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Here Comes the waves: TKMS Sails Ahead with Record-Breaking Orders in Shipbuilding
Shipbuilding Company TKMS at All-Time High in Contracts - German submarine manufacturer TKMS sets new records with order influx
Thyssenkrupp Marine Systems (TKMS) is making waves in the maritime industry, literally and figuratively. The Kiel-based submarine constructors have their order books filling up, all the way to the 2040s. , TKMS's CEO, gleefully announced a new record-shattering order backlog of over 16 billion euros. In the first half of the fiscal year 2024/2025, the shipyard revved up its engines, wrestling in over 5.6 billion euros worth of orders compared to a measly 669 million euros in the same period last year. While wrapping up the financial year 2023/24, the order backlog was a substantial 11.7 billion euros.
Gunning for more
In early May, it was announced that Singapore had fired off two more orders for 70-meter-long submarines to be built in Northern Germany. This sent the order book rocketing to around 18 billion euros, according to Burkhard. Unlike the first units for Singapore, which were fabricated at the Kiel headquarters, these submarines will be engineered in the guns of TKMS's Wismar shipyard.
Rounding the corner, Germany
Just when you thought things couldn't get any better, TKMS's luck took a turn for the military. In December, the Budget Committee of the German Bundestag gave a resounding "Ja" for the construction of four more Type 212CD submarines for the German Navy. With an order volume of 4.7 billion euros, the German Navy is ready to dive deeper into the depths with TKMS. is also rumored to be mulling over the merits of increasing their submarine fleet as well.
Testing the waters, Bremerhaven and Canada
TKMS isn't just letting their hair down among nations fond of schnitzel and beer. They have also managed to snag the contract to build the new research icebreaker "Polarstern" for the in Bremerhaven. In addition, they're keeping their eyes on the prize in the Great White North, negotiating a potential submarine order from .
Full steam ahead
With revenue pushing past the 1.1 billion euros mark in the first half of the fiscal year 2024/25 (compared to 965 million euros in the same period last year), combined with an adjusted operating profit before interest and taxes (EBIT) soaring from October to the end of March, standing tall at 62 million euros (up from 42 million euros in the same period last year), TKMS is steaming ahead. Although no net result figures have been made public yet, TKMS continues to navigate the choppy seas with confidence.
Employing over 8,000 sailors at three shipyards in Kiel, Wismar, and Itajaí (Brazil), as well as various international locations, TKMS has become one of the leading marine giants in the world. Keep an eye on the horizon, ship enthusiasts - it seems this powerhouse in marine industry will keep on growing and breaking records!
- Shipbuilding
- Record Level
- ThyssenKrupp
- Oliver Burkhard
- Singapore
- Submarines
- Wismar
- Germany
- CEO
- Maritime industry
- The maritime industry is witnessing a significant shift with Thyssenkrupp Marine Systems (TKMS) setting new records in shipbuilding, with an order backlog of over 18 billion euros, as announced by TKMS's CEO, Oliver Burkhard.
- TKMS's growing reputation in the maritime industry is evident in their recent orders for 70-meter-long submarines from Singapore, to be built in their Wismar shipyard, adding to their already substantial order books.
- Germany and Norway are showing interest in expanding their submarine fleets, potentially adding more orders to TKMS's expanding order book.
- TKMS is also venturing into new markets, having secured the contract to build the new research icebreaker "Polarstern" for the Alfred Wegener Institute in Bremerhaven and engaging in negotiations for a potential submarine order from Canada.
