Arendal, Norway / Sherbrooke, QC, Canada - 12 February 2026)
Tekna (OSE: TEKNA), a world-leading provider of advanced materials and plasma
systems to industry, today reports its financial results for the fourth quarter
of 2025. The period marks Tekna's second consecutive EBITDA-positive quarter,
supported by strong Materials performance and the sustained impact of the
company's efficiency and cost-reduction program.
Total revenues in Q4 2025 amounted to CAD 9.9 million, representing a 2%
year-on-year increase. The company delivered a significant improvement in
profitability, with overall contribution margin increasing to 60%, compared to
41% in the corresponding period last year. Adjusted EBITDA for the quarter was
positive at CAD 0.9 million, corresponding to an adjusted EBITDA margin of 9.3%.
This improvement was driven by record-high margins in Materials and continued
operational discipline across the organization.
"We achieved our second consecutive EBITDA-positive quarter, with record
Materials performance and expanding margins. We are seeing growing traction with
larger strategic customers placing larger orders, reinforcing our position as a
trusted supplier in Additive Manufacturing. Combined with disciplined cost
execution and a significantly strengthened balance sheet, Tekna has reached an
important inflection point. With ample capacity, deep technical expertise, and
strong customer relationships, we are well positioned to scale and capture
long-term value in Additive Manufacturing and adjacent industrial applications,"
said Claude Jean, CEO of Tekna Holding ASA.
Q4 2025 HIGHLIGHTS
Second consecutive EBITDA-positive quarter, with record Materials performance
and expanding margins
o Total revenues of CAD 9.9 million in Q4 (+2% YoY) and CAD 35.6 million
year-to-date (-4% YoY).
o Overall contribution margin increased to 60%, up from 41% in Q4 2024.
o Successful execution of the improvement program, delivering sustained cost
reductions.
o Adjusted other operating expenses reduced by 16% YoY, excluding FX effects.
o Adjusted employee benefit expenses reduced by 9% YoY.
o Positive adjusted EBITDA of CAD 0.9 million, representing a 9.3% margin.
o Record Materials revenues of CAD 8.0 million, with a contribution margin of
59%, compared to 38% in the same period last year.
o Materials order intake increased by 18% YoY to CAD 9.1 million.
o Materials backlog reached CAD 17.4 million, an increase of 46% year-over-year,
driven by two major orders from tier-1 aerospace and defense customers.
o Total backlog increased 23% year-over-year to CAD 20.5 million at year-end
2025, supported by sustained order momentum.
o Cash flow from operating activities of CAD -1.2 million in Q4.
Subsequent to the reporting period, TEKNA announced several significant orders,
further supporting visibility into 2026 revenues.
BUSINESS MODEL AND MARKET POSITION
Tekna operates two complementary business areas: Materials and Systems. The
Materials segment produces high-purity metal powders for Additive Manufacturing
(AM), serving aerospace, defense, medical, and industrial customers globally.
The Systems segment develops and sells proprietary induction plasma systems,
including PlasmaSonic hypersonic wind tunnels for the space industry. Both
segments are built on Tekna's core inductively coupled plasma (ICP) technology,
which represents over 30 years of accumulated expertise and intellectual
property.
The global Additive Manufacturing market is expected to grow at approximately
20% per annum, driven by increasing adoption in aerospace, defense, medical and
industrial applications. Tekna holds a world-leading position in this market
with proprietary technology, proven capabilities, and established customer
qualifications with tier-1 OEMs. The company's upstream position in the AM value
chain provides sticky customer relationships and strong competitive advantages.
LONG-TERM STRATEGY AND 2030 TARGETS
Tekna is strategically positioned to capture increasing demand for advanced
materials within the Additive Manufacturing industry, with the Materials segment
expected to be the primary revenue driver toward 2030. Within its existing
business areas, Materials and Systems, the company targets double-digit annual
revenue growth and EBITDA margins in the range of 15% to 20% by 2030.
The company has sufficient production capacity within its current facilities to
support these targets, while additional growth opportunities have been
identified across other industrial applications and verticals.
REFINANCING AND BALANCE SHEET STRENGTHENING
During the fourth quarter, Tekna successfully completed its refinancing plan
through a fully underwritten rights issue of NOK 300 million (CAD 41 million).
o Net proceeds of approximately CAD 40 million were raised, after transaction
costs of around CAD 1 million.
o CAD 29 million of the proceeds were used to fully repay the AFK shareholder
loan, including interest.
o The remaining proceeds increased cash by CAD 11 million, lifting total cash
holdings from CAD 7.2 million at the end of Q3 2025 to CAD 17.4 million at
year-end.
As a result, Tekna's balance sheet strengthened materially:
o Equity ratio increased from 28% at the end of Q3 2025 to 78% at the end of Q4
2025.
o Net debt improved from CAD 26.6 million to a net cash position of CAD 11.8
million.
FOURTH QUARTER PRESENTATION
Tekna will present its financial results for the fourth quarter of 2025 in a
webcast today, Thursday 12 February 2026, at 19:00 CET.
Webcast link:
https://investorcast.live/webcastdetail?id=697ceb6aad4c9cb4bde9d565
The presentation and following Q&A session will be hosted by CEO Claude Jean and
CFO Espen Schie. Questions may be submitted in writing at any time during the
presentation, and a recording of the presentation will be made available on the
company's website after the live event has concluded.
The Q4 2025 materials are enclosed and available on the company's website.
ATTACHMENTS
o 25Q4 Interim report.pdf
o 25Q4 Presentation.pdf
o This announcement in PDF.pdf
DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
Arina Van Oost, Investor Relations | VP Corporate Strategic Development, Tekna
Holding ASA,
+33670115190, investors@tekna.com
ABOUT TEKNA HOLDING ASA
Tekna is a world-leading provider of sustainable, advanced material solutions,
headquartered in Sherbrooke, Canada. The company specializes in high-purity
metal powders used in critical applications such as additive manufacturing (3D
printing) across the aerospace, defense, medical and consumer electronics
industries. The company is positioning itself in the fast-growing market of
advanced nanomaterials for the microelectronics sector.
Tekna also develops cutting-edge induction plasma systems designed for both
industrial research and production. Its unique, IP-protected plasma technology
is powering its hypersonic wind tunnels, PlasmaSonic, which enable simulating
material exposure conditions in space.
With over 30 years of experience, Tekna is a trusted partner to a broad
portfolio of multinational blue-chip customers for its high-quality products and
innovation. Its material solutions help enhance productivity, enable more
efficient use of materials and support the transition to more resilient supply
chains and a circular economy.
https://www.tekna.com
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