Photo credit: TKMS
TKMS maritime defense provider has made on Monday its debut on the Frankfurt Stock Exchange. The listing of Germany’s TKMS marks the completion of TKMS’s spin-off from thyssenkrupp AG as an independent, publicly traded company.
As part of the spin-off, a minority stake of 49% of TKMS shares was transferred prior to the start of trading to the existing shareholders of thyssenkrupp AG, in proportion to their current holdings.
Each TKMS share carries both voting and dividend rights.
Following the spin-off, thyssenkrupp AG will remain the majority shareholder of TKMS.
The company, which traces its roots back 185 years, is a naval company with more than 9,100 employees (including temporary workers) at three shipyards in Kiel, Wismar and Itajaí (Brazil), and with locations worldwide.
The company is active as a systems supplier for submarines and naval surface vessels as well as for maritime electronics and security technologies.
Demand for defence equipment has soared as a result of Russia’s full-scale invasion of Ukraine in 2022 and subsequent U.S. pressure on Europe to bolster its military capacity.
Experts in the field expect the sharp rise in defense spending in Europe and allied countries to continue in the coming years.
Oliver Burkhard, TKMS chief executive officer, commented on the company’s listing: “Today, we are opening a new chapter in the history of TKMS and at the same time sending a strong signal for maritime security. As Europe’s only fully integrated system provider for maritime defense, TKMS combines submarine and surface platform expertise with a strong market position in maritime electronics, sensor technology, effectors, unmanned systems, maritime command and control systems, and software.”
Photo credit: TKMS
TKMS expects the market potential for maritime security to double by the mid-2030s and targets average annual revenue growth of approximately 10% in the medium term.
“Our independence will enable us to increase agility and flexibility in the future. This will benefit our customers and partners in NATO as they undertake the urgently needed modernization of their maritime forces,” Burkhard said after shares began trading.
From his side, Miguel López, CEO of thyssenkrupp AG, noted: “With the listing of TKMS, we are combining entrepreneurial independence with the stability of a strong anchor shareholder. The spin-off gives TKMS direct access to the capital market and is also a commitment to Europe’s industrial sovereignty. It also enables value creation, technology, and skilled jobs in Germany and momentum for partnerships and consolidation.”
