• Compared with the prior-year quarter, order intake increased by 32% to €10.6 billion, driven by major orders at Marine Systems

• Sales down slightly to €8.4 billion due to price and demand factors

• Adjusted EBIT improved to €198 million (prior year: €19 million) due to significant operational progress; all segments except Decarbon Technologies improve earnings

• Full-year forecast confirmed for key performance indicators of adjusted EBIT, free cash flow before M&A and net income

• Transformation making progress: Sale of Automation Engineering to Agile Robots completed; implementation of new shareholder structure for HKM in preparation

• CEO Miguel López: “We will continue to focus on the consistent transformation of thyssenkrupp into a financial holding company. To this end, we are making structural changes to the segments.”

In the 2nd quarter of fiscal year 2025/2026, thyssenkrupp further improved its operational performance in a persistently challenging market environment. At the same time, the group resolutely drove ahead with its transformation under the ACES 2030 strategy program.

Order intake was significantly above the prior-year figure, mainly due to the strong performance of Marine Systems. Despite a slight decline in sales, adjusted EBIT increased significantly compared with the prior-year quarter. This development was buoyed by positive effects from the APEX performance program. On this basis, the group has confirmed its full-year forecast for the key performance indicators of adjusted EBIT, free cash flow before M&A and net income.

Miguel López, CEO of thyssenkrupp AG: “The tangible improvement in earnings is evidence that the consistent implementation of our APEX performance program is taking effect. At the same time, the transformation of thyssenkrupp is progressing well. The sale of Automation Engineering is a key success in the realignment of Automotive Technology. The planned sale to Salzgitter of the stake in HKM held by thyssenkrupp Steel is a further important step in ensuring the competitiveness of the steel business. We remain focused on making structural changes to the segments, thus driving the transformation of thyssenkrupp into a financial holding company.”

Key indicators of the thyssenkrupp group in the 2nd quarter of 2025/2026

Order intake in the 2nd quarter (January to March) amounted to €10.6 billion, which was €2.6 billion above the prior-year figure. At Marine Systems, the main drivers were the addition of two further 212CD class submarines in an extension of the order for Norway and additional orders received by the marine electronics business. Decarbon Technologies also posted significantly higher order intake, mainly in the water electrolysis business of thyssenkrupp nucera. Materials Services likewise performed positively, whereas Automotive Technology and Steel Europe posted slight declines in order intake.

At €8.4 billion, group sales were slightly below the level of €8.6 billion a year earlier. There were declines in particular at Steel Europe due to lower prices and at Automotive Technology due to fewer customer call-offs. Sales fell at Decarbon Technologies, mainly due to declines in the water electrolysis business of thyssenkrupp nucera and in the new construction business of chemical plant engineering. By contrast, Materials Services increased sales, especially because of the distribution business in North America and the international trading business. Marine Systems also increased sales as a result of the project progress achieved.

Compared with the prior year, adjusted EBIT improved by €179 million to €198 million. Although its sales revenues remained lower, Steel Europe made the largest contribution to earnings, mainly due to reduced raw material and energy costs. Moreover, the restructuring program already had an effect on personnel expenses. Materials Services likewise posted significant earnings growth, buoyed by consistent cost-cutting measures, efficiency programs and higher prices. Automotive Technology also benefited from the restructuring and efficiency measures that have been implemented. At Decarbon Technologies, project-related additional costs in the water electrolysis business of thyssenkrupp nucera resulted in lower and slightly negative earnings. This was partly offset by a positive one-time effect in chemical plant engineering. At Marine Systems, adjusted EBIT was in line with the positive sales trend.

Overall, thyssenkrupp posted a net loss of €(11) million in the 2nd quarter. The year-on-year change (prior year figure: €167 million) was primarily attributable to the absence of the post-tax profit of around €270 million resulting from the sale of tk Electrical Steel India in the prior-year quarter. Net income after deducting minority interest was €1 million (prior year: €155 million); earnings per share came to €0.00 (prior year: €0.25).

As of the reporting date of March 31, 2026, equity amounted to €10.3 billion and thus remained stable compared with the previous quarter (December 31, 2025: €10.3 billion). The equity ratio remained at a comfortable value of 36 percent.

Free cash flow before M&A was €(327) million (prior year: €(569) million), a tangible improvement primarily because of higher earnings contributions and the absence of sales tax payments of €160 million in connection with the advance payment received by Marine Systems in the 1st quarter of 2024/2025.

As of March 31, 2026, net financial assets were €2.8 billion (December 31, 2025: €3.2 billion). Available liquidity (cash and cash equivalents and undrawn committed credit lines) stood at €4.6 billion.

Dr. Axel Hamann, CFO of thyssenkrupp AG: “The positive performance in the second quarter is evidence that our targeted cost-cutting measures and efficiency programs are taking effect and being reflected increasingly in the company’s figures. We are confirming our forecast for all key performance indicators – we remain slightly cautious only in respect of our sales forecast, not least because of heightened geopolitical uncertainties and their impacts on the international markets.”

Group forecast for fiscal year 2025/2026 confirmed

Notwithstanding the persistently challenging market environment, thyssenkrupp confirms the group forecast for key earnings and cash flow indicators for fiscal year 2025/2026. The sales forecast has been amended slightly:

The group continues to expect a figure between €500 million and €900 million for adjusted EBIT. It still anticipates that free cash flow before M&A will be between €(600) million and €(300) million; this figure includes the expenses for restructuring, especially at Automotive Technology and Steel Europe. A range of between €(800) million and €(400) million is still forecast for net income. In particular, it includes the establishment of restructuring provisions at Steel Europe.

The sales forecast has been adjusted by one percentage point to (3)% to 0 % compared with the prior year (previously: (2)% to +1%). This primarily results from delayed revenue recognition at Decarbon Technologies and a changed product mix at Steel Europe.

Strategic performance in the 2nd quarter of 2025/2026

thyssenkrupp continues to work purposefully on transforming the group by implementing the ACES 2030 future model. The focus is on the transition of thyssenkrupp AG to a financial holding company that serves as the umbrella for strong and independent companies.

Automotive Technology continues to operate in a challenging market environment and is pressing ahead with its portfolio adjustments aimed at ensuring profitable growth and sustainably enhancing capital market readiness.  The sale of the Automation Engineering business to Munich-based Agile Robots SE was completed successfully at the end of March 2026. In this way, the segment is continuing its realignment with a focus on its four core areas: chassis, components, aftermarket and forgings.  

Decarbon Technologies remains focused on efficiency, scalability and future viability. Rothe Erde is realigning its holding structure, relocating its management team to the Netherlands so that it can consistently develop its international reach. In this way, the company is laying the structural foundation for managing its global production and sales network more efficiently, improving its network of expertise and further enhancing its proximity to international markets. In the context of its strategic realignment, Polysius is strengthening its profile as a provider of service and modernization solutions to extend plant life cycles and improve efficiency.

Materials Services is continuing to evolve from a traditional materials supplier to a modern supply chain service provider. The segment has made investments to further increase its copper processing capacities in North America. Through the acquisition of a majority investment in Aceroteca Trading, S.A.P.I. de C.V., Materials Services has also secured a steel-processing platform in a process industry hub in Mexico. In the field of supply chain solutions, Pacemaker has launched a new AI-based inventory management application to ensure product availability in the event of demand fluctuations and reduce warehousing costs.

Steel Europe is on track with the operational implementation of the strategic realignment that has been initiated. In this connection, preparations are continuing for the agreed sale of the stake in Hüttenwerke Krupp Mannesmann (HKM) to Salzgitter AG. Completion of the transaction is planned for June 1, 2026. In addition, the stronger trade safeguards for steel products announced recently by the European Union are boosting the efforts to ensure fairer competitive conditions for Europe’s steel industry. Despite the challenging economic environment and regulatory uncertainty, construction of the direct reduction plant in Duisburg is progressing further. Against the backdrop of the significantly improved earnings prospects for Steel Europe, thyssenkrupp AG and Jindal Steel International mutually decided to pause discussions on the potential acquisition of a stake in thyssenkrupp Steel Europe. A stand-alone solution for thyssenkrupp Steel Europe remains the stated goal.

With an order backlog of more than €20 billion as of March 31, 2026, TKMS (Marine Systems segment) is in an excellent position to achieve future growth. The German Parliament’s Budget Committee additionally approved an extension of the preliminary contract for the MEKO® A 200 DEU project, thus completing a key step in the procurement of four TKMS frigates to strengthen the Germany Navy. In connection with the ongoing tender process for Canada’s submarine program, TKMS has signed several cooperation agreements aimed at sustainably integrating Canadian supply chains into future submarine projects. Moreover, TKMS has signed a memorandum of understanding with Spanish company Navantia S.A. concerning the assessment of a strategic collaboration in marine projects in Europe and worldwide, focusing on the possible construction of TKMS vessels – especially submarines – at Navantia’s shipyards in Spain.

thyssenkrupp AG and Jindal Steel International have mutually decided to pause discussions about the company acquiring a stake in thyssenkrupp Steel Europe. The original assumptions and prerequisites for a potential sale of thyssenkrupp Steel have significantly changed in recent months. thyssenkrupp has made significant progress in realigning its steel segment. This is particularly evident in the recently concluded collective restructuring agreement on restructuring with IG Metall and the shareholders' agreement on the future positioning of the southern Duisburg site.

Changed Regulatory Framework

Additionally, the regulatory environment for the steel industry in Europe has changed significantly, becoming fundamentally more favorable. This offers the sector significant potential for stabilization and growth. This remains true despite the current surge in energy prices caused by the war in Ukraine, which is driving up global energy costs. The European Union recognizes the critical importance of steel production for the resilience of industrial value chains. It has expressed commitment to protecting the European steel industry from global overcapacity and dumping, while accelerating the transition to climate-friendly steel production. Measures include tightening import quotas, doubling protective tariffs when these quotas are exceeded, introducing a Carbon Border Adjustment Mechanism (CBAM), and establishing an EU Steel Action Plan.

Significant potential for value creation at thyssenkrupp Steel

"We have always said: Steel is the future. A sustainable business is a valuable business," explained Miguel López, CEO of thyssenkrupp AG. "Now that we have reached an agreement in principle within our own company, with labor unions, and with policymakers in Germany and Europe, the conditions for the profitable continuation of thyssenkrupp Steel is better than they have been in a long time. Jindal has been a constructive and committed partner throughout the discussions. However, we have jointly agreed to pause negotiations for now.”

“We thank thyssenkrupp for working constructively through the negotiations. Even though we have decided to pause the deal for the time being we remain connected in friendship and our shared goal remains to work on building low-carbon steel production in Europe“, said Narendra Misra, Director of European Operations of Jindal.

Objective of establishing thyssenkrupp Steel as an autonomous entity remains unchanged

thyssenkrupp will continue to drive the restructuring of the segment independently, in order to prepare the steel business for success and profitability. Significant progress has already been made in recent months. The industrial strategy for the future of thyssenkrupp Steel and the collective restructuring agreement with IG Metall have laid a solid foundation for addressing the structural challenges. Another important step was the agreement reached with Salzgitter in early February on a paper outlining key points regarding the future of HKM. This has given the southern Duisburg site new prospects. Meanwhile, policymakers are increasingly addressing the challenges facing the steel industry, particularly with regard to trade protection measures against unfair competition and global overcapacity. Against this promising backdrop, the stated medium-term goal remains to establish the independence of thyssenkrupp Steel Europe while thyssenkrupp AG may retain a minority stake.

Realignment of thyssenkrupp

With its ACES 2030 strategy, thyssenkrupp AG aims to spin off its segments or open them up to third-party investments. In this context, thyssenkrupp AG will transform into a financial holding company. "The more successfully thyssenkrupp Steel Europe implements the realignment that has been set in motion, the more attractive this business will become for the capital market and investors. "We expect German and European policymakers to reliably deliver on their specific commitments to ensure resilience," said López.

• Front End Engineering Design to be delivered by Uhde’s global expert network

thyssenkrupp Uhde has been selected by Brunei Fertilizer Industries Sdn Bhd (BFI) to execute the Front End Engineering Design (FEED) for the expansion of BFI’s ammonia handling and export infrastructure. The project comprises the design of a new cryogenic ammonia storage tank and the development of a dedicated ammonia export facility, including jetty integration and ship‑loading systems to enable large‑scale exports to global markets. The FEED will be executed in Uhde’s global engineering network, combining the uhde^® ammonia technology expertise with Uhde India’s competence in cryogenic storage and ammonia logistics.

The scope includes the design of a cryogenic ammonia storage tank using Uhde India’s proven global engineering standards, development of ammonia export facilities, including jetty interface, pipelines, and ship‑loading arms. Uhde will also take care of an optimized integration into the existing BFI complex to ensure reliable and safe export operations. The project marks another important milestone in the relationship between thyssenkrupp Uhde and BFI. thyssenkrupp Uhde previously provided key technologies and engineering services for BFI’s large‑scale ammonia and urea complex, one of Southeast Asia’s most modern fertilizer plants.

“We are very pleased to continue our close collaboration with Brunei Fertilizer Industries,” said Nadja Håkansson, Member of the Executive Board / COO of thyssenkrupp Decarbon Technologies & CEO of thyssenkrupp Uhde. “BFI is an important partner for us in Asia, and this new FEED award underlines their confidence in our engineering capabilities. By supporting the expansion of their export infrastructure, we are helping to further unlock Brunei’s potential in the ammonia market and increase their contribution to global food security.”

BFI emphasized the strategic importance of the project: “At BFI, we are committed to expanding our footprint and contributing to Brunei’s role in the global fertilizer and energy transition landscape,” said Harri Kiiski, CEO of Brunei Fertilizer Industries. “thyssenkrupp Uhde has been a trusted partner from the start, and their deep technical expertise makes them an ideal choice for this critical development step. The new export facilities will enhance our competitiveness, and open new market opportunities worldwide.”

A contribution to global food security and future energy markets

The BFI plant was built by thyssenkrupp Uhde as a fully integrated, state-of-the-art fertilizer complex which comprises an ammonia plant with a daily capacity of 2,200 metric tons as well as a urea plant and a urea granulation plant, both with a capacity of 3,900 metric tons per day. After its completion, the plant enabled Brunei to produce high-quality nitrogen fertilizer mainly for the export market. Nitrogen is an essential nutrient for plant growth and therefore a key agricultural input. With the expansion of their export capabilities, BFI further strengthens its contribution to securing nutrition around the globe. As ammonia is increasingly recognized as a potential clean energy carrier, BFI also enhances their position to meet rising global demand in the emerging low‑carbon energy value chains.

• Important signal for European naval defense portfolio availability. 

• Agreement envisages potential production of TKMS vessels, particularly submarines, at Navantia’s shipyards in Spain. 
  

• Geopolitical developments have significantly increased short term demand for availability of modern naval products. 
  

• Europe continues to see significant bottlenecks regarding shipyard capacity and technological resources 

TKMS AG & Co. KGaA  (TKMS), one of the world’s leading providers of maritime defense solutions including conventional submarines, naval ships and innovative electronics solutions, and Spanish company Navantia S.A., SME (Navantia), one of  Europe’s market leaders in the design, construction and through life support of naval ships and submarines as well as combat systems integrator, have signed a Memorandum of Understanding to explore strategic cooperation on naval projects in Europe, NATO and worldwide. The agreement foresees potential production of TKMS designs, particularly submarines, at Navantia’s shipyards in Spain.

Geopolitical developments in recent years have significantly increased demand for modern naval products. At the same time, there are considerable bottlenecks in shipyard capacity and technological resources across Europe. Against this backdrop, TKMS and Navantia intend to explore how closer industrial cooperation can help implement projects more efficiently, quickly, and cost-effectively. The parties have agreed to initiate management level discussions based on mutual trust and in full compliance with all competition and export control regulations. 

Oliver Burkhard, CEO of TKMS, says: “The signing of this Memorandum of Understanding is an important signal for European maritime defense. At a time when our customers’ security requirements are growing and manufacturing capacity is limited, it is crucial that European industrial companies collaborate more closely. TKMS and Navantia jointly have the expertise, infrastructure, and experience to overcome these shared challenges and strengthen the ability to deliver to our partner nations’ armed forces.”

Volkmar Dinstuhl, Chairman of the Supervisory Board of TKMS adds: “TKMS has been a global market leader in non-nuclear submarines for decades. We share Navantia’s commitment to the highest quality standards and the clear goal of delivering quickly and reliably to our customers. This Memorandum of Understanding enables us to leverage synergies between our shipyard capacities and to act together as strong European partners.”

