German warship builder TKMS expects to make a decision on whether to buy neighbouring German Naval Yards Kiel (GNYK) in the next few weeks, its CEO Oliver Burkhard said on Monday.
Talks with GNYK, which is owned by France-based shipping group CMN Naval, are currently underway, and Burkhard said TKMS was in what he called a "pre due diligence" to see whether a purchase makes sense.
"For us, this would be a good opportunity, but it is not a must. And I believe it is important that we know very quickly whether it is worthwhile to deepen talks," Burkhard told reporters after presenting full-year results.
TKMS has been benefiting from a surge in investor demand for defence suppliers, driven by shifting US foreign policy that is putting greater pressure on Europe to boost its own defences against Russia.
It reported better-than-expected adjusted operating profit in 2024/2025, which rose 53 per cent to €131 million.
(Reporting by Christoph Steitz, Editing by Miranda Murray)
