• Market leader by sales in Germany and Europe, number three in North America^[1]; sales of €11.4 billion in fiscal year 2024/25

• New mid-term financial targets introduced: >4% sales CAGR and adjusted EBITDA margin of 4–5%

• Spin-off of a minority stake to the shareholders of thyssenkrupp AG to be voted on at the Extraordinary General Meeting of thyssenkrupp AG on 7 August 2026

tk accelis, a global leader in materials distribution and supply chain services, today hosted its first Capital Markets Day in London. The company presented its strategy and introduced new mid-term financial targets – a key milestone on the path towards its planned spin-off of a minority stake to the shareholders of thyssenkrupp AG and intended stock market listing later this year. Shareholders of thyssenkrupp AG will vote on the formal spin-off at an Extraordinary General Meeting of thyssenkrupp AG on 7 August 2026.

CEO Ilse Henne: “Our performance demonstrates that tk accelis is ready for the capital markets. We have shaped the company with the right strategy and the right team. Today, we see ourselves exactly where industry needs us and where we can create sustainable value. This is why we serve as a partner of choice for materials and supply chain solutions across many advanced industries. Demand for our products and solutions is increasing across all our core markets, particularly in North America. As an independent company, we want to make decisions even faster, take targeted investments, and grow our higher-margin businesses.”

Global presence, broad customer base

tk accelis is the market leader by sales in Germany and Europe and the third-largest player in North America¹. With operations in more than 30 countries, around 400 sites and approximately 15,500 employees, the company serves some 250,000 customers worldwide. Its ten largest customers account for less than 10% of annual sales, underlining the breadth and resilience of tk accelis’ customer base.

The company operates through three business units. The Materials business unit (FY 2024/25 sales: €7.0 billion^[2]) comprises the distribution business with a strong network across Europe and North America as well as the global trading business. The business is mainly transactional but offers a wide range of materials-related services like cutting, drilling or bending. The Processing business unit (FY 2024/25 sales: €3.1 billion²) provides customized processing of flat-rolled steel, stainless steel and aluminum through its service center network. Its deep integration into customers’ value chains creates strong customer stickiness and resilient margins. The Solutions business unit (FY 2024/25 sales: €1.4 billion²) provides integrated supply chain management, including sourcing, warehousing, digital orchestration and 3PL/4PL logistics services.

Together, these capabilities enable tk accelis to cover the entire value chain – from sourcing to complex supply chain management. Therefore, tk accelis considers itself to be the only true global Materials-as-a-Service (MaaS) provider.

Large and growing market

The addressable market for tk accelis is expected to grow from approximately €800 billion in 2024 to around €1 trillion by 2030, representing annual growth of around 4%. Key growth drivers include the regionalization of supply chains, public infrastructure investments in Europe and North America, and the increasing outsourcing of logistics and supply chain functions to specialized partners. Geopolitical developments – from U.S. tariffs and the EU Carbon Border Adjustment Mechanism (CBAM) to sourcing risks related to critical minerals – are further increasing demand for integrated MaaS solutions capable of managing increasingly complex global supply chains.

Markets where tk accelis is already positioned as a partner of choice could develop dynamically in particular. Demand for materials such as steel, copper and aluminum in the data center sector is expected to grow by more than 20% annually in the coming years. Here, tk accelis focuses on customer-focused solutions such as its modular assembly kit offering, which can significantly accelerate data center construction. The company’s ability to provide tailored aluminum and copper solutions also positions it well to benefit from the electric vehicle market, which is expected to grow by around 13% annually in Europe and North America through 2030. The market for 3PL/4PL solutions, which is highly relevant for the Solutions business unit, is expected to outpace overall market growth in several sectors, for example in aerospace (c. 8% CAGR) and construction (c. 7% CAGR).

Strategy to accelerate performance, supported by future independence

tk accelis is pursuing three mid-term strategic priorities to strengthen profitability. First, the company is expanding its higher-margin services business by growing manufacturing, value-added processing and supply chain services across all three business units, with the aim of increasing the share of recurring revenues. Second, tk accelis is accelerating its expansion in North America. In addition to organic growth initiatives, including the expansion of manufacturing capacities in Santa Teresa, the company recently strengthened its North American footprint through the acquisition of Aceroteca in Mexico. Third, tk accelis is optimizing and digitalizing processes, leveraging AI to enhance efficiency and actively managing its portfolio, with the objective of structurally reducing its cost base.

The envisioned independence enables tk accelis to focus fully on its own value creation, accelerate decision-making and allocate capital more effectively. A public listing will also provide additional access to external capital, creating the foundation to drive growth in higher-margin businesses.