Miguel López, Deputy Chairman of the Supervisory Board of TKMS and CEO of thyssenkrupp AG explains: “As the majority shareholder of TKMS, thyssenkrupp AG bears responsibility for the strategic direction of one of Europe's leading naval companies. Our task is to enable TKMS to meet the growing international demand for modern naval systems. A partnership with Navantia is a promising approach to achieving this.”

Ricardo Domínguez, Navantia Executive Chairman, states: “Today we are taking a significant step towards our shared goal of strengthening Europe’s strategic autonomy and sovereignty in defence. This collaboration will deliver cutting‑edge capabilities to our armed forces while leveraging the full potential of European defence investment. As leading players in the naval and defence domain, Navantia and TKMS are committed to actively contributing to this common European effort.” 

Gonzalo Mateo-Guerrero, Navantia Chief Operating Officer, adds: “European defence companies share a responsibility to respond decisively to today’s challenges. Europe needs an industry capable of providing not only state‑of‑the‑art technologies, but also ensuring fast, reliable delivery and long‑term sustainment, while strengthening the European industrial ecosystem and supporting its SMEs.” 

• The European Resilience Alliance for Clean Hydrogen & Derivatives (ERA) launches today, in an event opened by Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition for the European Commission.

• ERA is a pan-European, CEO-led initiative bringing together leading industrial companies across the clean-hydrogen value chain to accelerate and scale clean hydrogen deployment in Europe.

• ERA’s mission is to advance Europe’s industrial decarbonisation and resilience by producing its own low-carbon fuels, industrial input materials, and products. ERA aims to mobilise a unified coalition for policy and bankability across the value chain, as well as to build scalable markets, clusters, and cross-border corridors to promote scale and self-reliance.

• The alliance – whose founding members include ENAGÁS, FLUXYS, FORTUM, GASGRID FINLAND, MOEVE, NORDION ENERGI, OGE, RWE, SEFE, STEGRA, and THYSSENKRUPP, in cooperation with HYDROGEN EUROPE – has published a white paper setting out concrete policy recommendations to close the gap between ambition and deployment of clean hydrogen projects in Europe.

Today, the European Resilience Alliance for Clean Hydrogen & Derivatives (ERA) was officially launched at the European Parliament in Brussels, in an event opened by Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition for the European Commission, and co-hosted by Members of the European Parliament Andrea Wechsler and Nicolás González Casares. The ERA launch event was attended by key policymakers and industry leaders.

Andrea Wechsler said "Europe’s energy transition is not just about decarbonization – it is about building a resilient sovereign energy system that delivers for both citizens and industry. Resilience must become one of the guiding principle of our energy policy, grounded in diversification, system integration, and credible market frameworks that turn ambition into investment."

González Casares MEP said: “Decarbonization needs green hydrogen, europe's competitiveness need it as well. Europe’s green transition is our sovereignty policy, and renewable hydrogen is a key element of its industrial vision. This is our opportunity to build a sovereign and resilient energy model that is powered by homegrown energy, and driven by technological leadership made in Europe”.

ERA is a pan-European, CEO-led initiative uniting leading industrial companies across the clean-hydrogen value chain to address Europe's energy challenges, enhance industrial competitiveness, and secure strategic autonomy in the face of rapidly changing geopolitical and industrial pressures.

ERA’s founding members include ENAGÁS, FLUXYS, FORTUM, GASGRID FINLAND, MOEVE, NORDION ENERGI, OGE, RWE GENERATION, SEFE, STEGRA, and THYSSENKRUPP, in cooperation with HYDROGEN EUROPE, representing the full clean hydrogen value chain across the European Union.

ERA will work through two core pillars to translate Europe’s climate and competitiveness ambitions into cost-competitive, deliverable projects. First, it will provide a unified voice towards policymakers at EU, national, and regional levels to create the conditions necessary for a cost-competitive clean energy value chain. Second, it will coordinate across the entire value chain-from energy production and infrastructure to industrial demand and finance-to identify and resolve practical bottlenecks.

White paper to bridge the gap between ambition and deployment

To coincide with its launch, ERA has released a white paper that diagnoses regulatory bottlenecks, stress-tests existing policy frameworks against industrial realities, and details the financial and infrastructure barriers holding back Europe’s clean hydrogen market, alongside concrete policy recommendations to bridge the gap between ambition and deployment.

The white paper highlights that despite a large pipeline of projects across the clean hydrogen value chain, fewer than 7% have reached a Final Investment Decision (FID). The paper identifies the reasons why Europe’s clean hydrogen deployment is falling behind ambition, namely the fragmented implementation of EU regulation, complex Renewable Fuels of Non-Biological Origin (RFNBO) rules, high electricity costs, insufficient demand certainty, and uncertainty around infrastructure development. It calls on European institutions and Member States to take urgent, coordinated action across four pillars:

1. Demand must drive clean hydrogen ambition: Create stable, bankable demand for clean hydrogen through immediate transposition of Renewable Energy Directive (RED III), harmonised implementation of regulations including ReFuelEU Aviation and FuelEU Maritime, and the creation of lead markets in hard-to-abate sectors including industry, transport, and defense.
   

2. Clarity and simplification of clean hydrogen support frameworks is key: Shift from regulatory rigidity to industrial pragmatism by reducing electricity costs, which currently make up 70% of hydrogen production costs, as well as redesigning EU subsidies to prioritise large-scale, industrially anchored projects, and directing scarce resources where they matter the most.
   

3. Turn private capital into clean hydrogen power: De-risk investment by safeguarding robust Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) pricing, using the resulting revenues to make clean hydrogen competitive, extending RFNBO transitional provisions to well beyond 2030 to lower ramp-up costs, and introducing state-backed portfolio guarantees.
   

4. Infrastructure as the lifeline of an integrated European energy market: Scale up funding for the European hydrogen backbone, coordinate cross-border planning to connect production and demand hubs with clear timelines, and create EU-wide risk-sharing instruments for early infrastructure investment.

The full white paper can be accessed here: http://www.eu-resilience-alliance.com/

Speaking at the press briefing ahead of the launch, Miguel Ángel López Borrego, CEO of thyssenkrupp AG & thyssenkrupp Decarbon Technologies, said: "Europe's vulnerability is structural. Its dependence on external energy, technologies, supply chains, and critical materials threatens its long-term prosperity and industrial leadership. At the same time, Europe must deliver on its climate targets. Therefore, resilience has become a political and economic imperative requiring action. As the European Resilience Alliance, we are taking the lead, shouldering responsibility, and working together to strengthen Europe’s energy resilience and industrial competitiveness while accelerating decarbonisation."

Maarten Wetselaar, CEO, Moeve, commented: “A European energy system supported by clean hydrogen offers long-term price certainty, energy independence, and an industrial future that is no longer tied to volatile oil and gas cycles. At a time of growing geopolitical instability and intensifying energy shocks, clean hydrogen can enable Europe to decarbonise its hardest-to-abate sectors, strengthen its domestic energy system, secure long-term global competitiveness and put it on the path to Net Zero."

Olli Sipilä, CEO, Gasgrid Finland, highlighted: “Strengthening Europe’s industrial and societal resilience must begin immediately. Volatile imported fossil fuels cannot form the backbone of our industrial competitiveness in the decades ahead. Green, clean European energy represents a major opportunity. We have the resources — now we must make them available. New energy infrastructure is essential to enable this transformation. A hydrogen backbone infrastructure is the true game changer, lowering costs and unlocking investment opportunities at scale.”

About the European Resilience Alliance

The European Resilience Alliance is a CEO-led cross‑value‑chain coalition of leading industrial companies from across Europe working to strengthen Europe’s energy resilience and industrial competitiveness while accelerating decarbonisation. 

The full list of CEOs participating in the European Resilience Alliance includes:

• Arturo Gonzalo Aizpiri, CEO, Enagás

• Pascal De Buck, CEO, Fluxys

• Markus Rauramo, CEO, Fortum

• Olli Sipilä, CEO, Gasgrid Finland

• Jorgo Chatzimarkakis, CEO, Hydrogen Europe

• Maarten Wetselaar, CEO, Moeve

• Hans Kreisel, CEO, Nordion Energi

• Thomas Huewener, CEO, OGE

• Nikolaus Valerius, CEO, RWE Generation

• Egbert Laege, CEO, SEFE

• Niklas Wass, CEO, Stegra Boden

• Miguel Ángel López Borrego, CEO, thyssenkrupp & thyssenkrupp Decarbon Technologies

• Marie Jaroni, CEO, thyssenkrupp Steel

• Nadja Håkansson, COO, thyssenkrupp Decarbon Technologies & CEO, thyssenkrupp Uhde

For questions, please contact:

ResilienceAlliancePMO@thyssenkrupp.com

• 100th anniversary of the death of August Thyssen, an entrepreneur who made steel the heart of the Ruhr region's identity and economy.

• August Thyssen, the pioneering architect of an integrated value chain – with an impact that endures to this day.

• thyssenkrupp Steel, today Germany's largest steel concern, is built on the entrepreneurial legacy of August Thyssen.

His eyes "sparkle with intellect and keen perception" and everything he says is "extraordinarily interesting" – that was how French journalist Jules Huret portrayed the industrialist August Thyssen in 1906. This ambitious, hardworking, and yet modest patriarch, who shaped the Ruhr region like few others, died on April 4, 1926, at the age of 83, at Landsberg Castle in the city of Ratingen. This year marks the 100th anniversary of his death.

August Thyssen is one of the key figures in German industrialization. With his keen sense for broad industrial contexts, he built a company that had a significant impact on the economic development of the Ruhr region. He was ahead of his time in many ways – including politically: Huret reported his desire for "friendly relations" between Germany and France, an idea that took shape decades later in the form of the European Coal and Steel Community.

8,000 thalers as seed capital – and a vision for the industrial Ruhr region

August Thyssen was born on May 1, 1842, in the industrial and mining town of Eschweiler. From his father, a steel wire manufacturer and banker, he received 8,000 thalers in seed capital – money he channeled with remarkable single-mindedness into building a business of his own. After his first entrepreneurial steps, he founded Thyssen & Co., an iron strip rolling mill in Mülheim an der Ruhr in 1871, laying the cornerstone for what would become one of the world's largest coal, iron and steel conglomerates.

Thyssen understood early on that industrial strength comes not from individual plants alone, but from controlling every stage of the value chain. Step by step, he integrated processing, machine building, mining, and ore supply into his enterprise.

In 1891, he acquired the "Gewerkschaft Deutscher Kaiser" anthracite mine and expanded it to an integrated iron and steelmaking plant – a milestone on the path to a vertically organized industrial conglomerate. This strategy made the company more independent, more efficient, and less vulnerable to economic fluctuations. In December 1891, the first steel was smelted at the Bruckhausen steelworks – today's basic oxygen steelmaking plant 1 of thyssenkrupp Steel.

Steel as key industry – and Thyssen as driver of its scaling

While other industrialists – Krupp among them – placed greater emphasis on research and specialized technologies, August Thyssen pursued a consistent strategy of scale and vertical integration: large capacities, broad markets, reliable logistics and cost-efficient production. In doing so, he played a decisive role in making steel the key industry of the Ruhr region and a driving force behind the development of the economy. His plants in Hamborn and Bruckhausen quickly ranked among the leading steel-producing sites in Europe.

Logistics as the key to success

Thyssen recognized early on how vital efficient transport routes were for a steel corporation. The location of his plants on the Rhine, proprietary transport capacities, and a tightly integrated network of railways and waterways created what was at the time a cutting-edge industrial infrastructure – a precursor to the logistical backbone that distinguishes thyssenkrupp Steel to this day.

An entrepreneur with a sense of responsibility

Despite his business acumen, August Thyssen was a man with a strong sense of responsibility for the region. Among other things, his foundation financed the Franziskushaus orphanage in Mülheim, the construction of the Marienkirche church in Styrum, and the old city baths on the Ruhr river. August Thyssen had little time for his family — he lived for his work. He was regarded as a modest and frugal man who made little fuss about himself. Reflecting on his life in later years, the industrialist remarked, "I do believe I can say, however, without being presumptuous, that the public has benefited more from my life's work than I have myself." He was not exaggerating: thyssenkrupp Steel Europe is today the Germany's largest steel producer and remains, then as now, one of the Ruhr region's most important employers – a legacy that springs directly from the entrepreneurial foresight of August Thyssen.

References:
Jules Huret and Dirk Hallenberger: Das Revier um 1900. Zu Besuch in der "reichsten Gegend von ganz Deutschland" (The Ruhr Valley around 1900: A visit to the "richest region in all of Germany"). Publisher by Verlag Henselowsky & Boschmann.

• Closing marks next step in the strategic development of thyssenkrupp Automotive Technology

• New ownership structure creates long-term perspective for Automation Engineering

thyssenkrupp Automotive Technology has successfully closed the sale of its Automation Engineering business unit to Agile Robots SE, Munich, following the agreement reached in November 2025.

The transaction marks another important milestone in the segment’s strategic development. thyssenkrupp Automotive Technology is consistently aligning its portfolio toward high-growth, capital market–ready businesses while at the same time creating a sustainable long-term perspective for Automation Engineering under new ownership.

Automation Engineering is now part of the Agile Robots Group and will operate under the name “Krause Automation” as an independent system provider for industrial automation solutions. The combination of engineering expertise in special-purpose machinery and technological strength in robotics and artificial intelligence opens up additional growth opportunities in both existing and new markets.

Dr. Volkmar Dinstuhl, CEO of thyssenkrupp Automotive Technology: “With the successful completion of this transaction, we have taken another important step in executing our strategy. Automation Engineering is now well positioned to further develop under a strong industrial owner. At the same time, we continue to sharpen our portfolio with a clear focus on growth and capital market readiness.”

The sale of Automation Engineering is part of the repositioning of thyssenkrupp Automotive Technology initiated in 2025. Going forward, the segment will focus on its four core areas: Chassis, Components, Aftermarket, and Forging. The objective is to drive profitable growth and further enhance capital market readiness through a clear portfolio focus, technological strength, and increased customer proximity.

• A necessary response to the unchecked rise in low-cost imports

• Immediate trade defence measures are urgently required

• Grain-oriented electrical steel: a strategically important and indispensable base material for power grids and the energy transition

• 1,200 jobs at risk in Germany and France

The import crisis in the market for grain-oriented electrical steel is continuing to worsen. thyssenkrupp Steel is responding with further production cuts. Following the temporary shutdown of production at the Gelsenkirchen and Isbergues sites by the subsidiary thyssenkrupp Electrical Steel at the turn of the year, and with production in Isbergues running at just 50 per cent of total capacity since January, the site will now be completely closed from June to September. The measure is a further necessary response to an increasingly dramatic import situation. Regardless of the planned production shutdown, the supply to Electrical Steel’s customers is guaranteed at all times.

Angelo di Martino, CEO of thyssenkrupp Electrical Steel: “In view of the ruinous flood of im-ports in the market for grain-oriented electrical steel, we see no alternative but to temporarily shut down our French site once again. This measure is necessary to stabilise our company amid further deterioration in order intake. We are faced with import prices that in some cases lie well below production costs in the EU. We therefore urgently need appropriate trade protection to establish fair competitive conditions for this strategically important product. This also concerns around 1,200 skilled jobs, which we aim to safeguard at our sites in Gelsenkirchen and Isbergues. We are engaged in intensive and constructive dialogue with the European Commission and hope for the prompt introduction of effective safeguards. Currently, there is no effective protection. At the same time, we are doing everything within our control to strengthen our competitiveness.”

The European market for grain-oriented electrical steel is currently under severe pressure. This is due to unchecked increases in import volumes at prices that are significantly below average production costs in the EU. Imports have tripled since 2022 and rose by a further 50 per cent in 2025; they are now estimated to account for over 50 per cent of the European market volume. These developments have led to a dramatic reduction in order volumes and, consequently, to significant underutilisation of European production facilities. Nevertheless, the market for grain-oriented electrical steel remains attractive: according to market studies, global demand is set to triple by 2050.

thyssenkrupp Electrical Steel is one of Europe's two remaining producers of grain-oriented electrical steel, a specialized material for applications in the energy industry. The material is used, for example, in transformers for substations and wind turbines. In short, it is essential for transmitting electricity from the power plants where it is generated all the way to the household outlet. Without high-performance electrical steel strip, this process simply cannot take place – the material is irreplaceable. To ensure that power transport is as efficient and low-loss as possible, special grades – referred to as top grades – are required. These grades are produced through a technologically advanced manufacturing process. thyssenkrupp Electrical Steel is one of the few companies worldwide capable of producing such top grades, making it a key technology partner across the entire electricity value chain. Grain-oriented electrical steel is vital to the energy transition: maintaining a strong European production base strengthens the resilience and security of the region's energy supply and is therefore essential to Europe's strategic autonomy.

