thyssenkrupp Stock TKA.DE
thyssenkrupp stock (TKA.DE): Quarterly and annual results since 2025 from Quarterly Report and IR documents: revenue, earnings, balance sheet, cash flow and management guidance, every figure with its source. As of 08/2026, quarterly reporting. Stock analysis by NadirAlpha. Revenue Q3 FY2026 (Apr to Jun 2026): EUR 8.8 billion (+8% year on year). Latest reading: Profitable on all levels.
Profitable on all levels
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EditorialThe texts (business model, current status, development and others) are written AI-editorially from the original reports alone, cross-checked automatically and backed with sources; the company's own account, no assessment of our own. Methodology
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Business Model#
What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own. Methodology
thyssenkrupp AG is a diversified industrial group headquartered in Essen, Germany, operating through five principal segments: Steel Europe (flat carbon steel production), Materials Services / tk accelis (steel and materials distribution), Automotive Technology (components and systems for the automotive sector), Marine Systems (naval vessels and submarine construction under long-term defense contracts), and Decarbon Technologies (industrial plant engineering including green hydrogen electrolysis via nucera and decarbonization solutions for cement and chemicals). The group earns revenue by manufacturing and selling steel products, distributing steel and related materials through global supply chains, engineering and constructing large industrial plants, building naval systems under government contracts, and supplying precision components to automotive manufacturers. Under a multi-year portfolio restructuring, thyssenkrupp is progressively separating major business units: Marine Systems was operationally separated in October 2025 with a 49% non-controlling stake established, the Materials Services business (tk accelis) has received shareholder approval for an independent stock exchange listing, and non-core holdings including Automation Engineering and the AST specialty steel stake have been divested, reflecting a strategy of creating more focused, autonomous businesses from the former conglomerate structure.
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Current Status#
Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number. Methodology
Assessment by NadirAlpha, as of Q3 FY2026 (Apr to Jun 2026).
thyssenkrupp AG reported group revenue of 8,786 million euros for its third fiscal quarter of 2025/26 (April–June 2026), up 8% year-on-year, with growth in Materials Services, Steel Europe, and Marine Systems 17. Adjusted EBIT reached €183 million for the quarter, compared with €155 million in the prior-year quarter, as performance management continued to take effect across business segments 17. The full-year adjusted EBIT guidance was narrowed from €500 to 900 million to €600 to 900 million, and the full-year net income guidance was refined to −€700 to −€400 million from −€800 to −€400 million, reflecting an upward adjustment to the lower bounds of both ranges 17. The APEX performance management program continued to deliver tangible earnings improvements across multiple business lines, contributing to the improved quarterly results trajectory 14.
Management commentary on the 2026-Q2 results (IR-Quarter, 2026-08-13):
“thyssenkrupp gewinnt weiter an operativer Stärke und an strategischer Klarheit.” Miguel López, Vorstandsvorsitzender (Chief Executive Officer) 17
“thyssenkrupp continues to gain operational strength and strategic clarity. We are enhancing our performance and continuously improving our results. At the same time, we are making significant progress in implementing our transformation agenda: the planned stock market listing of tk accelis, the advances in the realignment of Steel Europe, and the strong position of TKMS demonstrate that our future model is not only taking shape but also proving its worth, strong, independent segments with a clear strategic perspective under the umbrella of a lean financial holding company. This enables us to offer attractive future prospects for our employees and direct participation in value crystallization for our shareholders, we will continue to pursue this course consistently.” Miguel López, Vorstandsvorsitzender (Chief Executive Officer) 17 (translation, original on hover)
Revenue · 2026-Q38,786€m
Net profit · 2026-Q30€m
EPS · 2026-Q30.00€
Revenue trend
Guidance
For FY2026, the company guides EBIT 600 to 900 €m (raised); Net income -700 to -400 €m (raised); Group revenue -3 to -1% (confirmed). 17
ProfitabilityOperating income (EBIT) for the quarter amounted to 222 million euros, while adjusted EBIT of €183 million came in above the prior-year quarter figure of €155 million 17. Diluted earnings per share were 0.00 euros, reflecting an approximately breakeven net income result at group level for the quarter 15. Free cash flow of -82 million euros remained negative, with capital expenditure and working capital requirements, including ongoing investment in the Steel Europe DRI plant, absorbing operating cash generation 15.
LeverageCash and cash equivalents at quarter-end stood at 3,379 million euros, down from 3,549 million euros at the end of the prior quarter, reflecting the continued negative free cash flow trajectory 15. In June 2026, thyssenkrupp signed a new syndicated revolving credit facility of €1.7 billion and a syndicated guarantee facility of €1.25 billion, expanding near-term financing headroom 20. The group is subject to financial covenants including a Loan-to-Value ratio at or below 55%, a Current Ratio above 1.10, and a Tangible Net Worth above €750 million 20.
Management viewMarine Systems (TKMS) was selected as preferred supplier for Canada's submarine program covering up to twelve Type 212CD submarines, and TKMS reported a record order backlog exceeding €20 billion as major defense programs continued to advance 17 15. Uhde completed a successful modernization of an ammonia converter in Turkey with a reported 13% production increase, and thyssenkrupp nucera announced a strategic cooperation with Bharat Heavy Electricals Limited (BHEL) to expand its green hydrogen electrolysis market reach 15 17. Workforce reductions continued to progress in line with cost structure targets, with the group reporting headcount down approximately 3,500 full-time equivalents year-to-date 15.
ChangeGroup order intake was €7.7 billion in the quarter, lower year-on-year, with the decline attributable to the absence of large Marine Systems new-build orders recorded in the prior-year period 17. Decarbon Technologies segment revenue declined 19% year-on-year in the quarter, driven by persistent shifts in customer investment decisions for industrial plant projects 15. Automotive Technology segment revenue was also lower year-on-year in the quarter, reflecting persistently soft demand in the serial business against a weak Chinese automotive market backdrop 15 20.
Risks (current)Weak demand in the Chinese automotive market continues to weigh on the Automotive Technology segment, representing a company-specific headwind, while persistently challenging overall market conditions constrain broader business development 20 17. Free cash flow before M&A remained negative in the quarter, and an additional negative disposal result in the low-to-mid triple-digit million euro range is anticipated in the fourth fiscal quarter as a result of the HKM exit 20. Financial covenant requirements (Loan-to-Value ≤55%, Current Ratio >1.10, Tangible Net Worth >€750 million), potential cost or schedule overruns in large long-cycle capital projects, first-of-its-kind technological risks in nucera's green hydrogen electrolysis, and customer-driven project deferrals in chemical plant construction at Decarbon Technologies represent further risk factors for the group 20 17.
New this reporting periodShareholders approved the independence of tk accelis (Materials Services) at the general meeting on 7 August 2026 with 99.99% of votes in favor; a Frankfurt Stock Exchange Prime Standard listing is targeted for calendar year 2026, with thyssenkrupp retaining a 51% majority stake after separation 17 15 20. The residual 15% stake in Acciai Speciali Terni (AST) was sold to Italy's Arvedi Group in June 2026, and thyssenkrupp's 50% stake in Hüttenwerke Krupp Mannesmann (HKM) was transferred to Salzgitter AG on 9 July 2026 for a symbolic consideration of €1, with write-ups at Steel Europe of €407 million offset by impairment losses of €276 million 15 17 20. A contract for four MEKO® A-200 DEU frigates with an option for four additional vessels for the German Navy was signed in July 2026, and Polysius launched an industrial-scale demonstration plant for pure oxyfuel technology reported to capture up to 95% of CO₂ emissions 15 17.
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Price & Chart#
Interactive price chart (TradingView) and the trend of key figures from the core tables. Methodology
Daily candles with news and earnings markers. Loads only on click.
