thyssenkrupp (TKA) AGM 2025 summary

Opening remarks and agenda

• AGM was held virtually to increase accessibility and reduce costs, with all agenda and reports published in advance.

• The meeting covered financial results, board discharges, auditor election, remuneration, and renewal of virtual AGM authorization.

• Shareholder participation represented 47.96% of share capital, with 294 shareholders connected electronically.

Financial performance review

• Sales declined by 7% to EUR 35 billion, but adjusted EBIT reached EUR 567 million, within forecast.

• Free cash flow before M&A was EUR 110 million, exceeding the revised forecast.

• Equity ratio remained strong at 35%, and net financial assets improved to EUR 4.4 billion.

• Moody's and S&P maintained positive and stable outlooks, respectively.

Board and executive committee updates

• Executive Board saw changes: Jens Schulte departed, Oliver Burkhard shifted focus to Marine Systems, and new Steel Europe board appointed.

• Supervisory Board held 37 meetings with 98.5% attendance, focusing on performance, portfolio, and governance.

• Remuneration and succession planning were key topics, with a new CFO search underway.