TKH Revenue Rises 20.3%, Nexon Grows 17% as Both Shares Fall
Key Facts
TKH Group said on November 10 that revenue reached 501.3 million euros in the third quarter of 2026, up 20.3% organically year over year, while Adjusted EBITA rose to 63.3 million euros, an organic increase of 61.0%. The company said its return on sales (ROS) margin reached 12.6%, compared with 9.2% in the third quarter of 2025. In market coverage attributed to Reuters, TKH shares fell 1.85% to 47.88 dollars. The report linked the share move to investors absorbing the company’s warning of near-term pressure in automated machinery. TKH maintained its forecast for organic growth in revenue and Adjusted EBITA for the year, but pointed to an expected weakening in the fourth quarter.
TKH’s growth varied markedly across its businesses: revenue at Vision Technologies rose 20.9% organically, while Electrification revenue increased 46.5% compared with the third quarter of 2025. By contrast, Automated Machinery revenue fell 12.6% organically, explaining some of the caution about the coming period. The chief executive said the company continued its strong first-half performance in the third quarter, with revenue growth of 20% and Adjusted EBITA up more than 60%. He added that the company’s increased focus on automation and electrification was beginning to pay off. The order book stood at 996.5 million euros, compared with 1,031.2 million euros on June 30, 2026.
For the first nine months of 2026, TKH posted revenue of 1,457.1 million euros, up 16.0% organically from the same period in 2025. Adjusted EBITA for the period was 176.9 million euros, up 49.2% organically. Although the company maintained its full-year growth forecast, it expected fourth-quarter Adjusted EBITA to be below the 70.5 million euros recorded in the same quarter of 2025. It attributed the outlook to weakness in automated machinery, a lower order book and a strong comparison base. TKH scheduled the release of its full-year 2026 results for March 4, 2027.
Nexon said third-quarter revenue reached 138.4 billion yen, up 17% year over year, while operating income rose 11% to 41.8 billion yen. The company attributed the results to its MapleStory and FC franchises and expenses remaining below plan. It said MapleStory franchise revenue rose sharply to a record, driven by growth in the game in Korea and global markets, alongside contributions from MapleStory: Idle RPG and growth in MapleStory Worlds. In Investing.com coverage attributed to Reuters, Nexon shares fell 1.71% to 2,897 dollars. The report said the company’s fourth-quarter guidance included an expected year-over-year decline in revenue.
In the nine months ended September 30, 2026, Nexon recorded revenue of 411,693 million yen, up 17.1% from the corresponding period. Operating income rose to 131,235 million yen, an increase of 12.3%, while profit attributable to owners of the parent rose 53.9% to 124,997 million yen. The company estimated fiscal 2026 revenue at between 519,417 and 530,582 million yen, an increase of 9.3% to 11.7% year over year. It also forecast operating income of between 135,245 and 142,944 million yen, growth of 9.1% to 15.3%. For the fourth quarter, it projected revenue of between 107.7 billion and 118.9 billion yen, representing a year-over-year decline of between 13% and 4% on a reported basis.
Nexon linked its fourth-quarter range to a high year-over-year comparison following the launch of ARC Raiders in the same quarter last year, as well as a decline in the Dungeon & Fighter franchise. This contrasts the strength of the third-quarter results with near-term guidance: the company delivered growth in revenue and operating income during the quarter while forecasting lower revenue in the next one. Nexon’s dividend payment is scheduled to begin on November 25, 2026. For TKH, the challenge highlighted in its guidance centers on automated machinery performance and the decline in its order book from the level at the end of June. TKH will publish its annual results on March 4, 2027.