Gabler Group AG, a Lübeck-based developer and manufacturer of mission-critical subsea technologies, reported consolidated revenue of EUR 49.8 million for the first nine months of 2026, with adjusted EBIT of EUR 15.6 million, an adjusted EBIT margin of 29.3%. The third quarter alone produced revenue of EUR 22.5 million and adjusted EBIT of EUR 8.9 million, a performance the company described as particularly strong and one that keeps it on track for full-year targets.
The results, published via NEWMEDIAWIRE, were accompanied by upgraded guidance. Gabler now expects 2026 consolidated revenue of over EUR 71 million, up from a previous range of EUR 69 million to EUR 71 million, and adjusted EBIT of over EUR 18 million, refined from EUR 17 million to EUR 19 million. That implies an adjusted EBIT margin above 24%. The company also raised its medium-term revenue target to over EUR 120 million within three to five years, previously over EUR 100 million. The announcement matters because it signals that defense-related subsea demand is translating into both near-term earnings and a longer runway of contracted work, a combination that offers investors unusual visibility in an industrial sector often prone to cyclical swings.
Order intake totaled EUR 65.3 million in the first nine months. Total order backlog rose to EUR 393.2 million as of 30 September 2026, up from EUR 390.4 million at 30 June 2026 and EUR 358.7 million at 31 December 2025. That backlog is more than five times expected 2026 revenue, and around 77% is expected to convert into revenue over the next three to five years. The figure combines fixed order backlog and soft order backlog, the latter based on management's probability-weighted assessment of unawarded bids.
CEO David Schirm said the strong third quarter confirms the company is consistently implementing the growth strategy outlined at its initial public offering, adding that the order backlog provides excellent visibility while Gabler invests in capacity, technology and international market presence.
CSO Ole Johannsen pointed to four strategic initiatives intended to unlock additional organic growth: torpedo tube launchable unmanned surface vehicles, Diver Homing technology for combat diver navigation and communication, the Gabler Integrated Subsea Intelligence ecosystem for underwater situational awareness, and expansion in the United States. Operationally, Gabler acquired 75% of Tallinn-based DECK Marine Systems OÜ on 16 October 2026, a maker of systems for deploying, recovering and positioning sensors and unmanned underwater vehicles, and established Gabler Group USA Corporation. The DECK consolidation is expected to have only a minor impact on current-year revenue and earnings, and the guidance accounts for those effects.
Gabler, founded in 1962, generates most of its net sales from defense and defense-related solutions and supplies hoistable masts and control systems to conventional submarines. It serves more than 250 customers, including 25 navies, and employs approximately 290 people. Its shares carry the ISIN DE000A421RZ9. The company scheduled an Earnings Call – Q3 2026 for investors and analysts.
