Terma’s order surge points to years of delivery ahead

With a record-high order backlog and continued earnings growth, Terma concludes a strong 2025/26 financial year.

The 2025/26 financial year, published Friday was marked by sustained global demand for advanced defense and critical infrastructure solutions. 

Order intake reached 5.6 BDKK, up 43 percent year on year, while revenue increased to DKK 3.4 billon corresponding to an organic growth of 16 percent. Operating profit before special items and tax was DKK 396 millon - up 22 percent versus last year and above our initial outlook.

- Our performance demonstrates that our strategic focus aligns with the structural shifts we are seeing in the security landscape. Demand is increasing across defense and critical infrastructure, and we are well positioned to meet that demand, says CEO Henriette Hallberg Thygesen in a preprared statement.

The year closed with an order backlog of 6.9 BDKK, providing strong visibility for the coming years and underscoring the trust placed in Terma by its customers. Operating cash flow improved to DKK 730 million.

Across Europe and allied markets, rising security needs are driving long-term structural demand, particularly within critical infrastructure protection and counter-UAS capabilities.

Terma continues to expand its European presence through partnerships and collaboration, and during the year acquired OSL Technology to strengthen its capabilities in this area. 

Ukraine remains a strategic priority, with Terma establishing a subsidiary in Kyiv and building local partnerships to support the country’s defense and reconstruction.

To support continued growth, Terma is investing in production capacity, supply chains, and organizational capabilities. During the year, close to 600 new colleagues joined the company.

- Our ability to scale and deliver is driven by the people behind the technology. I want to thank all colleagues across Terma for their dedication and strong efforts during a year of high activity and growth, says Henriette Hallberg Thygesen.