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Share-Price Drivers#
Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own. Methodology
Portfolio restructuring toward defence and green steel, led by the separation of Marine Systems as TKMS
Marine Systems was carved out as a standalone entity (TKMS AG & Co. KGaA) in October 2025 and carries the group's highest segment margin, reshaping the earnings mix away from the weak steel cycle 20 12
Marine Systems was carved out as a standalone entity (TKMS AG & Co. KGaA) in October 2025 and carries the group's highest segment margin, reshaping the earnings mix away from the weak steel cycle 20 12
Marine Systems / naval defence order intake
Submarine order extensions including the 212CD programme (four boats), two additional boats for Singapore and a German Navy modernisation service contract for six boats; the segment shows the strongest margin among the operating units 16 12 8
Submarine order extensions including the 212CD programme (four boats), two additional boats for Singapore and a German Navy modernisation service contract for six boats; the segment shows the strongest margin among the operating units 16 12 8
Separation and listing of Marine Systems as TKMS
Verselbststaendigung of Marine Systems into TKMS AG & Co. KGaA completed in October 2025, isolating the defence business 20
Verselbststaendigung of Marine Systems into TKMS AG & Co. KGaA completed in October 2025, isolating the defence business 20
Green steel transformation at Steel Europe (direct reduction plant Duisburg)
Hydrogen-ready direct reduction plant under construction in Duisburg with planned full operation around 2028, carrying heavy capital outlays while the steel cycle stays soft 16 7
Hydrogen-ready direct reduction plant under construction in Duisburg with planned full operation around 2028, carrying heavy capital outlays while the steel cycle stays soft 16 7
Low-carbon steel supply traction (bluemint to BMW)
Planned bluemint steel supply to BMW from new DRI plant output and expansion of climate-friendly steel capacity toward 5 Miot by 2030 8 1
Planned bluemint steel supply to BMW from new DRI plant output and expansion of climate-friendly steel capacity toward 5 Miot by 2030 8 1
Steel Europe ownership change (EP Corporate Group)
EP Corporate Group acquired a 20 percent stake in Steel Europe (transaction closed July 2024), a step in the planned separation of the steel business 7
EP Corporate Group acquired a 20 percent stake in Steel Europe (transaction closed July 2024), a step in the planned separation of the steel business 7
Materials Services distribution volumes
Largest revenue segment but with a thin operating margin, reflecting weak demand and pricing in steel distribution 12
Largest revenue segment but with a thin operating margin, reflecting weak demand and pricing in steel distribution 12
Decarbon Technologies / nucera electrolysis and plant engineering
Pipeline of planned projects including high-temperature electrolysis (SOEC) with Fraunhofer and carbon-capture engineering, still at a low segment margin 7 12
Pipeline of planned projects including high-temperature electrolysis (SOEC) with Fraunhofer and carbon-capture engineering, still at a low segment margin 7 12
Sector trend: Steel demand and distribution pricing remain soft, leaving the materials and steel segments at low single-digit operating margins, while naval defence demand is expanding and carries the highest margin in the group 12 16.
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Event Timeline#
This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Methodology
2026 · 14 events
2026-Q2 · Jan to Mar 2026
“We are further developing thyssenkrupp AG into a financial holding company under whose umbrella strong, independent companies are united.” Miguel López, Vorsitzender des Vorstands 16 (translation, original on hover)
revenue 2026-08-13
Q3 revenue rose 8% year-on-year to 8,786 million, driven by Materials Services, Steel Europe, and Marine Systems 17
Q3 revenue rose 8% year-on-year to 8,786 million, driven by Materials Services, Steel Europe, and Marine Systems 17
Segment divergence 2026-08-13
Automotive Technology revenue grew +81.0% to EUR 3,262.0 million in 2026-Q2 (39% of group revenue) while group revenue changed -2.3%. 15
Automotive Technology revenue grew +81.0% to EUR 3,262.0 million in 2026-Q2 (39% of group revenue) while group revenue changed -2.3%. 15
Divestiture 2026-08-13
thyssenkrupp Steel transferred its 50% stake in Hüttenwerke Krupp Mannesmann (HKM) to Salzgitter AG for a symbolic price of €1; Steel Europe recognized write-ups of €407 million following the more efficient production setup 20
thyssenkrupp Steel transferred its 50% stake in Hüttenwerke Krupp Mannesmann (HKM) to Salzgitter AG for a symbolic price of €1; Steel Europe recognized write-ups of €407 million following the more efficient production setup 20
Guidance raised 2026-08-13
FY2026 adjusted EBIT guidance lower bound raised: range narrowed upward to €600 to 900 million from prior €500 to 900 million 17
FY2026 adjusted EBIT guidance lower bound raised: range narrowed upward to €600 to 900 million from prior €500 to 900 million 17
Operating income halved 2026-05-12
Operating income more than halved YoY (188.0 to EUR 65.0 million, -65%). 115
Operating income more than halved YoY (188.0 to EUR 65.0 million, -65%). 115
Operating income turned positive 2026-02-26
Full-year operating income recovered to 76 million euros from a prior-year loss of 1,041 million euros; EBITDA rose 67% to 1,490 million euros; adjusted EBIT improved by 72 million euros to 640 million euros 16
Full-year operating income recovered to 76 million euros from a prior-year loss of 1,041 million euros; EBITDA rose 67% to 1,490 million euros; adjusted EBIT improved by 72 million euros to 640 million euros 16
Guidance initiated 2026-02-26
FY2026 guidance initiated: adjusted EBIT 500 to 900 million euros, FCF before M&A -600 to -300 million euros, and net income between -800 and -400 million euros reflecting restructuring provisions at Steel Europe 16
FY2026 guidance initiated: adjusted EBIT 500 to 900 million euros, FCF before M&A -600 to -300 million euros, and net income between -800 and -400 million euros reflecting restructuring provisions at Steel Europe 16
Strategic pivot 2026-02-26
Marine Systems (TKMS) listed on the Frankfurt Stock Exchange on October 20, 2025; thyssenkrupp retained a 51% majority stake as the group transitioned toward a financial holding structure with independent segment companies 16
Marine Systems (TKMS) listed on the Frankfurt Stock Exchange on October 20, 2025; thyssenkrupp retained a 51% majority stake as the group transitioned toward a financial holding structure with independent segment companies 16
2026-Q1 · Oct to Dec 2025
“Our focus remains on consistently advancing the transformation of thyssenkrupp into a financial holding company. To this end, we are further developing the segments structurally.” Miguel López, Vorstandsvorsitzender 18 (translation, original on hover)
Segment divergence 2026-05-18
Materials Services revenue grew +16.6% to EUR 3,192.0 million in 2026-Q1 (44% of group revenue) while group revenue changed -8.2%. 12
Materials Services revenue grew +16.6% to EUR 3,192.0 million in 2026-Q1 (44% of group revenue) while group revenue changed -8.2%. 12
Segment divergence 2026-05-18
Steel Europe revenue grew +21.2% to EUR 2,639.0 million in 2026-Q1 (37% of group revenue) while group revenue changed -8.2%. 12
Steel Europe revenue grew +21.2% to EUR 2,639.0 million in 2026-Q1 (37% of group revenue) while group revenue changed -8.2%. 12
Net income turned negative 2026-05-12
H1 net period loss of €345 million (prior year: +€134 million), driven by higher restructuring charges including a €315 million provision at Steel Europe, prior-year base included no comparable restructuring provision 22
H1 net period loss of €345 million (prior year: +€134 million), driven by higher restructuring charges including a €315 million provision at Steel Europe, prior-year base included no comparable restructuring provision 22
Guidance confirmed 2026-05-12
Full-year guidance confirmed for adjusted EBIT, free cash flow before M&A, and net income despite macroeconomic uncertainties 18
Full-year guidance confirmed for adjusted EBIT, free cash flow before M&A, and net income despite macroeconomic uncertainties 18
Strategic pivot 2026-05-12
Marine Systems (TKMS AG & Co. KGaA) listed on Frankfurt Stock Exchange on 20 October 2025; thyssenkrupp retains 51% majority stake 22
Marine Systems (TKMS AG & Co. KGaA) listed on Frankfurt Stock Exchange on 20 October 2025; thyssenkrupp retains 51% majority stake 22
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Key Figures (€m)#
The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. Methodology
All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.
Revenue (€m) · quarterly basis, as reported
Net income (€m) · quarterly basis, as reported
EPS (€) · quarterly basis, as reported
Operating cash flow (€m) · quarterly basis, as reported
Cash (€m) · quarterly basis, as reported
Capex (€m) · quarterly basis, as reported
FCF (€m) · quarterly basis, as reported
Shown: the most recent fiscal years. Full history since FY2023 is on record.
Fiscal years
Amounts in €m · as reported
| Period | Calendar quarter | Revenue | Source |
|---|---|---|---|
| FY2028 | Q4/2027–Q3/2028 | 1,439 | 1 |
Quarters
Amounts in €m · EPS in € per share · as reported
| Period | Calendar quarter | Published | Revenue | Op. income | Net income | EPS (€) | FCF | Cash | Net Debt | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-Q3* | Q2/2026 | 2026-08-13 | 8,786 | 222EBIT | 0 | 0.00≈ | -82 | 3,379 | – | 122 |
| 2026-Q2* | Q1/2026 | 2026-05-12 | 8,380 | 65EBIT | 1 | 0.00≈ | -309 | 3,549 | -2,800~ | 8 |
| 2026-Q1* | Q4/2025 | 2026-02-12 | 7,186 | -240EBIT | -353 | -0.57≈ | -1,490 | 4,048 | -3,200 | 21 |
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
Net income: the series shows profit attributable to shareholders of the parent; individual cells show total profit including minority interests (hover).
Columns not reported in this reporting cadence are hidden: Op. income (adj.), EBITDA (adj.), EPS adj. (not reported in any source for these periods).