Clear mid-term targets

CFO Daniel Wodera: “Our transformation is real, measurable and sustainable. Our capital-efficient business model is designed to deliver solid cash flows across market cycles and supports sustainable value creation for our company and shareholders. We are growing profitably, we are funding that growth through our own cash generation and we have recently improved our earnings. We are seeing strong contributions from our North American business, and we believe in our Materials-as-a-Service strategy. Going forward, we see clear opportunities for further margin expansion in the medium term.”

At its Capital Markets Day, tk accelis introduced new mid-term targets. The company’s ambition is to achieve a sales CAGR of more than 4% and increase its Adjusted EBITDA margin to 4–5%. The lower end of the target range is expected to be achieved through organic growth and performance improvements, while the upper end is intended to be supported by additional portfolio measures and acquisitions. All three business units are expected to contribute to margin expansion. The target margin for Materials is around 3%, for Processing 3–4%, and for Solutions 12–14%.

^[1] Ranking for Germany based on company analysis. Ranking for Europe and North America based on McKinsey analysis on estimated sales of top 5 players and company analysis.

^[2] Based on the unaudited, preliminary combined financial statements.

Forward-looking statements

This communication includes “forward-looking statements”. These statements often contain words such as “anticipate”, “believe”, “intend”, “estimate”, “expect”, “plan”, “project”, “target” or words of similar  meaning. All statements other than statements of historical facts included in this communication,  including, without limitation, those regarding the segment “Materials Services” of thyssenkrupp AG, to be spun off into tk accelis Group AG & Co. KGaA’s (the “Company”) financial position, business strategy,  plans and objectives of management for future operations (including cost savings and productivity improvement plans) are forward-looking statements. By their nature, such forward-looking  statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the  Company’s present and future business strategies and the market environment in which the  Company will operate in the future. These forward-looking statements speak only as of the date of  this communication. Each of the Company, the relevant subsidiaries and their respective agents,  employees and advisers, expressly disclaims any obligation or undertaking to update any forward looking statements contained herein. You are urged to consider these factors carefully in evaluating the forward-looking statements in this communication and not to place undue reliance on such statements.

• Shareholders Salzgitter, thyssenkrupp Steel, and Vallourec reach final agreement

• Hüttenwerke Krupp Mannesmann becomes a wholly owned subsidiary of Salzgitter AG

• Steel production continues at the location rooted in tradition – with a clear focus on the green transition and a reduced workforce 

Steel production continues at the southern Duisburg location that is steeped in tradition. Hüttenwerke Krupp Mannesmann will become a wholly owned subsidiary of Salzgitter AG in the future, after the two co-shareholders, thyssenkrupp Steel Europe and Vallourec, announced their intention to withdraw from the joint venture. With this step, the Salzgitter Group is assuming full responsibility for HKM and aims to prepare the integrated steelworks for the challenges ahead with a clearly defined plan and a total commitment to the green transition.

In early February, Salzgitter AG and thyssenkrupp Steel had agreed on a key issues paper regarding the complete acquisition of HKM. In the course of intensive and meticulous negotiations, the parties have now reached a final agreement that serves the interests of all existing shareholders. Following the signing of the contracts on July 8, the integration of HKM into the Salzgitter Group is set to commence. The closing of the agreement and transfer of the company shares are scheduled to take place later today. 

Salzgitter AG plans to invest in an electric arc furnace in Duisburg to transform the site, make it future-proof, and reduce CO₂emissions from steel production by 90 percent over the long term. Due to economic challenges, this transition will be accompanied by a significant reduction in the number of employees. The plan is to reduce the number of people employed by HKM from the current approximately 3,000 to about 1,000 in the long term. Without these painful job cuts, Salzgitter AG would not have been able to complete the acquisition on its own. The alternative would have been to completely shut down the integrated steel mill in Duisburg. Only through this rigorous repositioning does HKM have a chance of a successful future in the long term.

“We took the time needed to negotiate with the co-shareholders to date regarding the continuation of HKM under our sole responsibility. Given the complexity of these discussions and the great significance of the outcome for the employees in Duisburg, exacting thoroughness clearly took precedence over speed in this process. "We are pleased that we have now found a satisfactory solution for all parties involved," as Gunnar Groebler, CEO of Salzgitter AG stated.

"With the acquisition of the shares held by our former co-shareholders, we are now in full responsibility at a historic steel industry site, which we aim to guide toward a sustainable future through a consistent focus on the green transition. "We would like to thank thyssenkrupp Steel and Vallourec for the constructive negotiations and the good cooperation at HKM over the past years," says Gunnar Groebler.