• Body-in-white specialist thyssenkrupp Automotive Body Solutions strengthens its strategic focus on intelligent manufacturing with collaborative and smart robotics solutions

• IPAI membership provides access to AI technologies and research approaches, exchange with partner institutions, and learning and development opportunities for employees

• Falk Nüßle, CEO thyssenkrupp Automotive Body Solutions: “Joining IPAI marks a key milestone in our strategic transformation from plant engineering and series production to the integration and operation of smart manufacturing solutions – for body-in-white and beyond.”

Heilbronn, Germany – thyssenkrupp Automotive Body Solutions GmbH has joined the applied AI innovation platform Innovation Park Artificial Intelligence (IPAI) as a member. By taking this step, the company underscores its ambition to evolve into a platform for collaborative intelligent robotics.

“By joining IPAI, we are combining our industrial DNA with Europe’s most ambitious AI ecosystem. Our objective is clear: artificial intelligence must become an integral part of manufacturing. We envision factories that perceive, learn and continuously improve – enabling the next era of intelligent production for our customers,” said Falk Nüßle, CEO of thyssenkrupp Automotive Body Solutions.

Membership includes early access to emerging AI technologies and research initiatives, close collaboration with leading partners from industry, technology and academia, access to facilities such as real-world laboratories, and tailored learning and development opportunities for thyssenkrupp Automotive Body Solutions employees.

As a global specialist in integrated body-in-white solutions, thyssenkrupp Automotive Body Solutions combines more than 125 years of technology expertise in plant engineering with series production of body components. Building on its business model – spanning plant, tool and prototype engineering combined with series production of complex body components – the company is actively shaping the era of intelligent manufacturing.

As part of its “reboot” strategy, the company is positioning itself as a partner for intelligent manufacturing with collaborative robotics, expanding its market presence in the United States and Southeast Asia, and unlocking new customer segments beyond the automotive industry.“We are transforming from a plant engineering and series production specialist into an integrator and operator of smart manufacturing solutions – for body-in-white and beyond,” Nüßle added.

Today, thyssenkrupp Automotive Body Solutions already deploys self-learning AI-based image processing systems that automatically detect inline surface defects on body components. In parallel, AI-based acoustic process monitoring is being piloted to identify quality deviations in welding operations in real time.

About thyssenkrupp Automotive Body Solutions
thyssenkrupp Automotive Body Solutions GmbH is an integrated body-in-white specialist. Its product and service portfolio ranges from prototype, tool and plant engineering to the series production of body components. The company operates six development and production sites in Germany and six additional locations internationally. With more than 125 years of technology expertise and currently around 2,000 employees worldwide, thyssenkrupp Automotive Body Solutions shapes intelligent and highly automated manufacturing within the automotive industry and beyond. The business unit is part of the Automotive Technology segment of thyssenkrupp AG. In fiscal year 2024/25, the segment generated sales of €7.0 billion.

About IPAI
IPAI empowers organizations in their AI transformation – collaboratively, hands-on and holistically. Its vision is to establish an application-driven AI innovation and collaboration platform built on European values. Together with its members and partners from business, politics and society, IPAI is creating the “Global Home of Human AI” in Heilbronn – a central hub for the future of European AI. As a one-stop shop, IPAI bridges the gap between cutting-edge research and practical implementation by building an open ecosystem with a broad range of continuously evolving offerings tailored to the needs of companies and institutions for the joint development of innovative and responsible AI solutions. At the heart of this vision is the IPAI Campus. On a 30-hectare site in northern Heilbronn, IPAI is establishing the infrastructure for a distinctly European path in AI. Construction of the campus – designed to accommodate up to 5,000 people working in the field of AI – began at the end of 2025. The first buildings are scheduled for completion and occupancy by the end of 2027. The initiators of the IPAI platform include the state of Baden-Württemberg, the Dieter Schwarz Foundation, companies of the Schwarz Group, and the City of Heilbronn.

• bluemint® recycled offers identical properties to conventional steel and meets the highest quality and safety requirements without any adaptations in production

The supply of bluemint® recycled CO₂-reduced steel to the BMW Group will start in 2026. Central application areas – the outer panels, interior parts, and the battery housing – in the BMW iX3 will in future be made of bluemint® Steel from thyssenkrupp Steel. The material has a high proportion of recycled material and achieves CO₂ savings verified by TÜV Süd compared to conventional steel. bluemint® recycled is a mass‑balanced recycled product. A mathematical allocation procedure ensures that CO₂ reductions from the production process can be attributed to products on a pro rata basis. The BMW Group will use bluemint® recycled in series production without having to adapt existing processes.

CO₂-reduced steel for outer panel components with the highest surface requirements

The automotive industry uses almost exclusively primary steel, which is extracted from iron ore, for the outer body shell – especially for what are called the O5 components with particularly high surface quality. Due to its high degree of purity and low exposure to undesirable accompanying elements, it also meets the highest requirements in terms of surface quality, formability, and processing. With bluemint® recycled, a CO₂-reduced steel product is now available that meets these quality requirements and can be used in the demanding series production of outer panels. The material is produced using the classic blast furnace route, in which part of the iron ore is replaced by a specially processed scrap product. This reduces the use of coking coal and significantly cuts CO₂ emissions depending on the grade and processing – without compromising formability or surface quality.

CO₂-reduced steel: additional use in the battery housing

bluemint® recycled is also used for the battery housing in the BMW iX3. In this application in particular, the components benefit from the typical properties of steel, which are of key importance for safety and functionality in electric vehicles. Steel can withstand high temperatures, is non-combustible and forms a robust barrier in critical load cases – a decisive advantage for fire protection. In addition, unlike lightweight metals, steel offers superior electromagnetic shielding. This stabilizes system performance and reduces the design effort required for additional shielding measures.

Georgios Giovanakis, Chief Sales Officer at thyssenkrupp Steel, explains: "With bluemint® recycled, the BMW Group has access to a CO₂-reduced steel product that meets the highest quality requirements and can be used directly in series production. The fact that bluemint® Steel is used for both outer panel components and battery housings shows the great potential of CO₂-reduced steel. Electromobility and climate‑friendly steel together make an important contribution to reducing industrial emissions."

Contribution to sustainable mobility

The combination of electric mobility and CO₂-reduced steel shows how technological innovations along the value chain contribute to the same goal: measurable climate change mitigation effects on an industrial scale. The use of bluemint® recycled in the outer panel and battery components of the BMW iX3 illustrates the potential of using CO₂-reduced materials under series production conditions, while at the same time reliably meeting the requirements of modern vehicle architectures. Moreover, the use of scrap in bluemint® recycled enables a higher recycling rate in the vehicle – another important building block for sustainable production that husbands resources.

Transformation of steel production as the key to carbon neutrality

bluemint® recycled is part of thyssenkrupp Steel's transformation pathway toward carbon-neutral steel production. The planned operation of a hydrogen-capable direct reduction plant will gradually replace the previous coal-based steel production process. The plant will produce up to 2.5 million metric tons of direct reduced iron (DRI) per year, enabling a CO₂ reduction of up to 3.5 million metric tons per year. By 2045 at the latest, it is planned for all production to be changed over to climate-neutral bluemint® steel.

• Order intake in the 1st quarter of 2025/2026 at €7.7 billion (prior year: €12.5 billion); decline as expected attributable to major orders at Marine Systems (TKMS) in the prior-year quarter

• Sales of €7.2 billion down 8 percent due to price and demand factors (prior year: €7.8 billion)

• Adjusted EBIT up 10 percent to €211 million; APEX performance program delivers positive earnings effects

• Group forecast for current fiscal year confirmed for all key performance indicators

• Transformation making progress: TKMS successfully positioned on stock exchange, collective restructuring agreement concluded at Steel Europe and term sheet of future of HKM agreed with Salzgitter, sale of Automation Engineering to Agile Robots agreed

• CEO Miguel López: “The 1st quarter of 2025/2026 has shown again: Step by step we are strengthening our competitiveness while driving the Group’s transformation with determination.”

In a persistently challenging market environment, thyssenkrupp made a strong start into fiscal year 2025/2026. At the same time, the group continued to drive its transformation under the ACES 2030 strategy program. Order intake in the 1st quarter (October to December) amounted to €7.7 billion, down €4.8 billion on the prior-year period, in which two larger new construction contracts had been recorded at Marine Systems. Sales decreased by 8 percent to €7.2 billion as a result of demand fluctuations and price effects. Driven, among other factors, by positive contributions from the APEX performance program, thyssenkrupp’s adjusted EBIT rose by 10 percent to €211 million. The group confirmed its forecast for the current fiscal year on this basis and continues to expect adjusted EBIT in a range between €500 million and €900 million.

Miguel López, CEO of thyssenkrupp CEO: “The 1st quarter of 2025/2026 has shown again: Step by step we are strengthening our competitiveness while driving the group’s transformation with determination. Despite market-related declines in sales, adjusted EBIT increased – a clear sign of progress in efficiency, costs, and structure. We will continue to focus on our ACES 2030 future model. Following the successful IPO of TKMS and subsequently the conclusion of the collective restructuring agreement and the results of negotiations with Salzgitter about the future of HKM, we now have a sustainable basis for working purposefully to address the structural challenges faced by the steel business and to successfully implement the Steel Executive Board’s industrial future concept. At the same time, we are investing in the efficiency of the other segments to prepare them for the capital market and initiate further steps in establishing stand-alone solutions.”

Key indicators of the thyssenkrupp group in the 1st quarter of 2025/2026

Order intake amounted to €7.7 billion (prior year: €12.5 billion). The decrease is mainly due to comprehensive major orders at Marine Systems in the prior year – four submarines of the German-Norwegian 212CD program and the award of the contract for the Polarstern II ice-breaking research vessel. Order intake at Automotive Technology, Materials Services, and Steel Europe were down slightly. The reasons for the lower order intake at Decarbon Technologies were the overall sluggish market performance and the deferral of projects by customers.

At €7.2 billion, group sales were below the prior-year level of €7.8 billion, reflecting the persistently weak market environment. At Automotive Technology, sales were slightly down on the prior year because of declines in automotive plant engineering and negative currency translation effects. Declines in sales were driven by lower demand at Materials Services and Steel Europe and, additionally, by a lower price level at Steel Europe. Sales fell at Decarbon Technologies, mainly due to declines in the water electrolysis business at thyssenkrupp nucera and in the new construction business of chemical plant engineering. Sales at Marine Systems tracked the progress of projects in the ongoing programs and were, as expected, slightly down on the prior-year level. There were positive effects in the surface vessel new construction and marine electronics businesses.

Adjusted EBIT improved by €20 million from the prior year, to €211 million, boosted by measures under the APEX performance program. In particular, Automotive Technology and Materials Services saw positive effects from the efficiency and restructuring measures initiated. Despite lower sales revenues and shipments, Steel Europe posted a significant increase in earnings compared with the prior year due, among other factors, to decreasing raw material costs and efficiency measures. Decarbon Technologies posted negative earnings. Although the APEX measures also propped up earnings here, they were unable to offset the negative sales effects and higher additional project-related expenses in cement plant engineering. The adjusted EBIT of Marine Systems was slightly down on the prior year and thus in line with the sales trend.

Overall, thyssenkrupp posted a net loss of €(334) million in the 1st quarter of 2025/2026 (prior year: €(33) million). The negative figure is mainly attributable to the restructuring expenses for the Steel Europe segment (€(401) million). In addition, impairment losses in connection with the planned sale of the core business of Automation Engineering (€(30) million) had a negative effect on earnings. Net income after deducting minority interest was €(353) million (prior year: €(51) million); earnings per share came to €(0.57) (prior year: €(0.08)).

The net loss caused equity to drop to €10.3 billion as of December 31, 2025 (September 30, 2025: €10.6 billion). The equity ratio remained at a comfortable value of 37 percent.

At €(1.5) billion, free cash flow before M&A was significantly below the prior-year level (€(21) million). Principal reasons were the absence of the advance payment of €1 billion received in the prior year for the extension of the 212CD submarine order at Marine Systems as well as the sharp increase in funds tied up in net working capital in the 1st quarter.

As of December 31, 2025, net financial assets were €3.2 billion (September 30, 2025: €4.9 billion). Available liquidity (cash and cash equivalents and undrawn committed credit lines) stood at €5.1 billion.

Group forecast for fiscal year 2025/2026 confirmed

Notwithstanding the persistently challenging market environment, thyssenkrupp confirms the group forecast for fiscal year 2025/2026.

thyssenkrupp expects a figure between €500 million and €900 million for adjusted EBIT. The group anticipates that free cash flow before M&A will be between €(600) million and €(300) million. This includes cash outflows for restructuring, primarily at Automotive Technology and Steel Europe. A figure of between €(800) million and €(400) million is forecast for net income. In particular, it includes the establishment of restructuring provisions at Steel Europe.

Dr. Axel Hamann, CFO of thyssenkrupp AG: “2025/2026 will be a year of implementing thyssenkrupp AG’s transformation into a financial holding company. This is reflected especially in our confirmed forecast for free cash flow and net income. On the basis of our robust balance sheet, we will systematically implement all the necessary measures. In this way, we will create the foundation for further improvements in earnings in the future and enable the next steps in implementing the transformation.”

Strategic performance in the 1st quarter of 2025/2026

thyssenkrupp is systematically pressing ahead with transforming the group as planned. The core component is the ACES 2030 future model and the associated reorganization of thyssenkrupp AG into a financial holding company, which will combine majority investments in strong, independent companies under one roof. Important progress was made in the implementation of ACES 2030 in recent months.

Automotive Technology, which is in a persistently difficult market environment, has largely completed the global efficiency program launched in March 2025 to save costs; most of the planned savings – in particular from personnel measures – have been realized. At the same time, the segment is selectively realigning its portfolio and driving further adjustments to achieve profitable growth and capital market readiness. In this context, the sale of the core business of the Automation Engineering business unit to the technology company Agile Robots SE was initiated in November 2025. Closing of the transaction is subject to the customary regulatory approvals and is expected in the months ahead.

In Decarbon Technologies, the focus continues to be on efficiency, scalability and future viability. Uhde, together with Uniper, is developing an industrial ammonia cracker that will make it possible to import and use green hydrogen on a large scale. Rothe Erde has implemented a modern floating offshore project for wind energy together with partners. Polysius is supplying the key technology for the virtually full CO₂ capture for large-scale cement projects, and thyssenkrupp nucera has acquired key technologies from the Danish company Green Hydrogen Systems, thus adding high-pressure electrolysis to its portfolio.

Materials Services is continuing to evolve from a traditional materials supplier to a modern supply chain service provider. The opening of a new site in New Mexico, USA, has boosted processing and distribution capacity, especially for the creation of data centers. In addition, forward sensing marks the launch of another pilot for a new digital solution to optimize supply chains. By entering into a supply contract with the Swedish company Stegra, Materials Services has secured access to significant volumes of non-prime steel for its own steel service centers. In addition, Materials Services made investments in equipment to supply technical gases to foundries. 

Steel Europe is continuing the consistent implementation of its strategic realignment. The conclusion of the Steel Realignment collective restructuring agreement in December 2025 as well as agreement on a term sheet with Salzgitter AG in February 2026 relating to the continuation of HKM mean that two key milestones have been reached. It is planned that thyssenkrupp Steel Europe will sell the shares in HKM to Salzgitter AG as of June 1, 2026. Together these steps form the basis for the gradual implementation of the industrial future concept of Steel Europe. Despite the challenging economic environment and regulatory uncertainty, construction of the direct reduction plant in Duisburg is progressing further. thyssenkrupp AG has, moreover, begun confidential negotiations with Jindal Steel International about the potential sale of thyssenkrupp Steel Europe – with the ongoing comprehensive due diligence at the center.