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Balance Sheet & Cash Flow (€m)#
Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original. Methodology
Amounts in €m · as reported
| Period | Calendar quarter | Published | Cash | Debt | Net Debt | OCF | Capex | FCF | Source |
|---|---|---|---|---|---|---|---|---|---|
| 2026-Q3 | Q2/2026 | 2026-08-13 | 3,379 | – | – | -82 | 0 | -82 | 122 |
| 2026-Q2 | Q1/2026 | 2026-05-12 | 3,549 | 125~ | -2,800~ | 27 | 336 | -309 | 8 |
| 2026-Q1 | Q4/2025 | 2026-02-12 | 4,048 | – | -3,200 | -1,232 | 258 | -1,490 | 21 |
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
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Revenue by Type (as of 2026-Q3 · EURm · 5/9)#
Revenue split by segment or product type, exactly as the company itself reports it. Methodology
| Segment | Since | Period | Basis | Revenue | Growth | Margin | Source |
|---|---|---|---|---|---|---|---|
| Decarbon Technologies | FY2023 | 2026-Q1 | 3M | 884 | – | 1.9% | 12 |
| Materials Services | FY2022 | 2026-Q1 | 3M | 3,192 | – | 2.6% | 12 |
| Steel Europe | FY2022 | 2026-Q1 | 3M | 2,639 | – | 3.4% | 12 |
| Automotive Technology | FY2022 | 2026-Q1 | 3M | 1,802 | – | 2.4% | 12 |
| Marine Systems | FY2022 | 2026-Q1 | 3M | 622 | – | 5.5% | 12 |
| Industrial Components | 2023-Q1 | 2023-Q1 | 3M | 663 | – | – | 2 |
| Multi Tracks | FY2022 | FY2023 | 12M | 3,167 | 23% | 4% | 1 |
| Forged Technologies | FY2022 | FY2023 | 12M | 1,598 | 1% | 6% | 1 |
| Bearings | FY2022 | FY2023 | 12M | 545 | -6% | 47% | 1 |
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Products & M&A (39/79 active+recent)#
Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. Methodology
| Product/Line | Since | Status | Source |
|---|---|---|---|
| Complete implementation of net-zero steel production transformation | 2045 | Planned | 6 |
| Removal of second coal-based blast furnace with alternative technology replacement | 2030 | Planned | 6 |
| Expansion of green steel production capacity to 5 Mt | 2030 | Planned | 1 |
| Direct reduction plant with two integrated electric melting units | 2028 | Planned | 7 |
| Removal of first coal-based blast furnace | 2027 | Planned | 6 |
| DRI plant commissioning and ramp-up | 2027 | Planned | 6 |
| Four MEKO® A-200 DEU frigates with option for four more for Deutsche Marine | 2026-07 | Launched | 17 |
| Uhde ammonia converter modernization in Turkey | 2026-06 | Launched | 15 |
| Strategic cooperation thyssenkrupp nucera and Bharat Heavy Electricals Limited (BHEL) | 2026-06 | Planned | 17 |
| Polysius oxyfuel technology demonstration plant | 2026-06 | Planned | 15 |
| New international revolving credit facility EUR 1.7bn | 2026-06 | Launched | 17 |
| Canadian submarine program with up to twelve 212CD submarines | 2026-06 | Planned | 17 |
| SE DRI plant construction | 2026-03 | Planned | 12 |
| Marine Systems submarine orders | 2026-03 | Launched | 12 |
| MEKO® A 200 DEU pre-contract extension | 2026-03 | Planned | 18 |
| bluemint® recycled low-CO2 steel delivery to BMW Group | 2026-03 | Planned | 22 |
| AI-powered inventory management application by Pacemaker | 2026-03 | Launched | 18 |
| European Resilience Alliance hydrogen deployment | 2026-03 | Planned | 12 |
| Bio-methanol project Nova Sustainable Fuels Canada | 2026-03 | Planned | 22 |
| Andalusian Green Hydrogen Valley project - 15x20-MW electrolyzers | 2026-03 | Planned | 22 |
| Hydrogen direct reduction plant at Duisburg site | 2026 | Planned | 1 |
| Stock exchange listing tk accelis Group AG & Co. KGaA in Prime Standard Frankfurt Stock Exchange | 2026 | Planned | 17 |
| Continuous casting plant 3 modernization in Duisburg | 2025-12 | Planned | 20 |
| Direct reduction plant construction and commissioning | 2025-09 | Planned | 16 |
| DRI plant at Steel Europe (2×) | 2025-06 | Planned | 5 |
| Bond repayment 600 million euros | 2025-02 | Launched | 16 |
| Hydrogen-ready DR plant Duisburg | 2025 | Planned | 16 |
| Hydrogen direct reduction plant (green hydrogen) | 2025 | Planned | 16 |
| Submarine order expansions 212CD program (four vessels) | 2025 | Launched | 16 |
| Submarine order expansion Singapore (two additional vessels) | 2025 | Launched | 16 |
| Continuous caster 4 and hot strip mill 4 commissioning, Duisburg site | 2025 | Launched | 16 |
| German Navy submarine modernisation service contract (six vessels) | 2025 | Launched | 16 |
| Electric Arc Calciner pilot project, Polysius Norway | 2025 | Planned | 16 |
| Research icebreaker Polarstern II contract award | 2025 | Planned | 16 |
| Ammonia cracker demonstration plant, Uhde/Uniper Gelsenkirchen | 2025 | Planned | 16 |
| Carbon2Chem project phase 3 BMBF funding notice EUR 50m | 2025 | Planned | 16 |
| Low-CO2 steel production under EU Taxonomy | 2025 | Planned | 16 |
| Holcim CO2-neutral cement plant with Polysius technology (2x) | 2024-04 | Planned | 7 |
| Direct reduction plant Duisburg (3x) | 2023-12 | Planned | 1 |
| Bluemint steel supply to BMW (2×) | 2026-03 | Planned | 8 |
| Biomass-to-methanol technology study (2×) | 2026-03 | Planned | 8 |
| Capital Markets Day Steel Europe (6×) | 2025-12 | Planned | 7 |
| Four-unit U-boat contract expansion | 2024-12 | Launched | 16 |
| Four-submarine contract expansion, Marine Systems | 2024-12 | Launched | 16 |
| Titan Group carbon capture project (IFESTOS) with Polysius | 2024-10 | Planned | 7 |
| Extension of German-Norwegian submarine contract for 4 submarines | 2024-03 | Launched | 3 |
| High-temperature electrolysis (SOEC) strategic partnership with Fraunhofer IKTS (2x) | 2024 | Planned | 7 |
| Annealing/insulation line in Bochum | 2024 | Planned | 7 |
| Cast-rolling mill conversion, Duisburg-Bruckhausen | 2024 | Planned | 7 |
| CO2-reduced steel (balance-sheet basis) | 2024 | Launched | 16 |
| polysius® booster mill for cement production | 2023-12 | Launched | 1 |
| ZM Ecoprotect® Solar and bluemint® Steel steels | 2023-12 | Launched | 1 |
| Water electrolysis technology for hydrogen production (thyssenkrupp nucera) | 2023-12 | Launched | 1 |
| Front axle body production, Homburg site | 2023-12 | Launched | 1 |
| Rotor shafts for electric motors (expansion into China and Mexico) | 2023-12 | Launched | 1 |
| Pitch Bearing Unit (PBU) for wind turbines | 2023-12 | Launched | 1 |
| Market launch bluemint® Steel certified steels with reduced CO2 intensity | 2023-12 | Launched | 1 |
| Establishment of Decarbon Technologies segment | 2023-10 | Planned | 1 |
| Reversing mill for e-mobility steels | 2023-10 | Launched | 7 |
| IPO thyssenkrupp nucera | 2023-07 | Launched | 1 |
| thyssenkrupp nucera IPO | 2023-03 | Launched | 1 |
| Direct reduction plant with hydrogen-powered melters | 2023-03 | Planned | 1 |
| Steer-by-Wire (SbW) technology | 2023 | Launched | 7 |
| Commissioning reversing mill | 2023 | Planned | 1 |
| Reversing mill and annealing insulation line in Bochum | 2023 | Planned | 2 |
| Reversing mill in Bochum | 2023 | Launched | 7 |
| Fuel cell modules production facility Kiel | 2023 | Launched | 7 |
| SteelBuy online marketplace (2x) | 2022-12 | Launched | 1 |
| Voluntary Carbon Credit Desk | 2022 | Launched | 1 |
| Finishing line VA 13 Packaging Steel Andernach | 2022 | Launched | 1 |
| Pelagus 3D printing joint venture with Wilhelmsen (2x) | 2022 | Launched | 7 |
| Commissioning additional walking beam furnace in hot strip mill 2 Duisburg | 2022 | Launched | 1 |
| Annealing insulation line Bochum | 2022 | Launched | 1 |
| FBA 10 hot-dip coating line commissioning (3×) | 2022 | Planned | 2 |
| Reversing mill Bochum | 2022 | Launched | 1 |
| Direct reduction plant for low-carbon steel | 2022 | Planned | 2 |
| Control tower solution for supply chain monitoring | 2022 | Launched | 1 |
| Hydrogen-ready direct reduction plant | in Bau | Planned | 7 |
| Brake-by-Wire technology cooperation with BWI Group | planned | Planned | 7 |
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M&A (44)#
All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Methodology
Acquisitions · 21Divestitures/exits · 18older: 4 (in the table)
Acquisitions
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Strategic cooperation TKMS and Navantia S.A. | 2026-03 | Completed | 18 |
| Rothe Erde holding structure realignment | 2026-03 | Completed | 18 |
| Cooperation agreements TKMS for Canadian submarine projects | 2026-03 | Completed | 18 |
| HQ transformation towards financial holding company | 2026-03 | Completed | 12 |
| Aceroteca Trading majority stake | 2026-03 | Completed | 18 |
| Type 212CD submarines Norway (2×) | 2026-01 | Completed | 18 |
| Spin-off of tk accelis (2×) | 2026 | Completed | 20 |
| thyssenkrupp Materials UK integration into Aerospace | 2025-12 | Completed | 16 |
| Uniper and Uhde ammonia framework agreement (2×) | 2025-12 | Announced | 11 |
| Marine Systems demerger (6×) | 2025-10 | Completed | 20 |
| Torpedo order German Federal Navy | 2025-03 | Completed | 21 |
| Waves acquisition | 2025 | Completed | 16 |
| WAVES (sustainability management platform) acquisition in Luxembourg | 2025 | Completed | 16 |
| EPCG 20% stake refund Steel Europe (2x) | 2025 | Completed | 7 |
| Cobotix Manufacturing Inc. acquisition | 2025 | Completed | 16 |
| 50/50 JV with EPG for Steel Europe (2x) | 2025 | Completed | 3 |
| Service contract for 6 submarines modernization (Germany) | 2024 | Completed | 5 |
| New submarine orders from Singapore | 2024 | Completed | 5 |
| EPCG acquisition of 20% stake in Steel Europe | 2024 | Completed | 6 |
| Direct Reduction Plant Duisburg (2x) | 2024 | Completed | 16 |
| Westphalia DataLab GmbH acquisition | 2023-12 | Completed | 1 |
