RENK Group: A Pure Play On Europe's Defense Boom

RENK Group remains a 'Buy', with 18–29% upside potential based on 2026 earnings and operating leverage from defense-driven growth. 2025 saw revenues rise 20% to €1.37B, with defense sales now 74% of the total and adjusted EBIT margin expanding to 16.9%. Guidance for 2026 targets over €1.5B in sales (10%+ growth) and adjusted EBIT of €255–285M, supporting margin expansion to 17–19%.