TKMS (Marine Systems segment) has been an independent company listed on the stock exchange since October 20, 2025 and has positioned itself successfully on the stock exchange. thyssenkrupp AG is the strategic majority shareholder with an interest of 51 percent, thus guaranteeing stability. TKMS has been listed in the MDAX, Germany’s second most important stock index, since December 22, 2025. With a record order backlog of €18.7 billion as of December 31, 2025, the company is ideally positioned. This figure also includes the largest torpedo order in the group’s history for the Germany Navy, which was signed in the 1st quarter of 2025/2026. At the end of January, the company also won another significant order in Norway for two additional 212CD class submarines.

• Bavarian Minister President Dr. Markus Söder attends opening ceremony

• Mid-double-digit million euro investment and around 250 new jobs

• Axle assembly for new BMW vehicle generations in close proximity to the Munich plant

thyssenkrupp’s Automotive division today celebrated the opening of a new plant in Allershausen, marking another milestone in the expansion of its production and logistics network in Germany. Located just north of Munich, the site is dedicated to assembling front and rear axles for new BMW vehicle generations. Among the guests at the opening ceremony was Bavarian Minister President Dr. Markus Söder.

Dr. Markus Söder, Bavarian Prime Minister: "Bavaria is car country – and that's how it should stay. So it was a great pleasure to attend the opening of thyssenkrupp Automotive Technology's new axle assembly plant in Allershausen near Munich together with Minister of State Florian Herrmann. The investment, which will create around 250 new jobs, sends a strong signal for Bavaria as a business location – especially given the difficult conditions facing the automotive industry. Success requires innovation and dynamism. thyssenkrupp has found the perfect environment with its partner BMW. Bavaria stands for high-tech and technology: we are number one in start-ups and top universities, home to international tech companies, and have flagship projects such as the Moon Control Center. With the Bavarian High-Tech Agenda, we are investing seven billion euros in future technologies. Engineering and digitalization are our strengths. As the state government, we will continue to focus on the car in the future: we stand for openness to technology and are massively expanding e-mobility and charging infrastructure. However, the end of the combustion engine also needs to be phased out at EU level. All the best and congratulations on your 30th anniversary!"

Dr. Volkmar Dinstuhl, CEO of thyssenkrupp Automotive Technology, said: “A strong supplier industry is essential for a competitive automotive sector in Europe. Resilient supply chains, industrial expertise, and proximity to vehicle production are becoming increasingly important in light of global uncertainties. Especially in today’s challenging market environment, our investment in Allershausen sends a clear signal – for industrial strength, reliability, and a sustainable manufacturing future in Germany and Europe.”

With a total area of around 19,000 square meters for logistics and production, the plant is designed for efficient, highly automated axle assembly. thyssenkrupp has invested a mid-double-digit million euro amount in equipment and facilities. Around 250 new technical and production roles are being created, complemented by apprenticeships for future skilled workers.

Series production is scheduled to start this summer. Operating in two shifts, the plant will assemble up to 55 axles per hour – roughly one per minute. Assembly and delivery follow just-in-time and just-in-sequence principles, ensuring precise synchronization with BMW’s vehicle production in Munich.

The new site is operated by thyssenkrupp Automotive Systems GmbH, the group’s specialist for axle assembly and logistics within the Automotive Technology segment. The opening coincides with the 30th anniversary of the business unit.

Dr. Dominik Gläßer, Managing Director of thyssenkrupp Automotive Systems, added: “With the new Allershausen plant, we are continuing our systematic development – from our beginnings in Germany to becoming a globally positioned system partner. Bavaria and the greater Munich area are among Europe’s strongest automotive regions. By investing in Allershausen, we are strengthening local value creation while ensuring a robust, customer-oriented supply chain for BMW’s Munich plant.”

Located about 35 kilometers north of Munich and directly connected to the A9 motorway, Allershausen offers excellent transport links. The site will use electric trucks for axle logistics, and heat will be supplied via a biogas plant – supporting thyssenkrupp’s sustainability strategy.

As a global system supplier, thyssenkrupp Automotive Systems develops and operates assembly and logistics solutions for chassis and powertrain modules – in particular axle systems – delivered just-in-time and just-in-sequence to automotive manufacturers. The company’s core mission is to simplify OEM supply chains by managing module and system assembly as well as supplier and quality management across multiple global sites.

Since its beginnings in the mid-1990s, the axle assembly and logistics business has grown into an internationally established system provider with a broad customer base, including OEMs such as BMW, Porsche, Volkswagen, and Mercedes-Benz. Today, the company operates assembly and logistics facilities in several countries – including Germany, France, Mexico, and Hungary – providing integrated, customer-focused solutions for vehicle manufacturers worldwide.

• Agreement regulates the sale of shares in HKM from thyssenkrupp Steel to Salzgitter AG effective June 01, 2026

• Salzgitter AG will continue to operate HKM under its sole responsibility in a reduced scope

• Slab supply to thyssenkrupp Steel secured until 2028

Following intensive negotiations and with the mediation of the former Minister President of Hesse, Roland Koch, thyssenkrupp Steel and Salzgitter AG have reached an agreement on the continued operation of HKM. Under the plan, thyssenkrupp Steel will sell its shares in HKM to Salzgitter AG effective June 01, 2026. Supplies from HKM to thyssenkrupp Steel will terminate at the end of 2028, instead of at the end of 2032 as previously envisaged. It has been agreed that the financial details of the unbundling of the existing contractual relationships agreed in the key issues paper will not be disclosed.  

Implementation of the agreement is subject to the approval of the governing bodies of Salzgitter AG and a positive assessment of a going concern report, which Salzgitter AG has already commissioned. A further prerequisite is that the third owner, Vallourec S. A., also agrees to sell its shares to Salzgitter AG.

Gunnar Groebler, CEO Salzgitter AG: "This agreement is an important milestone and brings us a good step closer to establishing a sound industrial future for HKM. It creates clarity for everyone involved in this process, while offering HKM's workforce a positive perspective. HKM will thus become part of the process of transforming to low-CO₂ steel production in the Salzgitter Group. We would like to thank everyone involved for the constructive negotiations and their support during the process."

Marie Jaroni, CEO of thyssenkrupp Steel: "The agreement represents an important milestone for the further implementation of our industrial concept, thus setting thyssenkrupp Steel on an even keel as we move into the future. With this agreement, we have succeeded in achieving a fair and viable solution for all parties concerned. We are thus fulfilling our responsibility both toward thyssenkrupp Steel as a whole and for the workforce of HKM."

thyssenkrupp Steel is one of the leading manufacturers of flat carbon steel and stands for innovations in steel, and high-quality products for advanced and demanding applications. Steel employs around 26,000 people and is Germany's biggest flat steel producer, producing around 8.7 to 9 million metric tons of crude steel a year. Its range of services extends from customer-specific material solutions to material-related services.

As a pioneer in climate transformation, thyssenkrupp Steel has set itself the goal of reducing its CO₂ emissions by at least 30 percent as early as 2030. By 2045, steel production is planned to be completely carbon-neutral.

Salzgitter AG ranks as one of Germany’s leading steel and technology groups.
As a pioneer in the circular economy, we focus on sustainable innovation and on transforming products and processes in the business units of Steel Production, Steel Processing, Trading and Technology.

Under our "Salzgitter AG 2030" strategy and anchored in the principle of "Pioneering for Circular Solutions", we are setting new benchmarks in the industry. Our aspirations are realized through strong initiatives and programs such as SALCOS® – Salzgitter Low CO2 Steelmaking. Through partnerships and in networks, we are actively driving the process of development towards a circular economy.

With around 25,000 employees worldwide at more than 130 national and international subsidiaries and associate companies, we live up to our global aims for growth, profitability and our pioneering position. In the financial year 2024, we generated external sales of around € 10 billion, with a crude steel capacity of 6.4 million tons.

Contact:

thyssenkrupp Steel

Mark Stagge

Head of Public and Media Relations
T: +49 173 5971798
mark.stagge@thyssenkrupp-steel.com
www.thyssenkrupp-steel.com

Salzgitter AG

Olaf Reinecke

Group press spokesman
Tel. + 49 5341 215 350
reinecke.o@salzgitter-ag.de
www.salzgitter-ag.com

Around 600 shareholders took up thyssenkrupp AG’s invitation to attend the in-person Annual General Meeting held at the RuhrCongress in Bochum today, Friday, January 30, 2026. The Executive Board and Supervisory Board took stock of the past fiscal year 2024/2025 and fielded questions from shareholders and their representatives.

“The company made great progress in its strategic reorientation and with the first steps toward its implementation over the past year. This is evident in substance and also in the very encouraging share price performance,” said Prof. Dr. Siegfried Russwurm, Chairman of the Supervisory Board of thyssenkrupp AG. “There has been a tremendous amount of work behind that. I thank the Executive Board and all employees of thyssenkrupp for their dedication and commitment in the past fiscal year.”

Far-reaching developments in fiscal year 2024/2025: “Year of decisions”

At the heart of thyssenkrupp AG’s transformation is the ACES 2030 future model and the associated reorganization of thyssenkrupp AG into a financial holding company in which strong, independent companies operate under one roof. The first major steps toward implementing ACES 2030 have already been taken. In particular, the company embarked on a new course for the steel business: The industrial future concept and signing of the collective restructuring agreement with the IG Metall trade union established the initial basis for steering thyssenkrupp Steel Europe back to firm ground.

The progress made at TKMS as part of the group’s transformation is also exemplary: The marine business was successfully floated on the stock market in the fall of 2025. The company is now listed on the MDAX. The price of the TKMS share is currently almost 20 percent higher than the initial price following its listing.

Annual General Meeting signals continuity in challenging times

The Annual General Meeting voted by a large majority to ratify the acts of both the members of the Supervisory Board and the members of the Executive Board for the 2024/2025 fiscal year.

As the term of office of seven members of the Supervisory Board of thyssenkrupp AG expired at the end of the Annual General Meeting, the shareholder representatives on the Supervisory Board had to be newly elected today. The Annual General Meeting endorsed the Supervisory Board’s proposal and elected the existing members Birgit A. Behrendt, Dr. Patrick Berard, Dr. Wolfgang Colberg, Angelika Gifford, Dr. Bernhard Günther, Dr. Ingo Luge and Prof. Dr. Siegfried Russwurm to the Supervisory Board of thyssenkrupp AG for a further three years. Prof. Russwurm was also re-elected as Chairman of the Supervisory Board by the Supervisory Board at its inaugural meeting.

Last but not least, the Annual General Meeting endorsed the proposal by the Executive Board and Supervisory Board to pay shareholders a dividend of €0.15 per share for the 2024/2025 fiscal year.

CEO: Fiscal year 2025/2026 a “year of implementation”

“An important year of decisions lies behind us and a challenging year of implementation has begun. We took key decisions that, for the first time in many years, give the company genuine prospects for the future,” said Miguel López, CEO of thyssenkrupp AG. “All the actions are aimed at strengthening thyssenkrupp in the long term. We are keeping up the pace, delivering results and creating the basis for sustainable success.”

The voting results for the individual agenda items and resolutions at this year’s Annual General Meeting can be found on the company’s website after the event: Annual General Meeting 2026

At its meeting on January 29, 2026, the Supervisory Board of thyssenkrupp AG extended the Executive Board contracts of Ilse Henne and Dr. Volkmar Dinstuhl for another five years until December 31, 2031.

Ilse Henne (born 1972) has been a member of the Executive Board of thyssenkrupp AG since January 2024 and is responsible for the Materials Services segment as well as the corporate functions sustainability, cyber defence center and IT strategy & governance.

Dr. Volkmar Dinstuhl (born 1972) has also been a member of the Executive Board of thyssenkrupp AG since January 2024. He is responsible for the Automotive Technology and Marine Systems segments as well as mergers & acquisitions and participations.

Prof. Dr. Siegfried Russwurm, chairman of the Supervisory Board of thyssenkrupp AG: “With the extension of the appointments of Ilse Henne and Dr. Volkmar Dinstuhl to the Executive Board of thyssenkrupp AG, we are ensuring continuity at an early stage in challenging times. I am very pleased that with Mrs. Henne and Mr. Dinstuhl, we have two competent personalities on the Executive Board who know thyssenkrupp from a wide variety of roles in the company for many years and who help shaping it with passion, perseverance and strategic clarity. We are confident that through their parallel roles as CEO of Materials Services and Automotive Technology, together with the other Executive Board members, they will lead the independence of the segments and the running transformation of thyssenkrupp into a financial holding company to success with determination and team spirit.”

Miguel López, CEO of thyssenkrupp AG: “The contract extension of Ilse Henne and Dr. Volkmar Dinstuhl sends a strong signal for stability within the Executive Board of thyssenkrupp AG. Their expertise significantly shapes the course of the group’s transformation. Strengthening our segments and the operational management of the group, with a focus on performance and portfolio, are key elements of our agenda. I greatly appreciate the trusting and professional collaboration with Ilse Henne and Volkmar Dinstuhl. Together, we can unlock the growth potential arising from the reorganization of thyssenkrupp AG – together as a leadership team and with all employees at thyssenkrupp. I am very much looking forward to continuing our work together.”

Both appointments as members of the Executive Board of thyssenkrupp AG are for five years, after the previous appointments of Ilse Henne und Dr. Volkmar Dinstuhl were made for an initial period of three years in the Supervisory Board meeting of November 29, 2023, in accordance with the German Corporate Governance Code.

NOTE:
Portrait photos and resumes of the Executive Board members of thyssenkrupp AG: Management

• Top marks: thyssenkrupp impresses with transparent carbon footprint and ambitious targets in line with the Paris Climate Agreement

• Decarbonization through the use of cutting-edge technologies at our customers and in our own processes: Industrial group actively driving transformation to sustainable industry

For the tenth time in a row, the world’s leading non-profit environmental organization CDP has awarded thyssenkrupp top marks in its prestigious climate ranking, recognizing the Essen-based industrial and technology group’s climate protection and transparent approach to disclosing its own carbon emissions. With this result, thyssenkrupp has once again secured a place on the annual Climate A List, making it one of only 877 companies internationally with this distinction, including 34 companies from Germany.

The CDP serves as an important basis for investors and companies when making decisions to promote a sustainable and future-oriented economy. Last year alone, CDP collected data on environmental impacts, risks and opportunities on behalf of 640 investors with 127 trillion US dollars in assets. Alongside thyssenkrupp, more than 22,000 companies disclosed their environmental data via CDP in 2025.

Miguel López, CEO of thyssenkrupp AG and CEO of the Decarbon Technologies segment: “The renewed distinction in the CDP rating is both confirmation and an incentive for us: thyssenkrupp stands for transparency and systematic climate and emissions management with measurable progress. For us, climate protection is part of our business model: We combine ambitious targets with verifiable measures – responsibly, based on data and along the entire value chain. For our customers and our locations worldwide.”

Ilse Henne, member of the Executive Board of thyssenkrupp AG and responsible for sustainability: “We assume responsibility for the environment and the climate. We pursue this goal reliably, systematically and swiftly by reducing emissions and documenting progress and measures in a reliable manner. I am pleased to see that the disclosure of our carbon footprint and our systematic climate management create impact and trust – among customers, partners, and investors. The award and our place on the CDP A List are a team success. Our employees drive technologies and partnerships that reduce emissions and create resilience.”

By promoting climate-friendly solutions that reduce CO₂ in production processes, thyssenkrupp is actively contributing to the transformation toward a sustainable industry. For example, the first hydrogen-capable direct reduction plant is being built at the Duisburg steel site. It is one of the world’s largest industrial decarbonization projects.

In addition to decarbonizing its own production processes, thyssenkrupp also supports its customers on the path to climate neutrality with reliable and measurable solutions for sustainable value creation in a competitive industry. thyssenkrupp’s Decarbon Technologies segment is a globally respected industrial supplier of innovative cutting-edge technologies in the field of green transformation: Rothe Erde is a world leader in the latest generation of slewing bearings, supporting the energy transition, while thyssenkrupp nucera is one of the world’s leading suppliers of electrolysis plants for the production of hydrogen. Uhde is able to satisfy the growing demand for clean ammonia, green methanol, sustainable aviation fuel and carbon capture technologies. The company is also developing assistive technologies to reduce greenhouse gas emissions, such as ammonia cracking and biomass gasification. And Polysius is pioneering the climate-neutral conversion of the cement industry with its patented pure oxyfuel technology.

For further information: https://www.cdp.net/en/data/scores#public-corporate-scores.