| Westphalia DataLab data analytics acquisition | 2022-12 | Completed | 1 |
| Wismar Marine Systems production site acquisition | 2022 | Completed | 1 |
| Transitional Service Agreements with thyssenkrupp entities for Elevator | 2020 | Announced | 1 |
| Submarine order extensions | – | Completed | 8 |
Divestitures / exits
| Transaction / stake | Date | Type | Source |
|---|---|---|---|
| Materials Services segment spin-off | 2026-08 | Divested | 20 |
| Sale of 50% stake in Hüttenwerke Krupp Mannesmann (HKM) | 2026-07 | Divested | 20 |
| Salzgitter AG acquires 100% of HKM shares | 2026-07 | Divested | 20 |
| HKM exit | 2026-07 | Divested | 15 |
| Sale of remaining 15% stake in AST to Italian Arvedi Group | 2026-06 | Divested | 17 |
| Kone acquisition of TK Elevator (Advent/Cinven consortium) | 2026-04 | Divested | 22 |
| tk accelis spin-off | 2026 | Divested | 15 |
| HKM sale to Salzgitter (2x) | 2026 | Divested | 17 |
| Springs & Stabilizers Hagen site closure | 2025-12 | Divested | 16 |
| Automation Engineering Chemnitz site closure | 2025-12 | Divested | 16 |
| Automation Engineering sale (10×) | 2025-11 | Divested | 15 |
| Elevator Technology stake reduction via ALAT investment | 2025-07 | Divested | 16 |
| Sale of stake in Acciai Speciali Terni S.p.A. (AST) | 2025 | Divested | 20 |
| TKMS spin-off (3×) | 2025 | Divested | 3 |
| TKMS IPO (2x) | 2025 | Divested | 16 |
| Sale of tk Electrical Steel India (4×) | 2024-10 | Divested | 16 |
| thyssenkrupp Industries India sale (2×) | 2024-09 | Divested | 7 |
| Polysius industrial business India | 2023 | Divested | 7 |
| Sale of Elevator Technology | 2020-07 | Divested | 1 |
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Risks (206 since the annual report of 2026-02-26, 471 tracked in total)#
Risk factors the company itself names in its reports, merged by topic across periods, with category, first and last mention and source. Methodology
| Risk | Category | First reported | Last reported |
|---|---|---|---|
| Impairment losses of 276 mn EUR due to HKM exit at Steel Europe | Financial | 2026-Q2 2026-08-13 15 | 2026-Q2 2026-08-13 15 |
| Cost and/or schedule overruns in large-scale investments with long project durations cannot be excluded | Financial | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Schwache Entwicklung des chinesischen Absatzmarktes beeinträchtigt Automobilproduktion | Macro | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Financial Covenants: Loan-to-Value ≤55%, Current Ratio >1,10, Tangible Net Worth >€750M | Regulatory | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Portfolio measures and restructurings are associated with execution risks | strategie | 2025-Q4 2026-02-26 10 | 2026-Q2 2026-08-13 20 |
| nucera: Grüner-Wasserstoff-Technologie mit First-of-its-kind-Risiken | Technology | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Compliance-Risiken Kartellrecht können enormes Schadenspotenzial haben | compliance | FY2025 2026-02-26 16 | 2026-Q1 2026-05-12 22 |
| Order commitment for direct reduction plant of 1,043 million EUR partially covered by public investment grants | Financial | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Financial debt (current+non-current) of €877 mn; net financial assets position of €4.9 bn | Financial | 2026-Q1 2026-05-12 8 | 2026-Q1 2026-05-12 8 |
| Cost and schedule overruns possible in major investments and major orders | Financial | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Long-term offtake agreements for iron ore and pellets in the Steel Europe segment; reduction to 1.0 billion EUR due to price volatility | Supply chain | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Purchase commitments under energy contracts of 1.1 billion EUR in the first half of 2025/2026 | Supply chain | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Spin-off of Marine Systems legally effective since 17 October 2025; Best-and-Fair-Owner agreement with Agile Robots and IG Metall in connection with the Automation Engineering divestiture | Legal | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Divestiture of TK Elevator dependent on antitrust authority approvals; impact on financial position uncertain. | Legal | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| DRI plant construction at Steel Europe requires successful execution and market acceptance of new CO2-reduced products | Technology | 2026-Q1 2026-05-12 8 | 2026-Q1 2026-05-12 8 |
| Risks from legacy contamination and mining damage on former properties | betrieb | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Highly complex large-scale orders in Decarbon Technologies and the marine business carry risks of cost and schedule overruns | betrieb | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Verzögerungen beim Bau Direktreduktionsanlage erhöhen CO2-Zertifikatskosten und gefährden Fördermittel | betrieb | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Betriebsunterbrechungen und Sachschäden können zu Produktionsausfällen führen | betrieb | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Process-related environmental risks in production, in particular regarding water and air pollution | betrieb | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Wasserstoffbeschaffung könnte höher als angenommen ausfallen ohne funktionierenden Wasserstoffmarkt | betrieb | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Antikorruptionsrisiken mit enormem Schadenspotenzial an allen Standorten weltweit | compliance | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Geldwäschepräventionsrisiken mit enormem Schadenpotenzial | compliance | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Impairments in connection with the sale of the core business Automation Engineering (-30 million EUR) | Financial | 2023-Q4 1 | 2025-Q4 2026-02-12 21 |
| Anhaltend hohe Energie- und Kapitalkosten; signifikante Investitionen Grüne Transformation | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Abgangsverlust bei HKM-Verkauf erwartet niedrig bis mittlere dreistellige Millionenhöhe | Financial | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Accumulated impairment charges over four quarters of 2024/2025 exceeding 600 million EUR in Steel Europe | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Required financing of approximately 1 billion EUR by 2029/2030 for implementation of decarbonisation measures | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Cost overruns in cement plant construction at Decarbon Technologies partially offset by positive effects. | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Investment restraint on the customer side could impair market opportunities for CO₂-reduced products | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Restructuring charges in the Steel Europe segment (-401 million EUR in the first quarter) | Financial | 2025-Q4 2026-02-12 21 | 2025-Q4 2026-02-12 21 |
| Expected restructuring expenses at Steel Europe and impairments driving significant net income losses | Financial | 2025-Q4 2026-03-13 9 | 2025-Q4 2026-03-13 9 |
| Tax loss carryforwards of 9,941 million EUR, of which 114 million EUR expire within 20 years | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Impairment of 0.6 billion EUR on Steel Europe assets | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Automotive industry with a 33% revenue share is the most critical customer group | Customers | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| EUR 4.5 billion revenue from manufacturing orders not yet completed | Customers | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Kinderarbeit und Zwangsarbeit in vorgelagerten Lieferketten möglich | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Unzureichende Sicherheitsstandards bei Lieferanten in Hochrisikoländern | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| HKM-Liefervertrag gekündigt; künftig Beschaffung 2,5 Mio. Tonnen Stahl jährlich unsicher | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Loss of key products due to offboarding of sole-source suppliers | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Political requirements increase demand for critical materials with supply bottlenecks and cost increases | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Transportkapazitätsausfälle gefährden Kundenerfüllung und vertragliche Verpflichtungen | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Project postponements at Decarbon Technologies customers affecting order intake and sales | Supply chain | FY2024 7 | 2025-Q4 2026-03-13 9 |
| Lieferanteninsolvenz, Qualitätsmängel und Mangel an Vormaterialien beeinflussen Produktion | Supply chain | 2023-Q4 1 | FY2025 2026-02-26 16 |
| ESG risks in the supply chain monitored and mitigated through IT-supported analysis | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Lieferkettensorgfaltspflichtgesetz (LkSG) Compliance-Risiken; Risikoanalyse jährlich durchgeführt | Supply chain | 2025-Q3 5 | FY2025 2026-02-26 16 |
| Wirtschaftliche Verfügbarkeit erneuerbaren Wasserstoffs kritischer Erfolgsfaktor für Dekarbonisierung | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Stark eingetrübte Konjunkturlage insbesondere Deutschland; strukturelle Herausforderungen deutsche Automobilindustrie | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Infrastructural and economic risks in building the hydrogen economy | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Abbau von Industriearbeitsplätzen in Deutschland | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Uncertainty over customers' willingness to pay for CO₂-reduced products compared to conventional products | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Energiewende zu regenerativ dominierten Systemen stellt Stahlindustrie vor erhebliche Herausforderungen bezüglich Stromversorgung | Operations | FY2024 7 | FY2025 2026-02-26 16 |
