Q4 2025 thyssenkrupp AG Earnings Call Transcript

Dec 09, 2025 / 11:30AM GMT

Release Date Price: €8.92 (-6.81%)

Transcript

Key Points

Positve

thyssenkrupp AG (TKAMY) successfully listed TKMS by a spin-off on the stock exchange, unlocking significant value for shareholders.
The company reported a strong fourth quarter with an EBIT adjusted of EUR 274 million, leading to a financial year figure of EUR 640 million, an increase of EUR 72 million year-over-year.
thyssenkrupp AG (TKAMY) achieved a positive net income of EUR 532 million, benefiting from elevator valuation effects.
The company maintained a positive free cash flow before M&A for the third consecutive year, amounting to EUR 363 million.
thyssenkrupp AG (TKAMY) is realigning its group structure to increase accountability and transparency, aiming to transform into a financial holding company with strong independent entities.

Negative

thyssenkrupp AG (TKAMY) faced persistent market headwinds, with a sales decline of around 6% over the fiscal year.
The company experienced weak demand across most customer groups and regions, particularly impacting the automotive and steel sectors.
Despite restructuring efforts, the Automotive Technology segment saw a decline in sales by 7% year-over-year.
The company anticipates a negative free cash flow before M&A in the range of minus EUR 600 million to EUR 300 million for the next fiscal year.
thyssenkrupp AG (TKAMY) is facing ongoing restructuring challenges, particularly in the Steel Europe division, with potential further impairments not excluded.

Andreas Troesch

thyssenkrupp AG - Head of Investor Relations

Hello, everyone. This is Andreas Troesch from Investor Relations. Also, on behalf of my entire team, I wish you a very warm welcome to our conference call on the full year results '24, '25. With me in the room are our CEO, Miguel Lopez; and our CFO, Axel Hamann, plus my colleagues from the Investor Relations team.

I have some housekeeping before I hand over to the CEO and CFO for the presentations. All the documents for this call are available in the IR section on the website. The call will be recorded, and a replay will be available shortly after the call. After the presentations, there will be the usual Q&A session for analysts. (Event Instructions)

And with that, I would like to hand over to our CEO, Miguel Lopez.

Miguel Borrego

thyssenkrupp AG - Chief Executive Officer, Member of the Executive Board

Thank you, Andreas, and hello, everyone. Welcome to our conference call for fiscal year '24, '25. Please let me start with a recap from our key strategic milestones in the

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