TKMS rises in early trade on Canada submarine deal win

TKMS AG & Co KgaA

07/07/2026 07:35

** Shares in TKMS TKMS.DE rise around 6% in early Frankfurt trade after Canada picked the German company to build up to 12 submarines for its navy
** Negotiations are expected to conclude by the end of 2026, TKMS CEO said
** "This win implies TKMS has successfully converted all its outstanding major multi-billion contract opportunities," Deutsche Bank analysts say
** The broker notes co's order backlog could more than double to more than €40 billion ($45.72 billion) from €20 billion currently on the back of this and recently announced orders
** This would offer significant revenue visibility for multiple years, a key differentiator among European defence names, the broker adds
** Up to Monday's session close, shares were up around 40% YTD
     
($1 = 0.8750 euros)

(Reporting by Emanuele Berro)
((emanuele.berro@thomsonreuters.com))