Renk Closes David Brown Deal as CEO Flags Contractor Risk to €7.6 Billion Backlog

Published on 11/14/2026 at 20:50 | Editorial boerse-global.de

Renk completed its David Brown Defence acquisition on 2 November and posted a 33.6% rise in nine-month order intake to €1.66 billion, lifting its backlog to a record €7.6 billion.

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Renk has completed its acquisition of David Brown Defence from Stellex Capital Management, wrapping up the transaction on 2 November after all required regulatory approvals came through. The acquired business now trades as RENK UK Huddersfield, and its order book and project pipeline together represent a total volume of more than GBP 700 million across the 2026–2030 period.

The closing lands alongside a nine-month trading update that shows demand running well ahead of revenue. Order intake climbed 33.6% to €1.66 billion in the first nine months of 2026, lifting the backlog to €7.6 billion at the end of the third quarter — a record high for the group.

Revenue for the same stretch rose 5.8% to €982.0 million, while adjusted EBIT grew faster, advancing 12.7% to €158.8 million. Jefferies analyst Chloe Lemarie described the quarterly figures on 5 November as broadly in line with expectations.

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Sagel Points to Prime Contractor Bottlenecks

Speaking to Reuters on 5 November, Renk chief executive Alexander Sagel warned that delays at prime contractors could slow the conversion of that €7.6 billion order book into sales. He cited the Boxer programme as an example. Renk's own production and deliveries, Sagel stressed, are not constrained.

For the full 2026 financial year, the company reaffirmed its updated guidance, which is built on continuing operations and accounts for the planned sale of the plain bearings business to Miba AG. Renk expects revenue of around €1.4 billion and adjusted EBIT of €240 million to €255 million on that basis.

Finance Chief Handover Set for Early 2027

Separately, the supervisory board has appointed Jurate Keblyte as chief financial officer effective March 2027. Incumbent Anja Mänz-Siebje will not extend her current board contract and will hand over the finance function at the end of the first quarter of 2027.

The shares added 1.3% in the previous session to close at €33.09.

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