Thyssenkrupp Ag Stock Earnings Reports

ThyssenKrupp reported a challenging Q2 driven by weak end markets (automotive, steel and parts of material services) but reiterated full-year guidance, citing the effectiveness of its APEX 2.0 cost and restructuring measures. Key balance-sheet positives: ~EUR4bn net cash and repayment of the last bond, making the group debt-free. Portfolio moves and cash items: ~EUR400m proceeds from the sale of Key Electrical Steel India and a EUR105m reversal related to the Elevator stake valuation. Marine Systems is a standout performing business (new Singapore submarine order, strong margin momentum) and a minority spin-off is targeted for calendar year 2025. Steel Europe reached an agreement in principle with IG Metall on the industrial concept with collective-bargaining negotiations expected to conclude in summer — a critical step toward Steel Europe’s restructuring and the DRI project continues to progress on site. Automotive Technology faces continued volume weakness and will implement further cost measures (targeting ~EUR150m run-rate savings, ~1,800 indirect FTE reductions and closure of the Hagen site). Free cash flow before M&A was negative in H1 (seasonal and one-off timing impacts, including Marine Systems tax payments), but the company maintains guidance for positive FY free cash flow of EUR0–300m. Tariff developments in the U.S. are being monitored; so far, ThyssenKrupp reports no net negative impact due to local-for-local setups and pass-throughs on affected businesses. Management emphasizes disciplined, targeted capex allocation (ongoing large investments in Steel Europe DRI and remaining Strategy 2030 projects, plus selective growth investments in Marine, North America and strategic AT areas).