• Order intake of €37.7 billion 15 percent above the prior year, driven by major orders at Marine Systems

• Sales of €32.8 billion in line with expectations, 6 percent below the prior year due to the challenging market environment

• Adjusted EBIT increased to €640 million (prior year: €567 million) despite decline in sales; APEX performance program delivers positive earnings effects

• At €363 million, free cash flow before M&A positive for the third year in succession and significantly above the prior year (€110 million)

• Dividend continuity: Distribution of €0.15 per share proposed

• Forecast for current fiscal year: Adjusted EBIT between €500 million and €900 million, free cash flow before M&A between €(600) million and €(300) million and net income between €(800) million and €(400) million expected

• CEO Miguel López: “With the presentation of our new future model, we made key decisions for the transformation of thyssenkrupp in the past fiscal year. In recent months, the first milestones were already achieved: We were extremely successful with the stock market listing of TKMS and made key progress in the realignment of the steel business by concluding the ‘Steel Realignment’ collective restructuring agreement. Following this year of decisions, we are now putting all our effort into their continuing implementation.”

In fiscal year 2024/2025 (reporting date: September 30), thyssenkrupp made key progress in a persistently difficult market environment – both in its strategic transformation and operational performance. The presentation of ACES 2030 – the new strategic future model – defined the framework for the company’s realignment. thyssenkrupp AG will become a financial holding company, while the businesses are to be transitioned to stand-alone solutions that are open to third-party investment. The first milestones have already been successfully achieved.

“With the presentation of our new future model, we made key decisions for the transformation of thyssenkrupp in the past fiscal year. In recent months, the first milestones were already achieved: We were extremely successful with the stock market listing of TKMS and made key progress in the realignment of the steel business by concluding the ‘Steel Realignment’ collective restructuring agreement.

Following this year of decisions, we are now putting all our effort into their continuing implementation. We will be using the coming years to consistently drive forward with transforming thyssenkrupp into a financial holding company with majority investments in high-performing, independent companies,” said Miguel López, CEO of thyssenkrupp AG.

As part of the Group’s comprehensive transformation, ensuring strong social protection for our employees remains a key priority. In early December, thyssenkrupp AG and IG Metall therefore agreed to extend the existing framework agreement. The shared objective is to enhance the competitiveness of the individual business units while securing jobs and locations for the long term wherever possible.

At the same time, thyssenkrupp held its ground operationally in fiscal year 2024/2025. Compared with the prior year, order intake increased by 15 percent, primarily due to major orders at Marine Systems. Although sales declined to €32.8 billion as a result of fluctuations in demand and price trends, adjusted EBIT increased by 13 percent year-on-year. This development was buoyed by positive effects from the APEX performance program. Free cash flow before M&A was positive for the third year in succession and, at €363 million, above the prior-year figure (€110 million).

“The fiscal year was again characterized by geopolitical and economic challenges. Greater market uncertainty and weaker customer demand tangibly curbed our businesses. Nevertheless, we succeeded in holding our ground thanks to systematic efficiency improvements and cost reductions,” explained CEO Miguel López.

Fiscal year 2024/2025: Key indicators for the thyssenkrupp group

Despite continuing economic challenges, the group significantly increased order intake to €37.7 billion from €32.8 billion a year earlier. Marine Systems posted considerable order growth. The main contribution to this was the addition of four submarines in a substantial extension of the order for the German-Norwegian 212CD program and the addition of two submarines to the existing order from Singapore. Customer demand in the Automotive Technology segment was still restrained and order intake was below the prior-year level. The order situation at Steel Europe and Materials Services was also impacted by further demand- and price-induced declines. The figures for the Decarbon Technologies segment were below the prior-year level overall.

The group’s sales declined against the backdrop of weaker market momentum, amounting to €32.8 billion (prior year: €35.0 billion). This was mainly attributable to weaker demand and lower prices at Materials Services and Steel Europe. Automotive Technology and Decarbon Technologies also saw declining demand trends. By contrast, Marine Systems increased sales year-on-year due to project progress in the new construction business and in the marine electronics and software businesses.

At €640 million, the group’s adjusted EBIT was €72 million above the prior-year level of €567 million. The increase resulted primarily from the significantly improved earnings at Decarbon Technologies. This was mainly due to positive one-time effects – in chemical plant engineering, for example – and lower extraordinary additional costs. Steel Europe increased earnings year-on-year, profiting from factors such as decreasing raw material costs, lower depreciation and amortization as a result of impairment losses and positive one-time effects.

Marine Systems also improved earnings slightly. Automotive Technology and Materials Services continued to operate in a challenging market environment and posted lower earnings. Positive effects from the APEX efficiency program buoyed earnings trends in all segments.

The bottom line for thyssenkrupp in the past fiscal year was net income of €532 million – an increase of around €2 billion compared with the prior-year figure of €(1,450) million. The positive figure mainly resulted from a reversal of impairment losses on the remaining investment in TK Elevator (€902 million) and from the sale of thyssenkrupp Electrical Steel India (around €320 million). It was partly offset by impairment losses of around €(790) million, restructuring expenses of around €(220) million and a tax effect of €(135) million in connection with the spin-off of the marine business. Net income after deducting minority interest was €465 million (prior year: €(1,506) million). Earnings per share came to €0.75 (prior year: €(2.42)).

Compared with a year earlier, equity increased from €10.4 billion to €10.6 billion. Contributions to this came from the remeasurement of pension obligations due to the change in interest rates, as well as from net income. It was partly offset by factors including negative currency effects. The equity ratio remained at a comfortable value of 37 percent (prior year: 35 percent).

Compared with the previous year, free cash flow before M&A rose by €253 million to €363 million. Factors in this positive development included the improved release of funds in net working capital, as well as the significantly larger contribution from Marine Systems in connection with new construction orders.

Thanks to the positive free cash flow before M&A, net financial assets on the reporting date increased to €4.9 billion (prior year: €4.4 billion). With cash and cash equivalents and undrawn committed credit lines totaling €6.8 billion, thyssenkrupp still has a very good liquidity position. Having repaid the last bond of €0.6 billion in February of this year, thyssenkrupp is largely free from bank and capital market debt.

It will be proposed to the Annual General Meeting on January 30, 2026 that a dividend of €0.15 per share be paid for fiscal year 2024/2025. In this way, thyssenkrupp continues to ensure dividend continuity.

“We achieved our financial target values that were adjusted in the 3rd quarter. In the case of free cash flow before M&A, we slightly exceeded the target and ended the third year in succession with a positive figure,” emphasized Dr. Axel Hamann, CFO of thyssenkrupp AG. “However, we must assume that the difficult market conditions will persist in the next fiscal year. That is why the determined implementation of our efficiency and cost-cutting programs in all segments is crucial for our earnings development. It is now a matter of holding this course and remaining consistent in implementing our measures.”

Forecast 2025/2026: Adjusted EBIT between €500 million and €900 million expected

The persistently challenging market environment is also shaping the outlook for the current fiscal year.

For fiscal year 2025/2026, thyssenkrupp anticipates sales development in a range between minus 2 percent and 1 percent. In particular, demand-induced growth is expected at Materials Services and Steel Europe, offset by corresponding declines at Automotive Technology and Decarbon Technologies.

thyssenkrupp expects adjusted EBIT between €500 million and €900 million. Achievement of a figure in this corridor will be supported mainly by effects from restructuring measures that have already been initiated and by further measures as part of the APEX performance program.

thyssenkrupp anticipates that free cash flow before M&A will be between €(600) million and €(300) million. It includes cash outflows of around €350 million for restructuring, primarily at Automotive Technology and Steel Europe. In addition, the payments profiles in the project businesses – mainly prepayments at Marine Systems – will have a major influence on development.

A figure of between €(800) million and €(400) million is forecast for net income. In particular, it includes the establishment of restructuring provisions at Steel Europe.

Dr. Axel Hamann, CFO of thyssenkrupp AG: “Our forecast takes account of the persistently challenging market conditions and of the efficiency and restructuring measures in our segments. Through the measures that are planned for the current year and already factored in – especially in the steel business and at Automotive Technology – we are creating the basis for sustainably improving our earnings. In the medium term, we remain committed to our financial targets. We are still seeking to achieve an adjusted EBIT margin of 4 to 6 percent at group level, a significantly positive value for free cash flow before M&A and reliable dividend payments for our shareholders.“

Strategic development of the segments

thyssenkrupp is driving forward with its ACES 2030 strategic future model. The long-term goal is the stepwise transition of all businesses to stand-alone solutions that are open to third-party investment. thyssenkrupp AG is to be transformed into a financial holding company that serves as the umbrella for majority investments in strong and independent companies. The independence of the segments is aimed at strengthening their entrepreneurial freedom and offering them new growth prospects: more decision-making powers, greater flexibility to make investment and marketing decisions and individual access to the capital market. At the same time, the new structure gives the independent companies greater responsibility and improves transparency.

Taken together, these are a significant lever for improving performance sustainably. The starting position for a stand-alone solution differs from segment to segment, depending on the market environment, business model and progress in transformation. In preparing this step, the businesses are therefore setting different accents, moving at different speeds and considering different measures. In the past months, crucial progress was achieved in each of the segments.

Automotive Technology is operating in a persistently difficult market environment and is systematically implementing the global efficiency program that was launched in March. This includes cost cutting, process optimization and the consolidation of support functions. It is planned to reduce costs by around €150 million. To achieve this, around 1,800 jobs are to be cut in the corporate functions and administrative areas. As of October 1, 2025, the segment also realigned its activities into four customer- and technology-focused business units with the goal of optimally leveraging its potential and growing profitably. In parallel, Automotive Technology is focusing on portfolio adjustments. The Automotive Body Solutions, Automation Engineering and Springs & Stabilizers business units will continue as separate businesses. In this connection, thyssenkrupp is exploring strategic options such as partnerships or new ownership models. In this context, the sale of the Automation Engineering core business to Agile Robots SE was initiated in November 2025. Closing of the transaction is subject to the customary regulatory approvals and is expected in the months ahead.

In Decarbon Technologies, the focus is on performance and future viability. Thanks to its broad technology portfolio, the segment makes a significant contribution to the sustainable transformation of energy-intensive industries. Although the market ramp-up of green technologies is advancing at a slower pace than originally anticipated, considerable potential is still seen in the medium to long term. Uhde is the global leader in planning and constructing industrial-scale ammonia plants. Together with Uniper, the company is developing an industrial ammonia cracker that will make it possible to import and use green hydrogen on a large scale. Rothe Erde is contributing to the energy transition with roller bearings for a wind farm with a direct connection to an industrial site. Polysius is delivering the key technology for Germany’s first carbon-neutral cement plant. thyssenkrupp nucera is driving forward with the expansion of green hydrogen production. With more than 600 projects and over 10 GW of installed output, the company ranks among the leading suppliers of electrolysis technologies.

Materials Services is continuing its transformation from a traditional materials supplier to a modern supply chain service provider. Contributions to this will come from expanding the supply chain business, making targeted investments in the North American service and manufacturing businesses, further developing the service center business in Germany and strengthening the digital product portfolio. In North America, for example, the capacities for precision metal processing have been expanded by taking over Cobotix Manufacturing and opening a new site in New Mexico to grow processing and distribution activities. In the USA, Materials Services now ranks among the top 20 providers in the warehousing business. The digital solutions portfolio was strengthened through the acquisition of Luxembourg-based Waves, a software provider in the area of ESG/sustainability data and reporting. The segment also increased its digital expertise and market presence by expanding the service center and integrating the technology center in India.

Steel Europe is continuing the consistent implementation of its strategic realignment. At the start of December, the Steel Executive Board and the IG Metall trade union signed the “Steel Realignment” collective restructuring agreement. This forms the basis for the stepwise implementation of the industrial future concept for Steel Europe. The declared aim is to achieve the urgently needed cost-cutting measures without any compulsory redundancies. Already at the start of April 2025, the company terminated the supply contract with Hüttenwerke Krupp Mannesmann as of December 31, 2032. This is an important step toward the necessary capacity adjustments. The annual shipment capacity is to be reduced from around 11.5 million tons at present to a target level of around 8.7 to 9 million tons. Moreover, the ramp-up of the new finishing complex in Duisburg concluded key investments of around €800 million to align the production network at the Duisburg site with future customer requirements and profitable premium products. Despite the challenging economic environment and regulatory uncertainty, construction of the direct reduction plant in Duisburg is progressing. Moreover, in mid-September 2025, a non-binding indicative offer was received from Jindal Steel International for the acquisition of thyssenkrupp Steel Europe. This is being reviewed by thyssenkrupp AG with regard to economic viability, the continuation of the green transformation and employment at the company’s steel sites. In this connection, EP Group (EPG) and thyssenkrupp AG mutually agreed to end their negotiations on a possible 50 / 50 joint venture for thyssenkrupp Steel Europe. As of September 30, 2025, EPG returned the 20-percent interest it had acquired in thyssenkrupp Steel Europe AG on July 31, 2024 and received reimbursement of the purchase price.

TKMS (Marine Systems segment) has been an independent company listed on the stock exchange since October 20, 2025. In the meantime, TKMS meets the Deutsche Börse criteria for inclusion in the MDAX and will be admitted to the second most important German index as of December 22. As Europe’s only fully integrated system supplier for maritime defense, TKMS combines its platform expertise in submarines and surface vessels with a strong market position in maritime electronics, sensors, effectors, unmanned systems, maritime guidance systems and software. With a record order backlog of €18.2 billion, the company is ideally positioned. The stock market listing provides TKMS with financial independence and creates additional agility, flexibility and new growth and innovation opportunities. At the same time, thyssenkrupp AG remains the strategic majority shareholder with an interest of 51 percent, thus strengthening stability.

• Details of reconciliation of interests and social plans agreed

• Agreement will run until September 30, 2030

• Financing of thyssenkrupp Steel secured

• Paving the way for operational implementation of the industrial concept

The negotiating partners have reached a decisive milestone in the planned realignment of thyssenkrupp Steel: Germany's largest steelmaker has reached an agreement with the trade union and company representatives on the outstanding details of the reconciliation of interests, the social plan, and other company agreements. In addition, the financing required for the restructuring period until September 30, 2030 has been secured; the parties have agreed to keep the terms confidential. thyssenkrupp Steel and IG Metall then signed the collective restructuring agreement with a term until September 30, 2030. This paves the way for the industrial concept to be implemented operationally.

Industrial concept as the basis for repositioning thyssenkrupp Steel

The industrial concept developed by the Steel Executive Board and presented in November last year forms the basis for the agreements that have now been reached. It essentially provides for a market-related reduction in production capacity to a shipping level of 8.7 to 9 million metric tons, cutting or outsourcing about 11,000 jobs, and investments including that in the direct reduction plant currently under construction at the Duisburg location.

The restructuring process will now be implemented immediately in order to raise efficiency levels and achieve more competitive cost positions as quickly as possible. Irrespective of this, thyssenkrupp Steel continues to pursue the goal of carbon-neutral steel production in the long term. Construction of the first direct reduction plant at the Duisburg location is ongoing.

Quotes

Ilse Henne, Chairwoman of the Supervisory Board of thyssenkrupp Steel: "Through our joint efforts, we have succeeded in sweeping away the last obstacles on the way to signing the agreement, and we have achieved a viable result. All sides have lived up to their responsibilities here. This is encouraging and sends out a very strong signal for Steel and for the entire region."

Marie Jaroni, CEO of thyssenkrupp Steel: "Since presenting our industrial concept, we have consistently solved the tasks facing us step by step and, by concluding the collective restructuring agreement, we have cut the Gordian knot so we can make thyssenkrupp Steel fit for the future. Our goal is very clear: over the long term, we aim to occupy a leading position in the European competitive environment. We have now created the prerequisites for this."

Wilfried von Rath, CHRO thyssenkrupp Steel: "The agreement and signing of the collective restructuring agreement represent strong signs: together, the company and employee representatives have developed a forward-looking agreement for Steel. We have also got to be open and honest about this: there will be a lot of lay-offs and we will be making some swinging cuts. But we are doing this to become more competitive and secure as many jobs as possible for the future. The collective restructuring agreement and company agreements show that we want to pursue this policy with a fair-minded approach, a sense of proportion and, above all, without compulsory redundancies."

