Augsburg, February 7, 2025 – RENK Group AG, a leading provider of propulsion solutions for military and civilian applications, is looking back on a successful first year as a publicly listed company. One year after going public on February 7, 2024, the company continues its successful growth trajectory. Most recently, preliminary, unaudited results for the fiscal year 2024 showed a record order intake of € 1.4 billion and revenues of € 1.1 billion. In the medium-term, RENK continues to expect its group revenue to increase to around € 2 billion by the end of 2028 through organic growth.
The robust performance of the share price in the first year on the Frankfurt Stock Exchange underscores investors’ confidence in RENK’s corporate performance. The shares opened at € 17.50 on February 7, 2024, 16.67% higher than the issue price of € 15.00. Over the past twelve months, the share constantly traded above the issue price and the entry price. RENK was admitted to the SDAX as early as May 9, 2024. Due to the strong share price performance since the end of the fiscal year 2024, RENK is a candidate for entering the MDAX in March.
“The first year on the Frankfurt Stock Exchange has been a great success for RENK,” said Dr. Alexander Sagel, CEO of RENK Group AG. “We demonstrated that we are strongly positioned as a company and have earned the trust of our shareholders. We are more determined than ever to achieve our medium-term growth targets.”
“Going public marked the beginning of a new era for us,” added Anja Mänz-Siebje, CFO of RENK Group AG. “Our entry to the capital market has been a success story for us. We are on the right track and our investors believe in our strategy. We are working diligently to achieve the next milestone in our growth trajectory with revenues of around € 2 billion in 2028.”
About the RENK Group AG
Headquartered in Augsburg, Germany, RENK Group AG is a globally leading manufacturer of mission-critical propulsion solutions across diverse military and civil end markets. Our product portfolio includes gear units, transmissions, power-packs, hybrid propulsion systems, suspension systems, slide bearings, couplings & clutches and test systems. With this broad product portfolio RENK Group AG serves, in particular, customers in industries for military vehicles, naval, civil marine, and industrial applications focused on energy. In the fiscal year 2023, RENK Group AG generated revenue of EUR 926 million. RENK Group AG is listed on the Frankfurt Stock Exchange since February 7, 2024 and is a member of the SDAX since May 9, 2024.
Disclaimer
This Press Release contains forward-looking statements that are based on plans, expectations, estimates and projections of the management of RENK Group as at the date of this Press Release. These plans, expectations, estimates and projections depend on a variety of assumptions and are subject to unforeseeable events, uncertainties, known and unknown risks as well as other factors that may cause actual results or the actual financial situation, development or performance to differ from those expressed or implied in the forward-looking statements. RENK Group does not assume any obligation to update the forward-looking statements or make adjustments to them to reflect events or developments occurring after the date of this Press Release unless obliged by statutory law.
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