TSK affirms 2026 guidance, rules out dividend for 3 years; shares tumble

TSK Electronica shares plummeted over 7% on Friday following the Spanish engineering group's announcement that it does not anticipate distributing any dividend over the next three years and reaffirmed its guidance for 2026. The company reported an attributable net profit of €44.8 million for the first half of 2026, a staggering sixteen-fold increase year-on-year and 34% higher than the entire fiscal year of 2025.

Revenue grew by 4% to €480.6 million from €460.5 million, while EBITDA surged 54% to €44.5 million, raising the EBITDA margin to 9.3%. TSK stated that its performance remains consistent with the targets outlined at its IPO and affirmed its full-year guidance for 2026. At the end of June, net cash was €94 million. The company emphasized a significant rise in business visibility, with its backlog and exclusivity agreements reaching €6.9 billion, a nearly 40% increase from €5.0 billion at the close of 2025.

The commercial pipeline expanded by 50% over the same period to €14.9 billion, accompanied by an additional €1.32 billion in contracts at an advanced negotiation stage. Approximately 96% of the backlog and 94% of exclusivity agreements are contingent upon energy transition and digitalization projects.