electrification activities and will inform the market accordingly of any further steps if and when appropriate.

With a robust strategic and financial foundation, we remain confident in our ability to deliver sustainable value. We therefore reiterate our expectation for organic turnover and EBITA growth in 2026.”

Developments per segment

AUTOMATION

Vision Technologies
Vision Technologies recorded a 7.4% organic growth in turnover compared to Q1 2025. Security Vision performed well during the quarter under review, benefiting from the delivery of a number of larger projects. In Machine Vision, in particular 3D Vision performed well on the back of growth in consumer electronics and semicon. The orderbook for Machine Vision at the end of Q1 2026 was substantially higher than at the end of 2025.

Automated Machinery
Automated Machinery recorded a 6.0% organic decrease in turnover compared to Q1 2025, on the back of the lower order intake in Tire Building Machines in the previous quarters. The order intake for Tire Building Machines in Q1 2026 remained at lower levels, further impacted by the geopolitical circumstances.

ELECTRIFICATION

Electrification
Electrification reported a 29.3% organic increase in turnover compared to Q1 2025. A large part of the growth was due to increased output volumes of offshore inter-array cables at Eemshaven. Onshore energy too contributed to the growth, on the back of strong and further growing demand from the Dutch network operators. Specialty cables performed slightly better than Q1 2025, due to favorable customer developments. In May, a contract was signed for the supply of 162 km of inter-array cables for Vattenfall’s Zeevonk offshore wind farm off the coast of the Netherlands under the existing framework agreement.

Digitalization
Digitalization recorded a 6.2% organic turnover growth compared to Q1 2025, on the back of improved fibre optic market circumstances. The operating expense level benefited from the completed consolidation of all fibre optic cable production into Poland.

2026 outlook

TKH reiterates its outlook as communicated on March 5, 2026. Barring unforeseen circumstances, we expect organic growth in both turnover and Adjusted EBITA in 2026.

A conference call for analysts will be held today at 10:00 CET. To access the conference call, please visit www.tkhgroup.com.

Haaksbergen, May 12, 2026

Growth in turnover and results;Improved performance Electrification

Financial developments in the first quarter of 2026

Developments per segment

2026 outlook

Growth in turnover and results;
Improved performance Electrification

Share: