Germany · Delayed Price · Currency is EUR thyssenkrupp AG Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw an 8% sales decline but a rise in adjusted EBIT, with net income impacted by restructuring at Steel Europe. Guidance for the year is confirmed, with key portfolio actions and positive policy developments expected to support future performance.
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The AGM highlighted strong financial results, a successful TKMS spin-off, and progress on the ACES 2030 transformation. Strategic restructuring in steel, automotive, and decarbonization segments was detailed, with a proposed EUR 0.15 dividend and continued focus on governance and ESG.
Fiscal Year 2025
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Transformation to a financial holding company advanced with the TKMS spinoff and major restructuring, while group sales fell 6% but adjusted EBIT rose to €640 million. Outlook for 2025-2026 is cautious, with continued restructuring, slight sales growth, and significant cash outflows expected.
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Despite a 6% drop in sales, net income rebounded to EUR 352 million and free cash flow exceeded guidance. Major milestones included the TKMS IPO and steel restructuring, while the outlook for 2025-26 remains cautious amid ongoing market and industry challenges.
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Q3 saw improved operational resilience despite a 9% sales drop year-over-year, with adjusted EBIT up and free cash flow before M&A guidance confirmed. Strategic milestones include the Marine Systems spin-off and Steel Europe restructuring, while market headwinds persist.
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First-half results show resilience amid weak markets, with positive net income driven by portfolio actions and cost measures. Guidance is maintained, supported by restructuring, strong Marine Systems performance, and ongoing green transformation initiatives.
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Q1 saw solid financial progress with adjusted EBIT up and a record Marine Systems order backlog, despite lower sales due to Automotive and Materials weakness. Guidance for EBIT is confirmed, free cash flow outlook raised, and strategic portfolio actions are advancing.
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The AGM highlighted a challenging year with declining sales but positive cash flow and strong equity. Major strategic moves included restructuring Steel Europe, advancing the Marine Systems spinoff, and expanding green technologies. All management proposals, including a EUR 0.15 dividend, were approved by large majorities.
Fiscal Year 2024
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Adjusted guidance was met for sales, EBIT, and free cash flow, but net income was negative due to large impairments, especially in Steel Europe. Transformation efforts, portfolio streamlining, and green investments continue, with positive cash flow and a strong balance sheet maintained.
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Sales fell 7% to €35B with a €1.4B net loss due to impairments and restructuring, but liquidity and dividend continuity were maintained. Strategic focus remains on green transformation, performance, and portfolio realignment, with 2024–2025 set as a transition year.
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Q3 saw solid performance amid weak demand, with sales down 6% year-over-year and adjusted EBIT at €149 million, impacted by a one-time €80 million charge. Full-year sales are expected to decline 6–8%, with continued focus on cost control and transformation initiatives.