Q3 2025 thyssenkrupp AG Earnings Call Transcript
Key Points
- thyssenkrupp AG (TKAMY) is progressing well with its strategic transformation into a holding company with independently managed business segments, enhancing flexibility and transparency.
- The spinoff of Marine Systems is on track for a listing in 2025, with strong shareholder support and a record order backlog.
- Despite market headwinds, the company has maintained positive free cash flow before M&A for three consecutive years, demonstrating operational discipline.
- The partnership between Uhde and Uniper marks a significant step towards industrial-scale hydrogen production, aligning with the company's green transformation goals.
- The company has received approval from the Science Based Targets initiative for its updated climate goals, reinforcing its commitment to sustainability.
- thyssenkrupp AG (TKAMY) has lowered its sales guidance due to ongoing market challenges, including weak demand in key sectors like automotive and construction machinery.
- The company reported a 9% year-over-year sales decline in Q3, with significant decreases in its Steel and Materials businesses.
- Net income for the quarter was negatively impacted by the devaluation of deferred tax assets and impairments, resulting in a loss of EUR255 million.
- The company faces cash flow volatility, with a negative free cash flow of EUR227 million in Q3, although it expects improvement by year-end.
- There is uncertainty regarding tariff developments, which could indirectly impact the company's operations, particularly in the US market.
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 nine months results '24/'25 of thyssenkrupp. With me in the room, 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 their presentations. All the documents for this call are available in the IR section on the website. The call will be recorded and the replay will be available shortly after the call. (Event Instructions)
And with that, I would like to hand over to our CEO, Miguel Lopez.
Thank you, Andreas, and good morning, everyone. Welcome to our Q3 conference call, the first time today with our new CFO, Axel Hamann, who will introduce himself in a couple of minutes. Let's dive straight into the management summary for
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