• Strategic partnership further expanded

• License packages for up to six commercial plants with a total capacity of 7,200 mtpd of ammonia

• Joint goal: Establishment of a scalable hydrogen import infrastructure

Uniper and thyssenkrupp Uhde have signed a framework agreement that lays the foundation for the construction of commercial ammonia cracking plants. Uniper has secured license packages for the use of thyssenkrupp Uhde’s ammonia cracking technology. The agreement covers up to six large-scale plants with a total capacity of 7,200 metric tons of ammonia per day (mtpd). The use of hydrogen from ammonia on an industrial scale will make a significant contribution to the decarbonization of national and European industry. The direct transport of hydrogen is both technically and economically challenging, while ammonia is an ideal transport and storage medium. Ammonia can be liquefied relatively easily and shipped long distances in large quantities. Without high-performance cracker technology, large-volume imports of hydrogen are not feasible. This project is therefore an important step toward establishing a resilient energy infrastructure in Europe.

The agreement establishes the terms for using the technology at Uniper’s planned hydrogen import terminal in Wilhelmshaven. The license package includes engineering, services and the supply of main equipment and catalysts. Uniper is currently driving forward the pre-FEED (front-end engineering and design) for a commercial plant at its Wilhelmshaven site. This pre-FEED phase will establish the design basis for the project, define its scope in more detail, further review its technoeconomic feasibility, and reduce its uncertainties and risks. The goal is to create a solid foundation for the subsequent FEED phase. The FEED phase is scheduled to start at the end of next year.

Holger Kreetz, COO of Uniper: “Domestic production alone cannot meet future hydrogen demand – imports of hydrogen derivatives will be essential. Our agreement with thyssenkrupp Uhde marks a decisive next step toward enabling global hydrogen trading. Ammonia crackers are key to international hydrogen logistics, and together with thyssenkrupp Uhde, we are laying the foundations for the infrastructure that Europe needs for its energy future – including our planned hydrogen import terminal in Wilhelmshaven.”

Nadja Håkansson, Member of the Executive Board / COO of thyssenkrupp Decarbon Technologies
& CEO of thyssenkrupp Uhde: “Our partnership with Uniper shows how cross-industry cooperation creates real added value. With our world-leading ammonia technology and our experience in executing complex plant projects, we are making a significant contribution to decarbonization and the development of a global hydrogen market.”

Back in spring 2025, Uniper and thyssenkrupp Uhde announced the construction of one of the world’s first demonstration plants for ammonia cracking at the Uniper power plant site in Gelsenkirchen-Scholven, Germany. The plant, with a capacity of 28 metric tonnes of ammonia per day, serves as a technological foundation for the commercial scale-up that has now been agreed. Signing this framework agreement, which includes licenses for large-scale commercial plants, is the next logical step in bringing this key technology for global hydrogen trading to industrial maturity. The demonstration plant, which is funded by the Ministry of Economic Affairs, Industry, Climate Action and Energy of the State of North Rhine-Westphalia, plays a key role in ensuring energy security and facilitating the sustainable transformation of energy-intensive industries.

Should you require further information, please contact:

thyssenkrupp Uhde
Christian Dill
Spokesperson
Phone: +49 231 547 3334
christian.dill@thyssenkrupp.com

Uniper
Svenja Kaltheuner
Spokesperson
Phone: +49 1515 1500408
svenja.kaltheuner@uniper.energy

• Complementary strengths: Automation Engineering’s engineering excellence in plant construction meets Agile Robots’ expertise in robotics and software

• “Best and Fair Owner” agreement with IG Metall already concluded

• Volkmar Dinstuhl, CEO thyssenkrupp Automotive Technology: “We are creating long-term reliability for Automation Engineering while sharpening the Automotive segment’s focus on growth and capital market readiness.”

thyssenkrupp Automotive Technology has initiated the sale of its Automation Engineering business unit to Munich-based Agile Robots SE. With the signing of the agreement, the segment has taken an important step in its transformation process. Completion of the transaction is subject to customary regulatory approvals and is expected within the coming months.

Automation Engineering is recognized internationally as a specialist in customized mechanical engineering for product-specific automation solutions. With Agile Robots, thyssenkrupp has identified a strong, long-term partner with the technological capabilities, financial strength and compelling industrial concept needed to sustainably develop the business with product innovations and new industrial solutions.

Dr. Volkmar Dinstuhl, CEO of thyssenkrupp Automotive Technology, said: “The sale of Automation Engineering to Agile Robots is a logical step in the strategic repositioning of our segment. We are providing Automation Engineering with a reliable perspective while continuing to align our Automotive business toward growth and capital market capability.”

Agile Robots is a fast-growing technology company headquartered in Munich that combines robotics and artificial intelligence to create industrial solutions. Founded in 2018 out of the German Aerospace Center (DLR), the company now employs around 2,500 people. By uniting classical plant engineering with AI-based robotics, Agile Robots and Automation Engineering form a strong, complementary combination to shape next-generation industrial automation.

Both parties are joining forces to accelerate industrialization and the reliable execution of innovative solutions, while expanding into new markets beyond the automotive sector, such as intralogistics, electronics and medical technology.

Within Agile Robots SE, the new business will operate under the name “Krause Automation”, acting as a system provider offering end-to-end solutions ranging from intelligent components to turnkey plants. The new name honors the company’s long-standing heritage, which dates back to the founding of Johann A. Krause Maschinenfabrik in Bremen in 1950.

Dr. Rolf-Günther Nieberding, CEO of thyssenkrupp Automation Engineering, said: “We bring decades of experience in plant engineering and project execution for complex processes, critical projects and global customer structures into the dynamic environment of a rapidly growing German technology company. Combining Agile Robots’ innovation in robotics, software and system integration with our expertise will create targeted value for our joint customers and further support the strong growth of the Agile Robots Group.”

“Now is the right time to unite AI, robotics and industrial know-how. With thyssenkrupp Automation Engineering, we gain the perfect reinforcement to jointly drive the next industrial revolution – from Germany to the world,” said Dr. Zhaopeng Chen, founder and CEO of Agile Robots. “We will reposition the company and tap additional market segments. Our goal is to shorten innovation cycles even further and continuously optimize our customers’ production processes.”

Ahead of the transaction, Agile Robots, thyssenkrupp and IG Metall agreed on a Best and Fair Owner arrangement. This ensures fair and reliable framework conditions and provides for comprehensive involvement of employee representatives throughout the integration process. Ongoing restructuring measures at the sites in Bremen and Chemnitz/Hohenstein-Ernstthal are not affected by the transaction and will be completed as planned.

The sale of Automation Engineering forms part of the repositioning of thyssenkrupp Automotive Technology announced in July. The segment is aligning its portfolio around four customer- and technology-oriented areas: Chassis, Components, Aftermarket and Forging. The objective is to drive profitable growth through stronger customer proximity, efficient technologies and service-centric business models. Against this backdrop, new development paths – including partnerships or ownership models – were evaluated for selected businesses, including Automation Engineering. The now-agreed sale represents a logical element of this portfolio strategy.

• Federal Financial Supervisory Authority (BaFin) approves prospectus

• Initial listing and start of trading in the Prime Standard segment of the Frankfurt Stock Exchange planned for Monday, October 20, 2025

• Allotment planned for Friday, October 17, 2025; allotment ratio is 20:1

• thyssenkrupp AG remains strategic majority shareholder with 51 percent

• Miguel López: “Through the stock market listing, we are creating growth opportunities for TKMS and value for our shareholders.”

thyssenkrupp AG announces October 20, 2025, as the planned date for the initial listing of its marine business – TKMS AG & Co. KGaA (TKMS) – in the Prime Standard segment of the Frankfurt Stock Exchange. The basis for this is the approval of the prospectus by the German Federal Financial Supervisory Authority (BaFin).

With the commercial register entry, scheduled to take place immediately before the stock market debut, the spin-off of a minority interest in TKMS and the transfer of shares to the shareholders of thyssenkrupp AG will become legally effective. The spin-off process will be concluded with the planned start of trading on October 20. thyssenkrupp will remain the strategic majority shareholder in TKMS with a stake of 51 percent.

Allotment of TKMS Shares

In the context of the spin-off, shareholders will receive one share in TKMS AG & Co. KGaA for every 20 shares in thyssenkrupp AG. Fractional shares resulting from this ratio will be sold on the stock exchange and the proceeds credited accordingly to the custodial accounts of the affected shareholders. Ordinarily, the allotment date will be Friday, October 17, 2025, which is the planned date for the commercial register entry. Anyone holding shares in thyssenkrupp AG on that date will automatically receive the corresponding number of TKMS shares posted to their custodial account.

Miguel López, CEO of thyssenkrupp AG:

“With the stock market listing of TKMS, we are opening a new chapter at thyssenkrupp. We are facilitating growth opportunities and access to the capital market for TKMS, at the same time creating value for our shareholders. Going forward, they will participate directly in the success of two companies – thyssenkrupp AG and TKMS. In this way, we are creating transparency, freedom of choice and new headroom – for TKMS, for thyssenkrupp and for our investors.”

 On August 8, 2025, the Extraordinary General Meeting of thyssenkrupp AG approved the spin-off by a large majority. This standalone positioning of TKMS marks a key milestone in the strategic realignment of thyssenkrupp. The goal is to transform thyssenkrupp AG into a financial holding company that continues to hold interests in strong, independent companies under one roof.

As part of the spin-off, Deutsche Bank, Citi and Commerzbank are acting as financial advisors and listing agents in connection with the planned stock market listing. Macquarie Capital, BBVA, Crédit Agricole CIB and Société Générale are acting as additional financial advisors.

• Order intake increases by 21 percent to €10.1 billion, driven by Marine Systems

• Sales at €8.2 billion (prior year: €9.0 billion) due to price and demand factors

• Adjusted EBIT improves to €155 million (prior year: €149 million): APEX performance program delivers positive earnings effects

• Free cash flow before M&A improves to €(227) million (prior year: €(256) million)

• Fiscal year 2024/2025: sales forecast updated; forecast for adjusted EBIT narrowed to the lower end of the communicated range

In the 3rd quarter of fiscal year 2024/2025, thyssenkrupp saw solid business performance in a persistently challenging market environment. Order intake between April and June increased to €10.1 billion. This represents a year-on-year increase of 21 percent, primarily driven by strong new business at Marine Systems. Group sales were €8.2 billion (prior year: €9.0 billion), mainly due to declining price and demand effects. Despite the decrease in sales, the group kept adjusted EBIT stable, even posting a small increase to €155 million from the prior-year figure of €149 million. This trend was buoyed by positive effects from the APEX performance program. At €(227) million, free cash flow before M&A was also above the prior-year level (€(256) million). Looking at the year as a whole, thyssenkrupp has updated its sales forecast on the basis of unchanged weak demand and a persistently low price level. Sales are now expected in a range of (7) percent to (5) percent compared with the prior year (previously: (3) percent to 0 percent). As a consequence, the forecast for adjusted EBIT was also narrowed. The group now expects a figure at the lower end of the communicated range between €600 million and €1,000 million.

“The past quarter was characterized by enormous macroeconomic uncertainty. We are very much feeling the weak market environment in key customer industries such as the automotive, engineering and construction industries. Nevertheless, we have been able to counteract these effects with APEX and other rigorous cost-cutting measures and keep earnings stable,” says Miguel López, CEO of thyssenkrupp AG. “At the same time, we are making great progress on our strategic issues. We are aiming for a stock market listing of our marine business before the end of this calendar year. With the new collective restructuring agreement, we are establishing the basis for a successful future for Steel Europe. In the other segments too, we are working purposefully on the new future target model.”

Performance of the thyssenkrupp group and segments in the 3rd quarter 2024/2025

The group significantly increased order intake to €10.1 billion from €8.4 billion a year earlier. The Marine Systems segment posted substantial order growth, mainly due to the addition of two submarines in an extension of the order from Singapore. Moreover, Marine Systems concluded one of the largest service orders in the company’s history for the German Navy’s six submarines. Customer demand in the Automotive Technology segment was still restrained. Steel Europe and Materials Services were also impacted by further demand- and price-induced declines. The figures for the Decarbon Technologies segment were below the prior-year level overall.

Group sales amounted to €8.2 billion (prior year: €9.0 billion). This decline resulted mainly from weaker demand in the Automotive Technology, Materials Services and Steel Europe segments and lower prices at Materials Services and Steel Europe. The figure for the Decarbon Technologies segment was also below the prior year level overall. Marine Systems expanded sales thanks to progress in new construction projects and in the service and marine electronics businesses.

At €155 million, the group’s adjusted EBIT was above the prior-year level of €149 million. The increase resulted from the significantly improved earnings at Decarbon Technologies, which were due to positive one-time effects (mainly the reversal of a bad debt provision), the improved operating performance and the absence of extraordinary additional costs that had been incurred in the prior period. At Steel Europe, lower sales and shipments and a reduction in capacity utilization due to planned shutdowns for conversion work had a negative impact on earnings. Automotive Technology and Materials Services continued to operate in a challenging market environment. At Marine Systems, earnings were impacted by higher costs in connection with the goal of establishing a stand-alone solution. Positive effects from the APEX efficiency program buoyed earnings trends in all segments.

At €(227) million, free cash flow before M&A was slightly above the level of the prior-year quarter (€(256) million).

As of June 30, 2025, net financial assets were €3.7 billion (March 31, 2025: €4.0 billion). With cash and cash equivalents and undrawn committed credit lines totaling €5.7 billion, the group still has a very good liquidity position.

The bottom line was a net loss of €255 million (prior year: net loss of 33 million). A negative impact came mainly from a one-time tax effect of around €135 million in connection with preparing the planned spin-off of Marine Systems. Added to this were further impairment losses of around €100 million at Steel Europe and restructuring expenses of around €70 million at Automotive Technology. Net income after deducting minority interest was €(278) million (prior year: €(54) million); earnings per share came to €(0.45) (prior year: €(0.09)).

Equity amounted to €9.9 billion (March 31, 2025: €10.6 billion). In addition to the net loss, exchange rate effects also had an impact. The equity ratio remained at a comfortable value of just under 35 percent.

Strategic performance of the segments in the 3rd quarter 2024/2025

thyssenkrupp is pressing ahead with restructuring the group as planned. The long-term goal is to transform thyssenkrupp AG into a lean holding company that brings together the interests in strong, independent companies under one roof – with clear roles, autonomous management and individual contributions to value added. In the past months, crucial progress was achieved in each of the segments.

As of October 1, 2025, Automotive Technology will have a new structure consisting of four customer- and technology-aligned business units in order to optimally leverage its potential and grow profitably. The new structure will foster more efficient collaboration, a stronger customer focus and synergies. The efficiency program launched in March will run in parallel. It is planned to cut costs by more than €150 million by way of measures that include some 1,800 job reductions. In parallel, Automotive Technology is focusing on portfolio adjustments. The Automotive Body Solutions, Automation Engineering and Springs & Stabilizers business units will continue as separate businesses. In this connection, thyssenkrupp is exploring strategic options such as partnerships or new ownership models.

Thanks to its broad technology portfolio, Decarbon Technologies makes a significant contribution to the sustainable transformation of energy-intensive industries. The Uhde business unit is the world’s leading provider of ammonia technology and large-scale plants. At the end of May 2025, Uhde and Uniper entered into a strategic partnership aimed at bringing a key technology for global hydrogen trading to industrial maturity: the large-scale ammonia cracker. The aim of the partnership is to convert imported ammonia into hydrogen on an industrial scale and make it available for a wide range of industries such as energy, steel and chemicals. 

Materials Services is continuing its transformation from traditional materials supplier to supply chain service provider. Contributions to this will come from ramping up the various investments in the North American service and manufacturing businesses and in the service center business in Germany, as well as in strengthening the digital product portfolio. In the USA, Materials Services now ranks among the top 20 providers in the warehousing business. To strengthen its expertise in the area of digitalization, thyssenkrupp AG integrated the India technology center into Materials Services during the 3rd quarter.

Steel Europe is systematically pursuing its strategic realignment on the basis of the industrial concept for the future. On July 12, 2025, consensus was reached with the IG Metall labor union on the collective restructuring agreement entitled ‘Steel Realignment’ that is intended to serve as the foundation for successfully positioning thyssenkrupp Steel as a competitive business in the long term.

The company’s declared aim is to implement the urgently needed cost-cutting measures without any compulsory redundancies. At the start of July, the ramp-up of the new hot strip mill 4 and the new continuous caster 4 coupled with a fully automated slab logistics system concluded key investments totaling about €800 million to optimize the production network at the Duisburg site. In the project to construct the direct reduction plant in Duisburg, the preparation of the site was completed. Alongside the completed construction of three distribution stations, work will start in October on the steel and structural engineering of the facility.

