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    TWEKA   NL0000852523

TKH GROUP N.V.

(TWEKA)
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TKH N : TKF secures Baltic Eagle cable contract with Van Oord

08/25/2021 | 04:04am EST
TKF secures Baltic Eagle cable contract with Van Oord

TKF has signed a contract with Van Oord for the Baltic Eagle offshore wind farm. For this project TKF will supply approximately 79 km 66 kV inter- array cables.

Iberdrola's Baltic Eagle project is being developed 30 km northeast of the island of Rügen, located in the German waters of the Baltic Sea. The contracted scope for TKF in Baltic Eagle includes the manufacturing and delivery of Aluminum conductor inter-array cables and corresponding accessories. Van Oord will transport and install the foundations and ensure the supply, transport and installation of the inter-array cables. The offshore works for the Baltic Eagle project will commence in 2023.

For our Baltic Eagle project, we are once again entering into cooperation with TKF. TKF is a reliable supplier of high quality cables with a tailor-made design which will meet all our client requirements. We look forward to the cooperation with TKF.

Henk-Jan van Dijk, Project Director Van Oord

'We are very pleased that Van Oord is once again calling on our expertise, this time for the Baltic Eagle project in the German Baltic Sea. We are proud that we can make a contribution to the European target for CO₂ reduction with our unique Premium Dry cable design'.

Walter Heerts, Business Line Director Building & Industry

The project, which will cover an area of 40 km², is expected to be completed in 2024. With a production capacity of 476 MW, the Baltic Eagle wind farm will deliver renewable energy to 475,000 households and at the same time saving nearly 1 million tons of CO₂ annually.

Innovative subsea cables

Since its founding in 1930, TKF has developed from a cable manufacturer to a technologically leading supplier of connectivity solutions. With a complete portfolio of cables, systems and services, we offer customers worldwide solutions for creating safe and reliable energy and data connections.

In the area of offshore wind energy, TKF is an innovative player, providing tailor-made solutions. TKF focusses on time, cost and risk reduction with state-of-the-art technologies for array cables and innovative subsea cable solutions. We offer both standard and tailor-made solutions including accessories and connectors. Our subsea cable solutions are manufactured and type tested to the latest IEC and Cigré standards.

Disclaimer

TKH Group NV published this content on 25 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2021 08:03:07 UTC.


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Sales 2021 1 476 M 1 684 M 1 684 M
Net income 2021 93,0 M 106 M 106 M
Net Debt 2021 294 M 336 M 336 M
P/E ratio 2021 26,1x
Yield 2021 2,80%
Capitalization 2 188 M 2 500 M 2 498 M
EV / Sales 2021 1,68x
EV / Sales 2022 1,52x
Nbr of Employees 5 647
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Number of Analysts 4
Last Close Price 53,55 €
Average target price 61,07 €
Spread / Average Target 14,0%
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Managers and Directors
Johannes Marius A. van der Lof Chief Executive Officer
Elling Dirk de Lange CFO, Head-Organization & Personnel
Antoon de Proft Chairman-Supervisory Board
Renate Dieperink-Gielink Secretary & Chief Compliance Officer
Philippus Petrus F. Houben Member-Supervisory Board
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