Goodwin PLC Shares Fall 46% After Losing £60M in Tenders Amid Middle East Geopolitical Uncertainty

Goodwin PLC's shares fell by 45.8% following the loss of two significant tenders totaling over £60 million in its Mechanical Engineering Division. The Easat subsidiary lost a €18 million contract for radar installations off Estonia, and a £45 million tender with Sellafield was unexpectedly lost. Goodwin is considering reverting to a 38% dividend payout policy due to rising geopolitical tensions, particularly related to the conflict involving Iran. Despite these setbacks, the company’s order book remains firm at £288 million.

Published Mar 23, 2026

Goodwin PLC's shares dropped 45.8% after disclosing losses in two tenders valued over £60 million. The Easat subsidiary lost an €18 million contract for coastal radar installations off Estonia, and a £45 million tender with Sellafield was unexpectedly lost.

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The firm’s fixed order book stood at £288 million at the end of January. While trading performance aligns with expectations, the losses represent a setback for the Mechanical Engineering Division. Goodwin is contemplating reverting to a 38% dividend payout policy due to geopolitical uncertainties linked to the situation in the Middle East. No orders for LNG facilities in the Middle East or USA have been canceled, although some dispatches have been delayed.