With the approval of the shareholders of thyssenkrupp AG to spin off a minority interest, Marine Systems achieved a key milestone on its path toward becoming an independent listed system provider in the maritime defense market. With the entry into effect of the spin-off, 49 percent of the shares in the new TKMS AG & Co. KGaA (TKMS) will be transferred directly to the shareholders of thyssenkrupp AG, while thyssenkrupp AG itself will remain the majority shareholder. A Capital Markets Day is being prepared for the end of September, at which the independent company and its prospects will be presented. It is aimed to list TKMS in the Prime Standard of the Frankfurt Stock Exchange before the end of this calendar year.

The spin-off is not only intended to strengthen the financial independence of TKMS, but also deliver new opportunities for growth and innovation. On the basis of the orders received in the current fiscal year, the business already has an order backlog of €18.5 billion as of June 30, 2025. The rising demand anticipated in the core businesses of TKMS in the years ahead and long-term geostrategic developments will provide the company with additional growth opportunities.

Adjusted forecast for the 2024/2025 fiscal year

In light of the persistently challenging market environment, thyssenkrupp has made demand- and price-induced adjustments to the sales forecasts for Automotive Technology, Materials Services and Steel Europe. For the 2024/2025 fiscal year, the group is now assuming sales in a range of (7) percent to (5) percent (previously: (3) percent to 0 percent).

As a consequence, thyssenkrupp has also narrowed the forecast for adjusted EBIT and now predicts a figure at the lower end of the range between €600 million and €1,000 million.

In response to the tense situation, a more restrictive approach is being taken to planning investments. These are now expected in a range between €1,400 million and €1,600 million (previously: between €1,600 million and €1,800 million).

The group continues to assume that free cash flow before M&A will be in a range between 0 and €300 million. Net income is likely to be between €100 million and €500 million.

Dr. Axel Hamann, CFO of thyssenkrupp AG: “Our forecast reflects the persistently challenging market conditions. Despite this backdrop, we are confident of achieving our primary target of a positive free cash flow before M&A in the current fiscal year. At the same time, the systematic implementation of structural measures to improve efficiency and cut costs in all segments will remain of central importance. In this way, we will create the basis for making our businesses sustainably fit for the future.”

• A new, independent systems provider for the maritime defense market to be established

• TKMS is well positioned for an independent setup, with a strong order backlog, increasing revenues, and stable earnings development.

• Shareholders will benefit from growth and value creation.

• Independence will promote flexibility and innovative strength at TKMS.

• New perspectives for employees at industrial sites in Germany.

• thyssenkrupp AG to remain the strategic majority shareholder with a 51 percent stake.

• The transaction is an important step in the strategic realignment of the thyssenkrupp Group.

• Siegfried Russwurm: “Becoming independent gives TKMS the entrepreneurial freedom it needs to further develop technological excellence and make a substantial contribution to national and alliance defense.”

At today's Extraordinary General Meeting, the shareholders of thyssenkrupp AG approved the spin-off of its marine business, TKMS. This decision lays the foundation for a new, publicly listed systems provider in the maritime defense market. As part of the transaction, 49 percent of the shares in the new TKMS AG & Co. KGaA will be directly transferred to shareholders. thyssenkrupp AG will retain a 51 percent majority stake, thereby ensuring the strategic steering and stability of TKMS. This model combines the advantages of independent development with those of a strong anchor shareholder.

As part of the spin-off, shareholders will receive one share in the new TKMS AG & Co. KGaA for every 20 shares held in thyssenkrupp AG. The allocation will be proportional, meaning that the stake in the spun-off minority shareholding in TKMS corresponds to the previous stake in thyssenkrupp AG. The listing of TKMS AG & Co. KGaA on the Prime Standard segment of the Frankfurt Stock Exchange is planned for the current calendar year.

Prof. Dr.-Ing. Siegfried Russwurm, Chairman of the Supervisory Board of thyssenkrupp AG:
“Against the backdrop of the current security situation in Europe and around the world, it is crucial that Germany and its partners can rely on capable, innovative companies such as TKMS. Becoming independent gives TKMS the entrepreneurial freedom it needs to further develop technological excellence and make a substantial contribution to national and alliance defense.
At the same time, this strengthens the security policy capabilities of Germany and Europe.”

A central element of the new structure is TKMS’s direct access to the capital market. This will enable TKMS to independently finance growth, develop new technologies, and pursue targeted partnerships or acquisitions.

Miguel López, CEO of thyssenkrupp AG:
“With entrepreneurial independence, TKMS gains the freedom to drive innovation more rapidly, invest in a targeted manner, and respond flexibly to customer and market requirements. The agility and accountability of an independent company enable TKMS to take advantage of market opportunities more consistently and compete sustainably on an international level.” López added that the stock market listing would also increase TKMS’s visibility and valuation transparency, providing shareholders with attractive new investment opportunities. The new structure also facilitates targeted engagement with partners and provides a solid foundation for potential mergers within the fragmented European defense industry.

Potential for greater stability and future growth

For the approximately 8,300 TKMS employees, independence opens up additional stability and growth prospects. The expansion of the maritime defense industry and demand for complex system solutions are expected to strengthen and secure jobs in Germany over the long term.

TKMS is in an excellent economic position and has a solid foundation for independent development. The order backlog has grown significantly in recent years and currently exceeds 18 billion euros. Recent major orders include several submarine projects for European and international navies, as well as the construction of the research vessel Polarstern II. Targeted investments, structural optimization, and the integration of key technology competencies – such as through the acquisition of Atlas Elektronik – have enhanced operational performance. Project lead times have been shortened, margins improved, and overall performance increased. The robust, cash-generating business model ensures stability and planning reliability for both the thyssenkrupp Group and the future shareholders of the independent TKMS AG & Co. KGaA.

In addition, TKMS is making targeted investments in innovative technologies, such as autonomous systems and digitalization, and is thus well positioned to meet future requirements in the maritime defense market.

The independence of TKMS marks a key milestone in the strategic realignment of thyssenkrupp AG. With the spin-off of a 49 percent minority stake, thyssenkrupp is pursuing the goal of transforming itself from a broadly positioned industrial conglomerate into a focused, strategically managed holding company. In the future, thyssenkrupp AG will act as a streamlined management holding company, under whose umbrella independent and entrepreneurially responsible holdings are united.

The results of the votes on individual agenda items and resolutions of the Extraordinary General Meeting can be found here: Annual General Meeting

• Industrial concept and agreement in principle form the basis of the new collective restructuring agreement

• Key points of the operational agreements required for the restructuring have been defined

• Finalization of agreements with target date at the end of September

• Term of the new collective-bargaining agreement September 30, 2030

• Signature of the accord pending agreement on financing

  
  

thyssenkrupp Steel and the IG Metall union have laid the foundation for the long-term competitiveness and successful positioning of Germany’s largest steel pro-ducer. Following intensive negotiations, a joint agreement on a restructuring collective agree-ment entitled ‘Steel Realignment’ was reached in the night from Friday to Saturday. The basis for this is the industrial concept presented by thyssenkrupp Steel’s Executive Board in No-vember last year and the agreement in principle concluded between IG Metall and the com-pany in May.

At the same time, both parties reached an understanding on the key elements of the opera-tional agreements required for the restructuring, such as a reconciliation of interests and a social compensation plan. These are to be worked out in detail and finalized by the end of September. Both parties remain firmly committed to avoiding compulsory redundancies. The implementation of the agreement is subject to approval by IG Metall members at thyssenkrupp Steel and a pending agreement on the company’s future financing.

The ‘Steel Realignment’ collective agreement essentially regulates three areas, which to-gether are intended to ensure an independent and economically competitive position for thyssenkrupp Steel in the medium term.

1. Adaptations to the production network and investments

   A reduction in production capacities to a future target shipping level of 8.7 to 9 mil-lion metric tons has been agreed through collective bargaining. Based on this, it is planned to shut down blast furnace 9 at the beginning of the next financial year. Blast furnace 8 is to be removed from the network when the direct reduction plant currently under construction goes into operation. It was also agreed to further detail the plans for an electrical steel mill.

   The closure of hot strip mill 3 at the Bochum location will go ahead at the beginning of 2026. It was also agreed to close the electrical steel production site on Castroper Strasse ahead of schedule by the end of the financial year 27/28. The closure of the plant in Eichen is to be avoided. To this end, optimization concepts for the Siegerland site are under review.

   On the investment side, in addition to the funds required for maintaining the plants and equipment and for building the direct reduction plant, investments are being made in upgrading a continuous casting line [divider] so as to ensure the supply of narrow slabs required at the Hohenlimburg location. In addition, investments in modernizing Electrical Steel's locations have been agreed.

   These adaptations to the production network will be accompanied by a workforce reduction by about 1,600 employees, which is to be implemented by the end of the 2028/29 financial year.

   
   

2. Staff reductions through efficiency measures

   In addition to the adaptations to the production network, further personnel efficiency measures have been agreed with the goal of achieving a leaner and more efficient thyssenkrupp Steel in the future. These measures should be implemented by the end of the 2027/28 financial year, and will affect around 3,700 employees.

   
   

3. Workforce adjustments through spin-offs (make-or-buy) or sale of business activities

   In parallel with the adjustments to the production network and the additional job cuts as part of efficiency measures, a process has been agreed to review and implement ‘make-or-buy’ measures. Up to 4,000 employees are to be outsourced by the end of the 2029/30 financial year.

Not part of the negotiations were the already completed sales of the Spanish company thyssenkrupp Galmed and the Indian subsidiary of thyssenkrupp Electrical Steel, with a total of around 500 employees. In addition, there is the personnel share of around 1,500 employ-ees attributable to thyssenkrupp Steel from the exit from HKM.

Moreover, substantial personnel cost savings have been defined in order to reduce thyssenkrupp Steel's cost position to a competitive level. The measures essentially comprise:

• Cancellation of collectively agreed special payments to safeguard employment and holiday pay, reduction of the so-called ‘Christmas bonus’;

• Reduction in weekly working hours from 34 to 32.5 hours in the unionized sector, with simultaneous temporary suspension of optional working hours;

• Reduction in working hours for non-managerial, non-pay scale employees from 41 to 39 hours;

• Cancellation of the granting of 6 free days for non-pay scale employees, with a buy-back option

• Workforce adjustment instruments;

• Reduction in anniversary bonuses;

• Halving of on-call allowances.

Marie Jaroni, Head of Sales and Transformation at thyssenkrupp Steel: "Following intensive negotiations, the agreement reached together with employee representatives on a restruc-turing collective agreement is an important milestone for the future viability of thyssenkrupp Steel. We are scaling back excess capacities, improving efficiency, and thus achieving a competitive cost level. This is another urgently needed step into the future of thyssenkrupp Steel."

Dirk Schulte, Chief Human Resources Officer and Labor Director at thyssenkrupp Steel: "The agreement on a collective bargaining framework provides clarity and transparency for our company and its employees. The negotiations demanded significant concessions from both sides, as compromises typically do. With this foundation, we can now move swiftly to finalize the necessary reconciliation of interests and social plans."

• New continuous casting line 4, extensively modernized hot strip mill 4 and new, fully automated slab logistics are entering the ramp-up phase

• Focus on stronger and thinner premium steels, for example for electric mobility and the energy turnaround

• High-tech facilities for greater efficiency, quality, flexibility, and security of supply

• Total investment volume of around 800 million euros

After around two years of construction and assembly work, thyssenkrupp Steel Europe has implemented major strategic investments at the Duisburg location. With the core facilities now completed, Germany's largest steelmaker has modernized and optimized its production network at key interfaces. The new continuous casting line 4, the extensively modernized hot strip mill 4 with two new walking beam furnaces, and fully automated slab logistics are at the center of the major project. This means thyssenkrupp Steel possesses one of the most modern plant networks in the European steel industry. The new units will replace the 20-year-old casting rolling line as a means of meeting increasing customer expectations and satisfying the highest material requirements in the future. At around 800 million euros, this is one of the largest investment projects in the history of thyssenkrupp Steel.

Dennis Grimm, CEO of thyssenkrupp Steel, emphasizes: "This project is a decisive milestone in strengthening our leadership in technological and quality terms, while meeting the increasing expectations of our customers. Despite a very challenging economic environment, we are able to invest around 800 million euros to further improve our competitive position. This is a strong signal for steel and the Duisburg location. The future is being created here."

State Minister for Economics, Industry, Climate Protection and Energy Mona Neubaur: "The new plant technology in Duisburg is an important step towards mod- ernizing steel production in North Rhine-Westphalia. The investment is a positive demonstration of corporate responsibility toward the location and it will contribute to increasing quality, efficiency, and flexibility. It will strengthen industrial value cre- ation in areas such as automotive construction and energy supply, ensuring that North Rhine-Westphalia remains a competitive industrial location."

High-tech facilities for stable processes and high-quality customer supply

The new units are located at the interface between upstream operations and hot strip pro- duction, making them a core feature of the integrated production network in the northern part of Duisburg. The reconfiguration that has now been completed will not only raise quality by increasing casting and rolling capacities, but will also improve capacity utilization of the up- stream basic oxygen steelmaking plant 1. This will increase the overall performance of the production network even more at a central point – with lasting positive effects on the security of supply for customers.

The new continuous casting line 4 replaces the casting section of the old casting rolling line and will ensure flexible and efficient slab production with high levels of precision. The system is also characterized by enhanced degrees of purity, improved shape accuracy, and surface quality.

The downstream hot strip mill 4, which is designed for around 3 million metric tons and un- derwent extensive modernization, has been equipped with two new walking beam furnaces that ensure more precise rolling accuracy and, above all, optimized surface quality. State-of- the-art control systems ensure the narrowest thickness tolerances, while optimized cooling processes further improve the material properties of the hot strip. The mill-edged slabs used can also be produced in significantly more flexible dimensions while allowing for an expanded product range, for example with regard to high-strength grades as well as dynamo and trans- former steels.

The completely newly created slab logistics represents the link between the two units. It en- sures fully automated, largely digital process handling. State-of-the-art control systems allow around 1.7 million metric tons per year to be synchronized in real time. This ensures maximum flexibility and efficiency in the process flow within the new system network.

All new systems are characterized by a high degree of automation and state-of-the-art control systems, for example enabling real-time monitoring of the production press through the use of digital twins. This also serves to ensure consistent and continuously optimized product quality.

The major investment will also strengthen the entire integrated site in the north of Duisburg, repositioning thyssenkrupp Steel efficiently and gearing up the business to overcome future challenges.

Chairman of the General Works Council Tekin Nasikkol: "This major project, which was agreed in a collective-bargaining agreement in spring 2020, is a clear commit- ment to Europe's largest steel location here in Duisburg. In difficult economic times, it sends a strong signal: We are creating the future with modern technology, quali- fied employees, and high-quality products. It is crucial for us now to continue invest- ing in the competitiveness of our company and our transformation, in order to se- cure good jobs for the region in the long term. Today's investments create secure jobs for tomorrow. That was just as true five years ago as it is today."

Dennis Grimm: "The new linked plant components are a rejuvenation treatment for key elements of our production network. We now possess one of the most modern production networks in the European steel industry. This will enable us to optimize our slab and hot strip qualities significantly with the aim of further developing our product portfolio in line with future requirements, particularly in the case of multi- phase steels, high-strength steels, and grades for electric mobility and the energy turnaround. With a more value-oriented portfolio, we can sustainably strengthen our earnings quality in the long term while expanding our competitive position. Addition- ally, we will provide our customers with the products that help them in their compet- itive environment."

Technical reference data of the new facilities

Hot strip mill 4
·       Length: 360 m
·       Nominal capacity p.a.: 3.1 million metric t/a
·       Strip widths: 900 mm to 1600 mm
·       Strip thicknesses: 1.2 mm to 9.0 mm

Walking beam furnaces 1 and 2
·       Temperature range: up to 1300 °C
·       Length: approx. 62 m
·       Width: approx. 11 m
·       Max. output per furnace: 380 metric t/h for cold application and 560 t/h for direct appli- cation
·       Max. slab length: 10 m
·       Max. speed: 25 m/h
·       Mixed gas firing

Continuous casting line 4
·       Metallurgic length:      35.5 m
·       Normal capacity p.a.: 2.3 million metric t/a
·       Slab width:                 900 – 1800 mm
·       Slab thickness:           257 mm

Slab storage yard
·       Fully automated with intelligent logistics control
·       Real-time synchronization of approx. 1.7 million metric tons of slabs/year
·       Significantly increased operational reliability, minimized commitment of personnel

You can watch an aerial tour of the new facilities by clicking this link: Drone flight through Europe's most modern hot strip mill.