| Fachkräftemangel in Deutschland | People | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| A fatal workplace accident occurred in railway operations | People | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Sale of HKM to Salzgitter planned for 1 June 2026, subject to approval by governing bodies | Legal | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Hellenic Shipyards claims EUR 35 million plus interest at 5% p.a. since October 2010 following a dispute over a materials package | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Meyer Werft and FourWorld Global Opportunities Fund file claim for approximately EUR 102 million in damages due to price fixing in the quarto plate cartel | Legal | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Republik Korea Schiedsklage gegen Marine Systems, 201 Mio € Schadensersatz wegen verzögerter U-Boot-Ablieferung | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Brand im Warmband-Werk Duisburg 24.10.2025 Auswirkungen unklar | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Mangelnder Arbeitsschutz und unangemessene Entlohnung identifiziert | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| NVL arbitration claim against Marine Systems relating to the K130 corvette programme with a payment demand of approximately EUR 5 million | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Cost overruns and schedule delays possible in major investments and large-scale contracts in plant engineering and marine business | Legal | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Passive anhängige oder bevorstehende Rechtsstreitigkeiten gegen thyssenkrupp | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Claim against Steel Europe for EUR 102 million in damages due to alleged price fixing in the quarto plate cartel | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Verkauf Automation Engineering an Agile Robots unter Vorbehalt regulatorischer Genehmigungen | Legal | 2025-Q4 2026-02-12 21 | 2025-Q4 2026-02-12 21 |
| SysCo claim before the High Court of Sindh Karachi seeking EUR 139 million arising from an unsuccessful distribution project | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Abwasser-Einleitungen in Rhein unterliegen kontinuierlicher Eigenüberwachung | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| CO₂ pricing under EU ETS and regulatory requirements increase the cost burden | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| The Carbon Border Adjustment Mechanism and the expiry of the Steel Safeguard in mid-2026 create competitive disadvantages | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Belieferung thyssenkrupp Steel Europe von HKM läuft Ende 2028 statt 2032 aus | Regulatory | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Regulatorische Unsicherheiten beeinflussen Bau der Direktreduktionsanlage in Duisburg | Regulatory | 2025-Q4 2026-02-12 21 | 2025-Q4 2026-02-12 21 |
| US punitive tariffs of 50% on steel threaten a significant share of exports to the United States | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Confidential negotiations with Jindal Steel International regarding the divestiture of Steel Europe are ongoing | strategie | 2025-Q4 2026-02-12 21 | 2025-Q4 2026-02-12 21 |
| Cost overruns and schedule delays in major investments and long-term contracts in project business | strategie | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Significant investments required for the green transformation and construction of the direct reduction plant | strategie | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Abspaltung Marine Systems und Restrukturierung Produktionsnetzwerk | Technology | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Großinvestitionen Direktreduktionsanlage Duisburg; wirtschaftliche Effekte abhängig Gesetzeslage | Technology | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Production constraints due to planned conversion measures and technical disruptions in crude steel production. | Technology | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Deutsches Kraftfahrzeuggewerbe kundensegmentspezifisch bedeutsam; Fertigungsaufträge Automotive Technologies rückläufig | Competition | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| High competitive intensity in automotive markets with Chinese pressure on the European market. | Competition | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Umweltverschmutzung und Ressourcenabbau in Lieferketten identifiziert | Competition | 2023-Q4 1 | FY2025 2026-02-26 16 |
| Steel Europe transformation involves complex restructuring agreements and government funding coordination | Legal | 2025-Q3 5 | 2025-Q3 5 |
| Rückläufige Nachfrage im automobilen Seriengeschäft belastet Automotive Technology | absatz | FY2024 7 | 2026-Q2 2026-08-13 17 |
| Negative free cash flow patterns; Q3 -114 mn EUR, 9M -1,940 mn EUR including restructuring outflows | Financial | 2026-Q2 2026-08-13 15 | 2026-Q2 2026-08-13 15 |
| Negative free cash flow before M&A of -1.94 billion EUR over 9 months 2025/2026. | Financial | 2026-Q2 2026-08-13 17 | 2026-Q2 2026-08-13 17 |
| Significant accrued pension obligations of €5,298 million mainly in Germany, primarily unfunded | Financial | 2026-Q1 2026-05-12 8 | 2026-Q2 2026-08-13 14 |
| Iran conflict with transport restrictions in the Strait of Hormuz weighs on the global economy. | Geopolitics | 2026-Q1 2026-05-12 22 | 2026-Q2 2026-08-13 20 |
| Kriegsrisiken in Ukraine und Iran-Konflikt beeinflussen Werthaltigkeitsprüfungen | Geopolitics | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Soft demand environment, especially at Automotive Technology serial business | Customers | 2026-Q2 2026-08-13 15 | 2026-Q2 2026-08-13 15 |
| Overall persistent soft demand in automotive serial business weighing on segment performance | Customers | 2026-Q2 2026-08-13 14 | 2026-Q2 2026-08-13 14 |
| Energieversorgungsunsicherheit durch Abnahmeverpflichtungen in Steel Europe | Supply chain | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Volatility in global supply chains due to geopolitical tensions and trade conflicts. | Supply chain | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Kundenseitige Projektverschiebungen im Chemieanlagenbau belasten Decarbon Technologies | Supply chain | 2026-Q2 2026-08-13 17 | 2026-Q2 2026-08-13 17 |
| Dependence on raw material availability and pricing volatility supporting cost management opportunities | Supply chain | 2026-Q2 2026-08-13 15 | 2026-Q2 2026-08-13 15 |
| Energy price shock and trade conflicts weigh on the global economy and industrial production. | Macro | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Klimabedingte Extremereignisse können Produktion, Infrastruktur und Transportwege beeinträchtigen | Macro | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Tariffs, sanctions and export controls impair trade flows and access to key technologies. | Macro | 2026-Q1 2026-05-12 22 | 2026-Q2 2026-08-13 20 |
| Price pressure from Chinese imports affecting packaging and electrical steel pricing | Market | 2026-Q2 2026-08-13 14 | 2026-Q2 2026-08-13 14 |
| Persistent shifts in investment decisions and project postponements affecting plant engineering | Market | 2026-Q2 2026-08-13 14 | 2026-Q2 2026-08-13 14 |
| Persistent macro uncertainties and volatility affecting customer demand across regions | Market | 2026-Q2 2026-08-13 14 | 2026-Q2 2026-08-13 15 |
| Anhaltend anspruchsvolle Marktbedingungen für Geschäftsentwicklung | Market | 2026-Q2 2026-08-13 17 | 2026-Q2 2026-08-13 17 |
| Compliance risks in antitrust law carry significant damage potential for reputation and finances. | Legal | 2025-Q4 2026-02-26 10 | 2026-Q2 2026-08-13 20 |
| Provisions for litigation risks not specified. | Legal | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| EU ETS reform necessary for the competitiveness of the European steel industry. | Regulatory | FY2025 2026-02-26 16 | 2026-Q2 2026-08-13 17 |
| CSRD compliance and ESG reporting requirements with double materiality assessment | Regulatory | 2026-Q2 2026-08-13 14 | 2026-Q2 2026-08-13 14 |
| New laws and changed legal frameworks may be associated with higher costs. | Regulatory | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Political framework effects becoming visible but not yet tangible (esp. steel tariffs and quotas) | Regulatory | 2025-Q4 2026-03-13 11 | 2026-Q2 2026-08-13 14 |
| Political framework effects emerging with steel tariffs and quotas impacting pricing | Regulatory | 2026-Q2 2026-08-13 15 | 2026-Q2 2026-08-13 15 |
| Digitalization and AI increase cyber risks and regulatory challenges. | Technology | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| Chinesische Anbieter bauen internationale Wettbewerbsposition in mehreren Industrien aus | Competition | 2026-Q2 2026-08-13 20 | 2026-Q2 2026-08-13 20 |
| EU-Handelschutzmaßnahmen für Stahlprodukte beeinflussen europäische Stahlindustrie | Competition | FY2024 7 | 2026-Q2 2026-08-13 17 |
| Persistent pricing pressure, especially at packaging steel and electrical steel from Chinese imports | Competition | 2026-Q2 2026-08-13 15 | 2026-Q2 2026-08-13 15 |
