In an impressive feat of strength, the tank transmission specialist RENK from Augsburg has filled its order book to the brim and records a record order backlog of 4.6 billion euros at the turn of the year. The stock market newcomers from Augsburg were able to record significant increases in both sales and profits last year and are planning further increases for 2024.

Chairwoman Susanne Wiegand Sees Global Demand for Complete Military Equipment as a Sustainable Growth Driver. The news triggered a real fireworks display on the stock market: RENK shares soared by up to 13 percent to a new all-time high of 36.58 euros.

The company, which was only taken public in February by the majority owner Triton at a price of 15 euros per share, has since seen an impressive 144 percent increase in its share price. Revenue grew by nine percent to 926 million euros in the last fiscal year, while adjusted earnings before interest and taxes climbed by four percent to 150 million euros. Shareholders can look forward to a dividend of 30 cents per share.

For the year 2024, RENK forecasts an increase in sales to 1 to 1.1 billion euros and an operating margin of 16 to 18 percent, despite the prior burden due to the relocation of the semiconductor site to Dresden. In the medium term, the company is targeting an annual sales growth of around ten percent, with a desired margin of 19 to 20 percent.

RENK, known for its gear units for tanks, ships, and industrial facilities as well as couplings and plain bearings, has not only sparked the interest of investors with its initial public offering but geopolitical developments have also played into the company's hands. The recent tensions on the global stage have led to a rise in the share prices of German defense stocks, with RENK standing out particularly with its annual figures.