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thyssenkrupp (TKA) investor relations material
thyssenkrupp Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary9 Dec, 2025
Executive summary
Transformation to a financial holding company advanced, including the ACES 2030 model and increased entrepreneurial freedom for segments.
Successful spinoff and stock market listing of TKMS, delivering over 14% value creation for shareholders and serving as a blueprint for future segment realignments.
Realignment and collective restructuring agreement reached in Steel Europe, supporting sustainable and competitive operations.
Negotiations for the sale of the steel business to Jindal Steel are progressing positively, with due diligence ongoing.
Financial highlights
Group sales €32.8bn, down 6% year-over-year, mainly due to weak demand and market headwinds.
Adjusted EBIT increased by €72mn year-over-year to €640mn (1.9% margin), despite the sales drop.
Net income for the year was €532mn, with a significant positive impact from elevator stake valuation and TKE reclassification effects.
Free cash flow before M&A was positive for the third consecutive year at €363mn, up €253mn year-over-year.
Net cash position stands at €4.9bn as of September 2025, bolstered 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.
Group sales expected to range from -2% to +1% versus prior year, with adjusted EBIT guidance of €500–900mn.
Free cash flow before M&A forecasted at €-600mn to €300mn, reflecting higher restructuring outflows.
Net income guidance for the group is between -€800mn and -€400mn, 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.
Jindal Steel deal structure: majority stake details?
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Next thyssenkrupp earnings date
Q1 202612 Feb, 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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