| Level of debt and management of interest rate risk in capital structure | Financial | 2026-Q1 2026-05-18 12 | 2026-Q1 2026-05-18 12 |
| Umsatzerwartung angepasst: –3 % bis 0 % ggü. Vorjahr wegen verzögerter Umsatzrealisierung Decarbon und Produktmix Steel Europe | Financial | 2026-Q1 2026-05-12 18 | 2026-Q1 2026-05-12 18 |
| Tensions in the Middle East affecting economic development estimations | Geopolitics | FY2025 2026-02-26 16 | 2026-Q1 2026-05-12 8 |
| Unresolved Taiwan conflict is a central risk for global production and supply chains. | Geopolitics | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Anhaltender Krieg in der Ukraine belastet weltwirtschaftliches Umfeld | Geopolitics | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Dependence on performance of major customers in automotive and industrial sectors | Customers | 2025-Q2 3 | 2026-Q1 2026-05-18 12 |
| Tensions around the Strait of Hormuz increase the risk of supply disruptions. | Supply chain | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Availability of raw materials and supply chain dependencies | Supply chain | 2026-Q1 2026-05-12 8 | 2026-Q1 2026-05-12 8 |
| Europäische Stahlindustrie bleibt unter Wettbewerbsdruck; Direktreduktionsanlage in Duisburg trotz wirtschaftlicher Unsicherheit in Bau | Supply chain | 2026-Q1 2026-05-12 18 | 2026-Q1 2026-05-12 18 |
| Rising macro uncertainties with weak demand across most customer groups and regions | Macro | 2026-Q1 2026-05-12 8 | 2026-Q1 2026-05-12 8 |
| Klimabedingte Extremereignisse erfordern höhere Resilienz und Notfallmanagement | Macro | FY2025 2026-02-26 16 | 2026-Q1 2026-05-12 22 |
| War in Ukraine, Iran conflict, increasing trade tensions and political uncertainties influence estimates. | Macro | 2025-Q4 2026-02-26 10 | 2026-Q1 2026-05-12 22 |
| Typical cash flow cyclicality in H1 expected to reverse in H2 | Market | 2026-Q1 2026-05-18 12 | 2026-Q1 2026-05-18 12 |
| Exposure to fluctuations in raw materials and freight costs | Market | 2026-Q1 2026-05-18 12 | 2026-Q1 2026-05-18 12 |
| Persistent soft demand across most customer groups and regions | Market | FY2024 7 | 2026-Q1 2026-05-18 12 |
| Anhaltend herausforderndes Marktumfeld und verschärfte geopolitische Unsicherheiten beeinflussen internationales Geschäft | Market | 2026-Q1 2026-05-12 18 | 2026-Q1 2026-05-12 18 |
| Rising macro uncertainties in light of tensions in Middle East | Market | 2026-Q1 2026-05-18 12 | 2026-Q1 2026-05-18 12 |
| Ongoing low steel price levels with volatility in flat steel market | Market | FY2025 2026-02-26 16 | 2026-Q1 2026-05-12 8 |
| Ongoing low steel price levels though spot market prices recently rising | Market | 2026-Q1 2026-05-18 12 | 2026-Q1 2026-05-18 12 |
| Still weak demand across most customer groups and regions | Market | 2025-Q2 3 | 2026-Q1 2026-05-12 8 |
| Upside potential from steel tariffs and CBAM regulations for European steel industry | Regulatory | 2026-Q1 2026-05-12 8 | 2026-Q1 2026-05-12 8 |
| New laws may carry risks for business activities when associated with higher costs. | Regulatory | 2026-Q1 2026-05-12 22 | 2026-Q1 2026-05-12 22 |
| Upside potential from improving European steel industry conditions including quotas and tariffs | Regulatory | 2026-Q1 2026-05-18 12 | 2026-Q1 2026-05-18 12 |
| Regulatorische Unsicherheiten beeinflussen Fortschritt der Direktreduktionsanlage in Duisburg | Regulatory | 2026-Q1 2026-05-12 18 | 2026-Q1 2026-05-12 18 |
| The threat landscape from cyberattacks is increasing and requires higher standards. | Technology | 2023-Q3 2023-10-01 4 | 2026-Q1 2026-05-12 22 |
| Project-related cost overruns in the water electrolysis segment of thyssenkrupp nucera weigh on Decarbon Technologies. | Technology | 2026-Q1 2026-05-12 18 | 2026-Q1 2026-05-12 18 |
| Risks from human error and security vulnerabilities endanger confidentiality and integrity. | Cyber | 2023-Q4 1 | FY2025 2026-02-26 16 |
| Zunehmende Cyberangriffe und teilweise unregulerter KI-Einsatz vergrößern Verwundbarkeit kritischer Infrastrukturen | Cyber | FY2024 7 | 2025-Q4 2026-03-13 19 |
| Natural disasters as a consequence of climate change are a growing threat. | ESG | 2023-Q1 2 | 2025-Q4 2026-02-26 10 |
| Typical cash flow volatility in Q1 expected to reverse over fiscal year course due to working capital patterns | Financial | 2025-Q4 2026-03-13 11 | 2025-Q4 2026-03-13 11 |
| Hochvolatile Eisenerzpreise beeinflussen Bewertung von Abnahmeverpflichtungen bis März 2028 | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Ratings below investment grade at Standard & Poor's (BB) and Moody's (Ba3) | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Geringer Umsatzanteil (< 1%) aus fossilen Brennstoffen; Kohle/Koks im Materials-Services-Segment | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Financing requirements and financial flexibility must be secured | Financial | 2023-Q4 1 | FY2025 2026-02-26 16 |
| Pension obligations and longevity risks require continuous assessment using discount rates | Financial | 2023-Q4 1 | FY2025 2026-02-26 16 |
| Refinanzierungs- und Liquiditätsplanungsrisiken | Financial | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Market headwinds from lower price levels and ongoing soft demand in main industries across Europe | Geopolitics | 2025-Q4 2026-03-13 11 | 2025-Q4 2026-03-13 11 |
| Abweichungen klimapolitischer Pläne von 1,5°C-Pfad würde Geschäftsmodell beeinflussen | Geopolitics | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Risks from a potential escalation of the Middle East conflict or the China-Taiwan conflict | Geopolitics | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Weitere Eskalation des Ukraine-Kriegs könnte Wirtschaftswachstum erheblich beeinträchtigen | Geopolitics | 2023-Q1 2 | 2025-Q4 2026-02-26 10 |
| Wars and conflicts in Ukraine, the Middle East, China-Taiwan, and the Arctic increase uncertainty and weigh on trade and investment | Geopolitics | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Anhaltende geopolitische Unsicherheiten beeinflussen Geschäftsperspektiven | Geopolitics | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Losses at automotive and industrial customers in Steel Europe. | Customers | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Transition zu CO₂-reduzierten Produkten; Marktanforderungen für nachhaltigere Lösungen steigend | Customers | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Shipments significantly down YoY, mainly impacted by direct-to-customer business decline | Customers | 2025-Q4 2026-03-13 9 | 2025-Q4 2026-03-13 9 |
| More favorable raw materials prices supporting earnings but subject to commodity price volatility | Supply chain | 2025-Q4 2026-03-13 11 | 2025-Q4 2026-03-13 11 |
| Kundenseitige Projektverschiebungen und wenig dynamische Marktentwicklung | Supply chain | 2025-Q4 2026-02-12 21 | 2025-Q4 2026-02-12 21 |
| Supplier-Code-of-Conduct für internationale Umweltabkommen | Supply chain | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Ongoing challenging and hesitant market environment across segments with market-induced sales declines | Macro | 2025-Q4 2026-03-13 11 | 2025-Q4 2026-03-13 11 |
| Deutsche Wirtschaft schrumpfte 2024 um 0,2 Prozent; nur leichtes Wachstum 2025 erwartet | Macro | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Fluctuating energy and raw material prices represent a material risk factor; climate-change-related extreme events could impair production and supply chains | Macro | 2023-Q4 1 | 2025-Q4 2026-03-13 19 |
| Volatility in energy, materials, and commodity prices adversely affects economic conditions | Macro | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| High and persistently elevated energy and capital costs weigh on business operations | Macro | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Impact on global supply chains from geopolitical tensions | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Physische Klimarisiken (akut/chronisch) an Standorten durch CMIP6-Modellsatz bewertet | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Transition risks from climate policy, technology, and economic disruption; Net-Zero-2050 scenario analysed | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Significantly deteriorated economic conditions, particularly in Germany; continued pressures from the consequences of the war in Ukraine | Macro | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Ongoing weak demand and overwhelming macro uncertainties across most customer groups and regions | Macro | 2025-Q4 2026-03-13 11 | 2025-Q4 2026-03-13 11 |
| Globale Stahlnachfrage stagniert; China verzeichnet Rückgang von 5,4% 2024 | Macro | 2023-Q1 2 | FY2025 2026-02-26 16 |
| US-Zollpolitik und Reaktionen anderer Volkswirtschaften führen zu hoher makroökonomischer Volatilität | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| US tariff policy continues to burden global trade and growth; protectionist measures dampen international exchange | Macro | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Potential US tariffs on imports could entail significant macroeconomic and earnings risks | Macro | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Handelskonflikte und neue US-Zölle beeinflussen weltweite Wirtschaft negativ | Macro | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Absence of interest rate cuts could weigh on consumer and capital expenditure | Macro | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| Automobilproduktion in Nordamerika und Europa rückläufig; deutliches Minus in Deutschland | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Automobilmarkt zeigt Abschwächung mit prognostiziertem Umsatzrückgang | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| anhaltend herausforderndes Marktumfeld belastet Nachfrage und Preise | Market | 2025-Q4 2026-02-12 21 | 2025-Q4 2026-02-12 21 |
