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thyssenkrupp (TKA) investor relations material
thyssenkrupp Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strategic transformation advanced with Marine Systems spin-off approved for 2025 and Steel Europe restructuring, including a 20% stake sale to EPG and plans for a 50/50 JV, targeting increased flexibility and value creation.
Q3 delivered resilient performance despite persistent market headwinds, with ongoing restructuring and transformation initiatives showing early effects.
Order intake rose 23% year-over-year to €30.7 billion, driven by major Marine Systems contracts, while sales declined 6% to €24.6 billion due to lower demand and prices in key segments.
Group focus remains on performance improvement, free cash flow generation, and enabling green transformation through investments and partnerships.
Green transformation initiatives progressed, including DRI plant construction, Science Based Targets initiative approval, and a strategic partnership with Uniper to convert imported ammonia to hydrogen.
Financial highlights
Q3 sales at €8.2bn, down 9% year-over-year; 9M sales at €24.6bn, down 6% year-over-year.
Adjusted EBIT for Q3 at €155mn (up €7mn YoY); 9M at €365mn (slightly below prior year).
Net income for Q3 at -€255mn, impacted by deferred tax asset devaluation and steel impairments; net loss for 9M narrowed to €121mn from €410mn.
Free cash flow before M&A in Q3 at -€227mn, improved by €28mn YoY; 9M at -€817mn, improved by €166mn YoY.
Net cash position at €3.7bn; equity ratio at 34.9%.
Outlook and guidance
FY 2024/25 sales now expected at -7% to -5% YoY (previously -3% to 0%).
Adjusted EBIT guided to lower end of €600–1,000mn range.
Free cash flow before M&A guidance unchanged at €0–300mn.
Planned investments reduced to €1.4–1.6bn.
Segment guidance: Automotive sales -7% to -5%, EBIT at lower end of €200–300mn; Decarbon Technologies sales -9% to -5%; Materials Services sales -6% to -3%, EBIT €100–150mn; Steel sales -10% to -8%, EBIT €250–500mn; Marine Systems sales -2% to 1%, EBIT €100–250mn.
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