• Modernization of submarines to ensure technological superiority in national and alliance defense

• Contract spans a total volume of more than € 800 million and a term of ten years

• TKMS as a reliable partner of the German Navy

TKMS has signed one of the largest service contracts in the company’s history with the Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support (BAAINBw). The official signing of the contract took place today in Koblenz. As prime contractor, TKMS will provide comprehensive modernization and support services for the six German Type 212A submarines. The order spans a total volume of more than € 800 million and will have a term of ten years.

The contract provides for the modernization of core systems on board the boats, in particular the navigation system and the command and weapons control system on the four older boats of the first batch. The objective is to secure the technological superiority of the German submarine fleet over the long term, in order to meet future challenges in national and alliance defense in a targeted manner.

“This important service contract also strengthens our established and trusting cooperation with the German Navy in the area of maintenance,” emphasizes Oliver Burkhard, CEO of TKMS. “As a maritime powerhouse, we will utilize the full range of services offered by TKMS and contribute to the high operational availability and performance of the German submarine fleet with our many years of expertise.”

Reliable partner of the German Navy

TKMS is a key industrial partner at the side of the German Navy. In the field of logistic support, the company offers a comprehensive range of services, from maintenance and repair to modernization and product-specific material logistics, thus making an important and long-term contribution to the technical readiness of the German submarine fleet. As a prime contractor in submarine construction, TKMS bundles the innovative strength of numerous small and medium-sized companies and thus also makes a significant contribution to industrial value creation in Germany.

TKMS is one of the world’s leading suppliers of conventional submarines. The latest orders in the underwater sector include four more 212CD submarines for Germany and two more 218SG submarines for Singapore. As of May 2025, TKMS order backlog stood at a record level of € 18 billion and will ensure production capacity utilization and employment well into the 2040s. The service contract that has now been concluded also contributes to the further increase in the order book and prolongs the generally positive market situation.

• Automotive Technology realigns along future-proof structure with four business units

• New structure enables more efficient collaboration, stronger customer focus and profitable growth

• thyssenkrupp continues to run Automotive Body Solutions, Automation Engineering and Springs & Stabilizers business units separately and considers partnerships or new ownership models

• Volkmar Dinstuhl, CEO Automotive Technology: “We are developing Automotive Technology into a focused, high-performance automotive supplier that plays a key role in shaping the mobility of tomorrow and is attractive to investors.”

Effective October 1, 2025, the automotive supplier thyssenkrupp Automotive Technology will introduce a customer- and technology-oriented structure with four business units. With the new setup, the segment is positioning itself to exploit growth potential and become capital market-ready in the coming years. As a quality provider, Automotive Technology is ideally positioned to benefit from the growing demand in the Chinese market and the transition to electromobility.

As part of the realignment, Automotive Technology will form four business units in which the technologically leading and fast-growing activities will be bundled - with a focus on chassis, components, aftermarket and forging business. With the new structure, the segment is laying the foundations for more efficient cooperation, a stronger customer focus and profitable growth. In future, the business units will be organized primarily according to their respective products, technologies and business models, such as the aftermarket business. At the same time, the support functions will be brought closer together in order to increase their efficiency. In the past financial year 2023/2024, the segmentʼs approximately 31,600 employees generated sales of € 7.5 billion.

Volkmar Dinstuhl, CEO Automotive Technology: “With the realignment, we are taking a big leap forward and creating more clarity, speed and customer proximity. In the future structure, we will be able to fully exploit our potential and grow profitably. In this way, we are developing Automotive Technology into a focused, high-performance automotive supplier that plays a key role in shaping the mobility of tomorrow and is attractive to investors.”

The current business units Automotive Body Solutions, Automation Engineering and Springs & Stabilizers will not be integrated into the new structure, but will continue to operate separately. thyssenkrupp is examining new development prospects for these businesses - also in the form of partnerships or ownership models. The businesses should be able to operate in the structure that best suits their potential.

After Automotive Technology responded to the challenging market situation with a global efficiency program in March of this year, the segment is taking the next step with the new structure. With its future positioning, Automotive Technology is prepared to help shape the profound transformation of the automotive industry.

• Resolution planned at extraordinary general meeting on August 8, 2025 – aim is to list
  Marine Systems (TKMS) on the Frankfurt Stock Exchange within this calendar year

• Independence should boost the competitiveness and growth opportunities of TKMS

• Executive Board presents its future strategic target model for the further development of the group as a whole

• Top management focuses on continuity in the strategic transformation and improvement in the competitiveness of the company’s businesses

• Supervisory Board agrees to extend the contract of the CEO of thyssenkrupp AG, Miguel Ángel López Borrego, by five years until May 31, 2031

thyssenkrupp is committed to consistently pressing ahead with the spin-off of the Marine Systems segment (TKMS). At an extraordinary meeting, the Supervisory Board of thyssenkrupp AG today approved the Executive Board’s plans to spin off of a minority interest in TKMS. The positioning as a stand-alone listed company should boost the competitiveness and growth opportunities of TKMS in the long term.

The plans involve consolidating the marine business under a new holding company and transferring 49 percent of the TKMS shares to the shareholders of thyssenkrupp AG in proportion to their interest in thyssenkrupp AG. This would make the shareholders of thyssenkrupp AG direct shareholders of TKMS. Through the spin-off, 51 percent – and hence the majority interest – of TKMS remain with thyssenkrupp AG. TKMS thus remains a fully consolidated company in the thyssenkrupp Group. The shareholders of thyssenkrupp AG will be asked to approve the plan at an extraordinary general meeting on August 8, 2025. The aim is to finalize the listing of TKMS on the Frankfurt Stock Exchange within this calendar year.

Prof. Siegfried Russwurm, Chairman of the Supervisory Board of thyssenkrupp AG: “TKMS is proof that Germany can set standards worldwide in cutting-edge technologies. The Supervisory Board of thyssenkrupp AG is convinced that TKMS will be best able to exploit the huge growth potential as a global pioneer in the maritime defense industry as an independent entity. We therefore recommend that the shareholders of thyssenkrupp AG approve the spin-off of TKMS at the extraordinary general meeting.”

As the world market leader for non-nuclear submarines, TKMS is one of the leading system providers in the maritime defense industry. With an order backlog at a record level of around 18 billion euros, production at the company will be at full capacity well into the next decade. The long-term geostrategic developments also provide the company with further growth opportunities that will be best leveraged through this independence.

The planned spin-off is consistent with the group’s strategic realignment. thyssenkrupp AG is basically aiming in the medium term to become a strategic holding company with autonomous units, while retaining majority stakes in the businesses. Similar steps were already taken in the past, such as floating the hydrogen subsidiary thyssenkrupp nucera on the stock market.

Future strategic target model for the further development of the group presented

At the extraordinary meeting of the Supervisory Board, the Executive Board of thyssenkrupp AG also presented the current status of its future strategic target model for the further development of the group as a whole, parts of which had become known prematurely in May. The main goal of this strategy is to gradually turn all business units at thyssenkrupp into independent companies and open them up to third-party involvement. Important steps toward this goal have already been taken with the spin-off of a minority interest of Marine Systems at a well-advanced stage and the initiated efforts to create a 50/50 joint venture of Steel Europe with EPG.

Over the coming years, efforts will be made to achieve capital market readiness for the Materials Services and Automotive Technology segments as well and then to make them independent. The relatively young Decarbon Technologies segment is also to be made independent in the future, as soon as the necessary requirements have been met and the market for green technologies permits it. thyssenkrupp AG basically intends to retain a majority stake in the businesses once they have achieved capital market readiness. The goal is to form a focused, agile, and realigned industrial group: thyssenkrupp AG as the strategic holding company with strong, independent businesses.

Contract for CEO Miguel Ángel López Borrego extended by five years

At today’s extraordinary meeting, the Supervisory Board also agreed to extend the contract of the CEO of thyssenkrupp AG, Miguel Ángel López Borrego, by five years until May 31, 2031. Mr. López’s current contract ends at the end of May 2026.

Chairman of the Supervisory Board Siegfried Russwurm: “In the past two years, Miguel López has pursued the strategic realignment of thyssenkrupp with tremendous energy and clear objectives, and made important progress. That applies in particular to the initiated restructuring and the 20-percent stake of EPG in thyssenkrupp Steel Europe, the spin-off of Marine Systems at a well-advanced stage, and the establishment of the new Decarbon Technologies segment, including the restructuring of businesses. The future strategic target model presented to the Supervisory Board, which is currently being elaborated in detail by the Executive Board, outlines a coherent path for the further development of the group. It opens up the opportunity to win back the profitability of the business units and their role as important industrial employers in the region.

The group is undergoing a challenging and urgently needed transformation process, in which reliability, leadership and clear priorities are of the essence. The extension of Miguel López’s contract is an expression of our confidence in his leadership and our conviction that clear orientation and continuity along the chosen path are crucial to the further progress and future of thyssenkrupp.”

Please find here a full resume and portrait photo of Miguel López

• Strategic partnership lays foundation for industrial ammonia cracker

• Development of one of the world's first demonstration plants of its kind in Gelsenkirchen-Scholven

• Contribution to energy security and sustainable transformation

• Funded by the Ministry of Economic Affairs, Industry, Climate Protection, and Energy of the State of NRW

thyssenkrupp Uhde and Uniper are entering into a strategic partnership to bring a key technology for global hydrogen trading to industrial maturity: the large-scale ammonia cracker. In an ammonia cracker, ammonia is catalytically broken down into its components, hydrogen and nitrogen, at high temperatures, and pure hydrogen is then produced in a purification process. In a first step, a demonstration plant with a capacity of 28 tons of ammonia per day will be built at Uniper’s Gelsenkirchen-Scholven site in Germany. The plant will be one of the first of its kind in the world and will serve as the basis for the planned hydrogen import terminal in Wilhelmshaven, northwestern Germany, where the technology is to be applied on a large industrial scale in a second step.

The aim of the partnership is to convert imported ammonia into hydrogen on an industrial scale and make it available for a wide range of industries such as energy, steel, and chemicals. The cooperation marks an important step towards strengthening energy security and the sustainable transformation of energy-intensive industries. The use of ammonia as a transport and storage medium makes it possible to provide green or low-carbon hydrogen from global production sites in large quantities at low cost – a prerequisite for the successful ramp-up of the hydrogen economy.

Holger Kreetz, COO of Uniper: “Uniper is actively committed to establishing hydrogen as an important component of the future energy mix that combines security and sustainability. Our aim is to strengthen the resilience of the economy. In order to meet Germany’s future hydrogen needs, we are dependent on imports from abroad. The partnership between Uniper and thyssenkrupp Uhde is therefore an important milestone for the hydrogen ramp-up and the decarbonization of industry. With the ammonia cracker in Scholven, we’re laying the groundwork to trade hydrogen internationally and making it available across industries.”

Nadja Håkansson, CEO of thyssenkrupp Uhde: “Uniper’s position as a leader in the energy markets and experienced asset operator, combined with our proven track record as a global leader in ammonia technology and large-scale plant delivery, forms a strong foundation for success. This joint capability ensures that the cracker plant is optimized not only for performance and efficiency but also for safety, long-term reliability, and total lifecycle cost. This integrated approach ensures a high level of confidence across the industry that the plant will consistently deliver top-tier operational performance throughout its entire lifecycle.”

The project is supported by funding from the state of North Rhine-Westphalia to realize innovative components of the demonstration plant at the Scholven site. The plant serves to gain knowledge for the subsequent construction of a large-scale commercial plant. Both companies are also contributing significant funds of their own.

Mona Neubaur, Minister for Economic Affairs, Industry, Climate Protection, and Energy of the State of North Rhine-Westphalia: “Hydrogen is one of the key technologies for the future viability of our industry in North Rhine-Westphalia. Like no other federal state, we need energy and raw materials for our economy and prosperity. With the help of ammonia cracking technology, we are opening up the possibility of obtaining green energy from numerous regions around the world. In doing so, we are strengthening the resilience of our business location and demonstrating how sustainability and security of supply can work together.”

Ammonia cracking technology is regarded as the missing element for a functioning global hydrogen infrastructure. As ammonia has a significantly higher energy density by volume and is easier to transport than pure hydrogen, it is ideally suited as a carrier medium. As a raw material for fertilizers, ammonia has been traded worldwide in large quantities and transported by ship for decades. If low-carbon hydrogen is converted directly into ammonia at the production site, this infrastructure can be easily utilized. Cracking allows the hydrogen to be reconverted at the destination and used in a climate-friendly way.

Following successful development and tests on a laboratory scale, the construction and operation of the “demo cracker” are now important steps towards large-scale implementation. During operation, data is obtained that is needed for further optimization of the technology as well as for scaling up to industrial scale in order to build the first commercial plant.

The cracker will be built on Uniper’s power plant site in Gelsenkirchen-Scholven, where new, sustainable projects are to be developed. All official approvals required for the construction and operation of the demo cracker have been obtained. Construction has started, and commissioning is planned for the end of 2026.

Your contact for more information:

thyssenkrupp Uhde
Christian Dill
Spokesperson
T +49 231 547 3334
christian.dill@thyssenkrupp.com  

Uniper SE
Svenja Kaltheuner
Spokesperson
T +49 1515 1500408
svenja.kaltheuner@uniper.energy

• Future strategic target model to be presented to the Supervisory Board before the end of this fiscal year

• thyssenkrupp AG to become a strategic holding company with independent business segments and majority interests in its businesses in the medium term

• Planned stand-alone entities will ensure greater flexibility, transparency, and value crystallization

• Listing of Marine Systems on the stock exchange planned for this calendar year

The Executive Board of thyssenkrupp AG has made significant progress in developing a strategic target model for the future course of the entire Group and will present its plans to the Supervisory Board of thyssenkrupp AG before the end of this fiscal year. The core of the plans is to gradually separate all business segments of thyssenkrupp and open them up for third-party investment. With the initiated spin-off of a minority stake in thyssenkrupp Marine Systems and the planned 50/50 joint venture between thyssenkrupp Steel Europe and EPG, important steps have already been taken in this direction. In the coming years, the Materials Services and Automotive Technology segments are also to be prepared for the capital markets and become independent as soon as the necessary preconditions have been met. The newly established Decarbon Technologies segment is also set to become independent in the future, in line with the expected upturn in the markets for green technologies. With the exception of the planned steel joint venture, thyssenkrupp AG aims to retain controlling interests in the business areas once they have been made ready for the capital market. The goal is to form a focused, agile, and realigned industrial group: thyssenkrupp AG as the strategic holding company with strong, independent businesses.

"With the strategic transformation of thyssenkrupp, we are resolutely continuing on our chosen course. The future independence of our current segments – with the advantage of their own access to capital markets and the possibility of third-party investment – will increase their entrepreneurial flexibility, strengthen their investment plans and earnings responsibility, and improve transparency for investors," said Miguel López, CEO of thyssenkrupp AG, explaining the vision. “Such a step will enable us to leverage the full value creation potential of the businesses and use their independence in a targeted way for investments, market opportunities, and further growth. At the same time, thyssenkrupp AG will retain full control and continue to participate in the future performance of the businesses.”

Clear Future Prospects

The planned measures are in line with thyssenkrupp AG's previously announced strategy of providing each business with the best possible starting point for profitable growth and sustainable competitiveness. “thyssenkrupp nucera has developed positively in its current independent role, with direct access to external sources of capital and clear ownership structures,” says López. thyssenkrupp AG retains a majority stake in the company. “We want to build on this. We are convinced that the segments can and will best leverage the global growth opportunities in their industries as independent entities.”

With this realignment, the Group is offering its nearly 96,000 employees worldwide clear opportunities for the future. “By creating the conditions for the best possible development of the segments, we are giving the people at thyssenkrupp a good and secure future,” says Wilfried von Rath, CHRO and Labor Director of thyssenkrupp AG. "After all, competitive and sustainable businesses are the prerequisite for long-term job security. The brand's high global profile and the strong emotional attachment of our employees to thyssenkrupp are an excellent basis for successfully repositioning this long-established company under new conditions.”