| Zunehmender Protektionismus, Konflikte, geopolitische Unsicherheiten | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Restrictive US trade policy measures through tariffs impair supply chains and the investment climate | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Klimawandelbedingte Naturereignisse bedrohen Produktion und globale Lieferketten | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Geopolitical conflicts in Ukraine, the Middle East, and between China and Taiwan weigh significantly on international markets | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Unsichere Märkte und schwächere Nachfrage insbesondere in Automobilindustrie | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Maschinenbaukonjunktur in EU differenziert; deutliche Rückgänge in Deutschland und Italien | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Market-induced sales decline from lower price levels and soft demand in main industries | Market | 2025-Q3 5 | 2025-Q4 2026-03-13 9 |
| Regulatory uncertainties in decarbonisation and the cement industry | Market | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Risk of the unavailability of committed and qualified employees and executives | People | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Turnover rate of 12.6% with 11,424 departures | People | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Keine Korruptionsfälle im FY2025, aber umfassendes Compliance-Programm erforderlich | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Compliance risks in antitrust law can entail enormous potential for reputational and financial damage | Legal | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Corruption and bribery risks in business operations | Legal | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| CO2 certificate trading included as the economic framework of the green transformation | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Einhaltung der Corporate Sustainability Reporting Directive Anforderungen | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Unvollständige oder qualitätsmängel-behaftete Nachhaltigkeitsdaten; Prozessschwächen bei Meldung/elektronischem Transfer | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Einhaltung deutscher Lieferkettensorgfaltspflichtengesetz erforderlich | Regulatory | FY2024 7 | FY2025 2026-02-26 16 |
| Statutory minimum funding requirements for pension plans in the USA and the United Kingdom | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Neue Gesetze können höhere Kosten oder Nachteile gegenüber Wettbewerbern bergen | Regulatory | 2025-Q4 2026-02-26 10 | 2025-Q4 2026-02-26 10 |
| New legislation at national and international level may entail higher costs or disadvantages for thyssenkrupp | Regulatory | 2025-Q4 2026-03-13 19 | 2025-Q4 2026-03-13 19 |
| Deutscher Körperschaftsteuersatz sinkt 2028-2032 um 500 Basispunkte | Regulatory | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| CBAM and steel tariffs not yet having tangible effects but potential upside from political framework changes | Regulatory | 2025-Q4 2026-03-13 9 | 2025-Q4 2026-03-13 9 |
| Model-based estimates for pollutant emissions, material recycling rates and Scope 3 emissions; uncertainties accepted | Technology | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Neutralisation technologies for CO₂ capture and storage may not be recognised as an option | Technology | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Chinesische Produzenten gewinnen Marktanteile; chinesische Automobilproduktion wächst weiter | Competition | FY2025 2026-02-26 16 | FY2025 2026-02-26 16 |
| Discussion regarding the imposition of tariffs by the USA | Competition | FY2024 7 | FY2025 2026-02-26 16 |
| Ongoing restructuring initiatives at Automotive Technology and Steel Europe with employee negotiations | Legal | 2025-Q2 3 | 2025-Q2 3 |
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Reported KPIs (as disclosed) (33)#
Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. Methodology
Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
| Date | Period | KPI | Value / change | Source |
|---|---|---|---|---|
| 2026-08-13 | 2026-Q2 | Women in leadership positions A L3 FY24 25 | 17.5 | 14 |
| 2026-08-13 | 2026-Q2 | Water purchases and withdrawals FY24 25 | 292,315,523 | 14 |
| 2026-08-13 | 2026-Q2 | Water discharges FY24 25 | 277,878,656 | 14 |
| 2026-08-13 | 2026-Q2 | Waste for recycling FY24 25 | 1,348,750 | 14 |
| 2026-08-13 | 2026-Q2 | WACC FY24 25 | 11 | 14 |
| 2026-08-13 | 2026-Q2 | Total waste FY24 25 | 1,627,472 | 14 |
| 2026-08-13 | 2026-Q2 | Shares outstanding | 622,531,741 | 14 |
| 2026-08-13 | 2026-Q2 | Scope 3 FY24 25 | 186.0 | 14 |
| 2026-08-13 | 2026-Q2 | Scope 2 market based FY24 25 | 1.2 | 14 |
| 2026-08-13 | 2026-Q2 | Scope 2 location based FY24 25 | 1.1 | 14 |
| 2026-08-13 | 2026-Q2 | Scope 1 emissions FY24 25 | 19.8 | 14 |
| 2026-08-13 | 2026-Q2 | Return on equity before taxes FY24 25 | 9.8 (EUR %) | 14 |
| 2026-08-13 | 2026-Q2 | ROCE FY24 25 | 0.7 | 14 |
| 2026-08-13 | 2026-Q2 | Order backlog | >€20 bn | 15 |
| 2026-08-13 | 2026-Q2 | High Risk Suppliers FY24 25 | 43.9 | 14 |
| 2026-08-13 | 2026-Q2 | Gross Margin Pct FY24 25 | 11.3 | 14 |
| 2026-08-13 | 2026-Q2 | Gross Margin FY24 25 | 3,719 (million €) | 14 |
| 2026-08-13 | 2026-Q2 | Equity ratio FY24 25 | 36.6 | 14 |
| 2026-08-13 | 2026-Q2 | Energy efficiency gains FY24 25 | 162 GWh | 14 |
| 2026-08-13 | 2026-Q2 | EBT margin FY24 25 | 3.2 | 14 |
| 2026-08-13 | 2026-Q2 | EBIT margin FY24 25 | 0.2 | 14 |
| 2026-08-13 | 2026-Q2 | Dividend per share FY24/25 | 0.15 | 14 |
| 2026-08-13 | 2026-Q2 | Average collection period FY24/25 | 43.4 | 14 |
| 2026-08-13 | 2026-Q2 | Annual reduction emissions FY24/25 | 31.4 t CO2 | 14 |
| 2026-08-13 | 2026-Q2 | Adjusted R&D intensity FY24/25 | 2.9 | 14 |
| 2026-08-13 | 2026-Q2 | Accident Frequency Rate FY24/25 | 2.7 | 14 |
| 2026-05-18 | 2026-Q1 | Order intake | €+0.2 bn | 12 |
| 2026-05-18 | 2026-Q1 | Order backlog | >€20 bn | 12 |
| 2026-05-12 | 2026-Q1 | Return on equity before taxes | 9.8 (EUR %) | 8 |
| 2026-05-12 | 2026-Q1 | Order backlog Marine Systems | >€20 bn | 8 |
| 2026-05-12 | 2026-Q1 | Equity ratio | 36.6 | 8 |
| 2026-05-12 | 2026-Q1 | Energy efficiency gains | 162 GWh | 8 |
| 2026-05-12 | 2026-Q1 | ROCE | 0.7 | 8 |
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Guidance Tracking (latest per metric/period · 15/15)#
All management forecasts (guidance) and their later outcome. Methodology
| For period | Guided on | Metric | Guided | Verdict | Direction | Source |
|---|---|---|---|---|---|---|
| FY2026 | 2026-08-13 | EBIT | 600–900 | pending | raised | 17 |
| FY2026 | 2026-08-13 | Net income | -700–-400 | pending | raised | 17 |
| FY2026 | 2026-08-13 | Group revenue | -3–-1% | pending | confirmed | 17 |
| FY2026 | 2026-08-13 | Free cash flow pre-M&A | -600–-300 | pending | confirmed | 17 |
| FY2026 | 2026-03-13 | Revenue growth (YoY) | -2–1% | pending | confirmed | 19 |
| FY2026 | 2026-03-13 | Automotive Technology revenue | -7–-4% | pending | cut | 19 |
| FY2026 | 2026-03-13 | Decarbon Technologies revenue | -10–-7% | pending | cut | 19 |
| FY2026 | 2026-03-13 | Materials Services revenue | 2–5% | pending | raised | 19 |
| FY2026 | 2026-03-13 | Steel Europe revenue | -3–0% | pending | cut | 19 |
| FY2026 | 2026-03-13 | Marine Systems revenue | 2–5% | pending | raised | 19 |
| FY2026 | 2026-03-13 | Capital expenditures | 1,400–1,600 | pending | confirmed | 19 |
| FY2026 | 2026-02-26 | Capex | 1,400–1,600 | pending | initiated | 16 |
| FY2026 | 2026-02-26 | EBITDA (adjusted) | 500–900 | pending | initiated | 16 |
| FY2026 | 2026-02-26 | fcf_reported | -600–350 | pending | initiated | 16 |
| FY2026 | 2026-02-26 | net_income | -800–-400 | pending | initiated | 16 |
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Development#
A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Methodology
FY2026
In fiscal year 2026, thyssenkrupp reported quarterly revenues of 7,186 million, 8,380 million, and 8,786 million in Q1 through Q3 respectively, with Q3 rising 8% year-on-year driven by Materials Services, Steel Europe, and Marine Systems 17. Adjusted EBIT improved progressively across the reported quarters supported by the APEX performance management program and restructuring measures, while group net income remained negative in Q1 and Q2 due to higher restructuring charges including a €315 million provision for workforce reductions at Steel Europe, as well as impairment losses related to portfolio changes 22 20. The year was shaped by substantial portfolio transformation: Marine Systems (TKMS AG & Co. KGaA) was listed on the Frankfurt Stock Exchange on 20 October 2025 with thyssenkrupp retaining a 51% majority stake, the 50% stake in Hüttenwerke Krupp Mannesmann (HKM) was transferred to Salzgitter AG in July 2026, and shareholders voted to separate tk accelis (Materials Services) at the annual general meeting on 7 August 2026 22 20 17. The group confirmed its full-year guidance for adjusted EBIT, free cash flow before M&A, and net income following the H1 report 18, and after the Q3 report narrowed the adjusted EBIT guidance range upward, raising the lower bound from €500 million to €600 million while keeping the upper bound at €900 million 17.
