Submarine maker TKMS hits record $22 billion order backlog, raises sales outlook [Yahoo! Finance Canada]
THYSSENKRUPP AG S/ADR (TKAMY)
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Source: Yahoo! Finance Canada
FRANKFURT/DUESSELDORF, Feb 11 (Reuters) - German submarine maker TKMS reported a $22 billion order backlog - a ?new record - and raised its 2026 sales outlook on Wednesday, ?citing a boost in demand for warships at a time of rising geopolitical tensions. Like ?many of its peers, TKMS has been riding a surge in investor demand for shares in defence companies triggered by the war in Ukraine as well as U.S. pressure on Europe to step up ?its military capabilities. That boost ?was among former parent Thyssenkrupp's primary motivations for spinning off TKMS last year, allowing it to compete more ?effectively in global multi-billion euro submarine tenders, most notably in India and Canada. "In view of current geopolitical developments, our customers continue to show ?a high ?demand for advanced maritime capabilities," ?CEO Oliver Burkhard said. "As the ?only fully integrated maritime systems supplier in Europe, we are ideally positioned to meet the needs in all dimensions of our in
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