RENK Group AG Reports 19% Revenue Growth in 9M 2024

RENK Group AG, a leader in drive solutions for military and civil sectors, reported a 19.3% increase in sales revenue, reaching €778 million in the first nine months of 2024. This growth is primarily driven by the Vehicle Mobility Solutions (VMS) segment. The VMS segment alone reported a 28.7% increase in sales, underscoring the robust demand for military mobility solutions.

The company's adjusted EBIT rose by 8.1% to €112 million, with a 14.4% EBIT margin over the nine-month period. Meanwhile, the Marine & Industry segment saw a 9.3% increase in sales, benefiting from rising demand in the marine sector, and a 36.2% boost in adjusted EBIT.

RENK's order backlog reached a record €4.8 billion. The group maintains a book-to-bill ratio of 1.1x, with strong growth expectations for the year. The annual forecast remains at a targeted revenue of around €1.1 billion and adjusted EBIT between €175 and €190 million.