Renk Wins €160 Million in Fresh Gearbox Orders as Nine-Month Intake Jumps 33.6%
Published on 11/08/2026 at 20:02 | Editorial boerse-global.de
Renk has picked up two order extensions worth a combined €160 million, reinforcing a defence order book that swelled to €7.6 billion at the end of September 2026. KNDS Deutschland expanded its purchase of transmissions for the LEOPARD 2 and its vehicle family by roughly €130 million, while Patria placed a follow-on order for the TRACKX vehicle valued at €30 million.
The KNDS Deutschland contract covers the HSWL 354 gearbox; Renk will supply the HSWL 076 variant to Patria. Deliveries to KNDS Deutschland begin in 2029, with shipments to Patria starting in 2027, according to the company.
Those awards sit atop a sharply expanded new-business pipeline. Order intake for the first nine months of 2026 reached €1.66 billion, an increase of 33.6% on the prior-year period. In the third quarter alone, Renk booked €469 million in orders against revenue of €345 million and adjusted EBIT of €61 million.
Earnings Outpace Top Line
Revenue for the nine-month stretch came in at €982.0 million, up 5.8%, while adjusted EBIT climbed 12.7% to €158.8 million — a faster rate of growth than sales. Renk reaffirmed its operational capacity ramp-up and said its annual targets remain on track.
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For the continued operations, the company still expects roughly €1.4 billion in revenue for full-year 2026, with adjusted EBIT guided at €240–255 million. The forecast is framed around the continuing business following the binding agreement Renk struck about two weeks ago to sell its plain bearings unit to Miba. From the fourth quarter of 2026, Renk will classify that division as a discontinued operation under IFRS 5.
On order intake, management held firm to its full-year target of around €2 billion and guided to roughly €300–400 million of incoming orders in the final quarter.
Conversion Risk Flags
CEO Alexander Sagel, cited by Reuters, pointed to possible drags on converting the backlog into revenue: delays at major defence contractors could slow the translation of orders into sales. He singled out holdups in the German Boxer programme as an example.
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Separately, media reports on Friday said Sagel purchased 6,790 Renk shares, a transaction valued at €238,802.94.
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