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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
thyssenkrupp
thyssenkrupp (TKA) investor relations material
thyssenkrupp Q4 24/25 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 24/25 earnings summary9 Dec, 2025
Executive summary
Strategic transformation advanced with the shift to a financial holding structure, ACES 2030 model, and increased entrepreneurial freedom for segments.
Successful spinoff and MDAX listing of TKMS, delivering over 14% value creation for shareholders, with 49% of shares distributed and 51% retained.
Major restructuring agreements reached, especially in Steel Europe, including a collective agreement with IG Metall and secured financing until 2030.
Negotiations for the sale of the steel business to Jindal Steel are progressing, with due diligence ongoing.
Order intake rose 15% year-over-year to €37.7 billion, driven by Marine Systems.
Financial highlights
Group sales declined 6% year-over-year to €32.8 billion, mainly due to weak demand and market headwinds.
Adjusted EBIT increased by €72 million year-over-year to €640 million (1.9% margin), up 13%.
Net income reached €532 million, a turnaround from a €1,450 million loss, aided by one-time gains and TKE reclassification effects.
Free cash flow before M&A was positive for the third consecutive year at €363 million, up €253 million year-over-year.
Net cash position at €4.9 billion, supported by asset sales and positive cash flow.
Outlook and guidance
Fiscal year 2025/2026 expected to be a year of implementation, with continued restructuring and market uncertainty.
Sales projected to range from -2% to +1% year-over-year, with adjusted EBIT guidance of €500–900 million.
Free cash flow before M&A expected between -€600 million and -€300 million, reflecting higher restructuring outflows.
Net income guidance for the group is between -€800 million and -€400 million, mainly due to restructuring provisions.
Midterm targets remain: adjusted EBIT margin of 4%-6%, significant positive free cash flow before M&A, and reliable dividends.
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Next thyssenkrupp earnings date
AGM 202630 Jan, 2026
thyssenkrupp
Next thyssenkrupp earnings date
AGM 202630 Jan, 2026
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Frequently asked questions
thyssenkrupp AG is an industrial conglomerate primarily focused on steel production, raw materials trading and engineering. Its main activities consist of: Steel, which produces alloy and carbon steel for the automotive industry in Europe and North America; Elevator Technology, which is one of the leading elevator companies in the world through brands such as ThyssenKrupp, and Maxxon; Components Technology, which focuses on light-weight aluminum components for automotive producers; Materials Services with materials supply the automotive and industrial sectors; Subsea based in Norway; Marine Systems with manufacturing plants in Northern Germany which focuses on naval vessels and submarines, including diesel engines and gearboxes produced by Blohm + Voss; and Automotive Technologies, which was split off from Components Technology.
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