FY2025
In fiscal year 2025 (October 2024 to September 2025), thyssenkrupp AG reported group revenue of 32,837 million euros, lower by 6% year on year amid weak industrial demand, particularly at Steel Europe and Automotive Technology 16. Reported operating income recovered to 76 million euros from a prior-year loss of 1,041 million euros, with EBITDA up 67% to 1,490 million euros and adjusted EBIT rising by 72 million euros to 640 million euros, supported by performance program APEX, despite impairment charges of approximately 0.6 billion euros on Steel Europe assets across the full year 16. Net income attributable to shareholders reached 465 million euros (EPS of 0.75 euros per share) compared with a net loss of 1,450 million euros in the prior year, reflecting both the operating improvement and gains from portfolio actions including the completion of the Electrical Steel India sale on January 30, 2025 for approximately 440 million euros 16. Group order intake rose 15% to 37,686 million euros, driven by large submarine order extensions at Marine Systems, whose order backlog reached a record 18.2 billion euros at fiscal year-end 16. The year was defined by the preparation and subsequent October 2025 stock market listing of Marine Systems (TKMS), the conclusion of the Neuaufstellung Stahl restructuring collective agreement with IG Metall in July 2025, and receipt of an indicative acquisition offer for Steel Europe from Jindal Steel International in mid-September 2025 16.
FY2024
In fiscal year 2024 (ending 30 September 2024), thyssenkrupp AG reported full-year revenue of 35,041 million, which the company described as down 7% versus the prior year due to geopolitical crises, weak demand, and lower prices, with Steel Europe and Automotive Technology recording the largest declines 7. The full-year operating result was -1,041 million, and the year closed with a net loss of EUR 1,986 million, of which thyssenkrupp Steel Europe accounted for impairments of EUR 1.0 billion on intangible assets and property, plant and equipment 7. Adjusted EBIT reached 567 million EUR, below the prior-year level, as improvements at Materials Services and Marine Systems could not offset declines in other segments 7. Full-year free cash flow was -172 million, while free cash flow before M&A was positive at 110 million EUR; the net financial position stood at 4,395 million EUR, above the prior-year level 7. Strategic milestones included the formation of the new Decarbon Technologies segment effective 1 October 2023, EP Corporate Group's acquisition of a 20% stake in Steel Europe in July 2024 with 50/50 joint venture negotiations ongoing, and the launch of the group-wide APEX performance program 7.
FY2023
thyssenkrupp AG reported full-year revenue of 37,536 Mio € for fiscal year 2022/2023, lower than the prior year of 41,140 Mio €, driven by significant price declines in Materials Services and a weaker market environment in Steel Europe 1. Adjusted EBIT fell to 703 Mio € and the adjusted EBIT margin declined to 1.9%, reflecting the absence of prior-year price tailwinds and higher raw material and energy costs 1. The group recorded a net loss of 2,072 Mio € (diluted EPS: -3.33), driven primarily by impairment charges of 1,765 Mio € in Steel Europe in the fourth quarter due to higher cost of capital and an economic downturn 1. Full-year free cash flow reached 457 Mio €, supported by a strong reduction in net working capital in the final quarter, with cash and equivalents of 7,339 Mio € and net financial assets of 4,314 Mio € at year-end 1. Key events in the year included the IPO of thyssenkrupp nucera in July 2023, receipt of approximately 2 Mrd € in government funding commitments for the tkH2Steel decarbonisation project, the launch of the APEX performance improvement programme, and a portfolio realignment with the formation of the new Decarbon Technologies segment 1.
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Glossary#
- Revenue: Revenue from contracts with customers, net of sales deductions, as the company itself reports it; not total output, gross revenue, GMV or order intake.
- Op. income: The operating line of the income statement; EBIT only as a marked fallback, never pre-tax or ordinary income.
- Net income: Net income attributable to the shareholders of the parent, after discontinued operations; not the result including minority interests, not comprehensive income.
- EPS: Diluted earnings per share attributable to the shareholders of the parent; a printed figure always beats a calculated one, calculated values are marked.
- FCF: Free cash flow = operating cash flow minus capital expenditure on property, plant and equipment; the company's own free cash flow figure is shown separately.
- OCF: Cash flow from operating activities as reported; IFRS companies may show interest paid in financing cash flow, so the figure is not always comparable.
- Cash: Cash and cash equivalents, without securities unless the company reports them as part of the position.
- Net Debt: Net debt = financial debt excluding lease liabilities minus cash at the same reporting date; the company's own net position may differ.
- *: derived, the formula is in the hover
- ≈: calculated, approximation
- ~: uncertain; the value stays visible, verdicts do not use it
- °: repaired by a targeted query against the document, or curated with documentary evidence
- EBIT: EBIT as a fallback: the income statement carries no operating line
- basic: basic earnings per share as a fallback when diluted is missing
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Sources: quarterly reports, annual reports and investor relations documents#
All original documents NadirAlpha used for this report, with type (quarterly report, half-year report, annual report, earnings release), publication date and a direct link to the filing (EDINET/SEC/IR). Methodology
35 documents · 2023 to 2026 · IR
| # | Document type | Published | Link |
|---|---|---|---|
| #1 / #101 | IR-Report report | – | Open |
| #2 | IR-Quarter quarterly report | – | Open |
| #3 / #103 | IR-Quarter quarterly report | – | Open |
| #5 | IR-Quarter quarterly report | – | Open |
| #6 / #106 | IR-Quarter quarterly report | – | Open |
| #7 / #108 | IR-Annual annual report | – | Open |
| #23 | IR-Quarter quarterly report | – | Open |
| #24 | IR-Half half-year report | – | Open |
| #26 | IR-Quarter quarterly report | – | Open |
| #27 | IR-Quarter quarterly report | – | Open |
| #28 | IR-Quarter quarterly report | – | Open |
| #30 | IR-Quarter quarterly report | – | Open |
| #31 | IR-Quarter quarterly report | – | Open |
| #25 | IR-Half half-year report | 2023-08-09 | Open |
| #4 / #104 | IR-Quarter quarterly report | 2023-10-01 | Open |
| #29 | IR-Half half-year report | 2023-10-01 | Open |
| #32 | IR-Half half-year report | 2023-10-01 | Open |
| #13 | IR-Report report | 2025-09-30 | Open |
| #21 | IR-Quarter quarterly report | 2026-02-12 | Open |
| #10 / #111 | IR-Quarter quarterly report | 2026-02-26 | Open |
| #16 / #117 | IR-Annual annual report | 2026-02-26 | Open |
| #33 | IR-Half half-year report | 2026-02-26 | Open |
| #34 | IR-Half half-year report | 2026-02-26 | Open |
| #35 | IR-Annual annual report | 2026-02-26 | Open |
| #9 | IR-Quarter quarterly report | 2026-03-13 | Open |
| #11 | IR-Quarter quarterly report | 2026-03-13 | Open |
| #19 / #121 | IR-Quarter quarterly report | 2026-03-13 | Open |
| #8 / #109 | IR-Quarter quarterly report | 2026-05-12 | Open |
| #18 | IR-Quarter quarterly report | 2026-05-12 | Open |
| #22 / #124 | IR-Quarter quarterly report | 2026-05-12 | Open |
| #12 | IR-Quarter quarterly report | 2026-05-18 | Open |
| #14 / #115 | IR-Quarter quarterly report | 2026-08-13 | Open |
| #15 | IR-Quarter quarterly report | 2026-08-13 | Open |
| #17 | IR-Quarter quarterly report | 2026-08-13 | Open |
| #20 / #122 | IR-Quarter quarterly report | 2026-08-13 | Open |
FAQ#
Is there a management forecast (guidance) for FY2026?
Yes. Management has issued targets for FY2026, including EBIT. The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.
Does thyssenkrupp AG pay a dividend?
The filings report on the dividend; most recent entry: dividend per share 0.15 (2026-Q2) (as reported, no assessment of our own). Details with source links are in the report chapters.
Where can I find the official investor relations documents of thyssenkrupp AG?
NadirAlpha links all 47 original filings used (IR documents) in the sources chapter: quarterly report, half-year report, annual report, each with type, publication date and a direct link; every figure in the report carries a source number.
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