Marie Jaroni, CEO of thyssenkrupp Steel Europe AG: "The solution developed for HKM represents an important milestone for everyone involved. For us, it creates the conditions necessary to consistently implement our strategic realignment: By concentrating production in northern Duisburg, we are sustainably raising capacity utilization, efficiency, and profitability. At the same time, we look back with great appreciation on our shared history with HKM. "We would like to extend our special thanks to our employees for decades of partnership, as well as to our co-shareholders for their constructive contributions." HKM’s supply contract with thyssenkrupp Steel will expire at the end of 2028, rather than at the end of 2032 as previously planned.

Philippe Guillemont, Chairman of the Board of Directors and CEO of Vallourec S.A., comments: "Vallourec had previously announced its intention to sell its minority stake in HKM in order to pursue a strategy focused on Vallourec's core business and key markets. We therefore welcome the agreement announced today by Salzgitter, which fully supports this goal, while at the same time, opening up new opportunities for HKM in the production of low-emission steel."

The coming months will now be used to complete the integration of HKM into the Salzgitter Group's structures. This will be accompanied by a restructuring process – expected to be completed by the end of 2028 – that will reduce the workforce from approximately 3,000 to about 1,000, as well as a reduction in crude steel production to two million metric tons per year. "This is a difficult but necessary step. The imminent changes will be implemented in a responsible manner and, as a matter of principle, in a way that is socially compatible. The transformation can only succeed if employees and managers work together. "Dialogue with employee representatives and communication with the workforce remain a central part of the ongoing process," explains Birgit Dietze, Chief Human Resources Officer at Salzgitter AG.

Salzgitter AG will fully support the transformation of the site. Andreas Betzler, Managing Director of Mannesmann Precision Tubes GmbH, Mannesmann Grossrohr GmbH, and Mannesmann Line Pipe GmbH, is set to join the management team at HKM and report directly to the Executive Board of Salzgitter AG. Salzgitter AG will quantify the impact of the HKM acquisition on its revenue and earnings forecast for financial year 2026 when it publishes its half-year financial report on August 11, 2026.

The parties to the agreement have agreed to non-disclosure concerning the details of the agreement.   

Contact Salzgitter AG:

Thorsten Moellmann
Head of Corporate Communications and Brand
Phone + 49 5341 21 2300
E-mail: moellmann.t@salzgitter-ag.de
www.salzgitter-ag.com

Contact thyssenkrupp Steel:

Mark Stagge
Head of Public and Media Relations
Phone +49/173/5971798
E-mail: mark.stagge@thyssenkrupp-steel.com

• Catch4Climate pioneering plant officially inaugurated in Mergelstetten, Germany

• World's first industrial-scale demonstration of thyssenkrupp Polysius' Pure Oxyfuel technology for cement production

• Groundbreaking technology enables capture of up to 95% of CO₂ emissions from the clinker production process

• thyssenkrupp Calvion takes over for further development, scale-up and commercialization

• Project marks a major milestone toward decarbonizing one of the world's most carbon-intensive industries

The CI4C (Cement Innovation for Climate) Pure Oxyfuel plant in Mergelstetten (state of Baden-Württemberg) has been officially inaugurated, marking a major milestone in the decarbonization of cement production. thyssenkrupp Polysius, together with thyssenkrupp Calvion, is proud to have contributed to this landmark project in close collaboration with the CI4C consortium (Buzzi SpA / Dyckerhoff GmbH, Heidelberg Materials AG, SCHWENK Zement GmbH & Co. KG and Vicat S.A) and additional project partners. 

As part of the “catch4climate” initiative, the plant represents a research and development facility for carbon capture technologies in cement production. With a capacity of around 450 tonnes of clinker per day, the installation provides an important platform for research, validation, and further development.  

“For the first time, Pure Oxyfuel is being demonstrated at industrial scale in a cement plant. This achievement reflects the dedication, expertise and pioneering spirit of everyone involved in the project. At thyssenkrupp Polysius, we are proud to have translated a bold vision into operational reality and to contribute a technology that can help transform one of the world’s most challenging industries to decarbonize,” said Christian Myland, CEO of thyssenkrupp Polysius. 

At the core of the plant is the Pure Oxyfuel process. By replacing ambient air with pure oxygen in the clinker burning process, the technology significantly increases the CO₂ concentration in the exhaust gas, creating the conditions for capturing nearly 95% CO₂ emissions from cement production — including unavoidable process emissions from limestone calcination.  

thyssenkrupp Polysius led the overall engineering, plant design, and execution of the facility, successfully translating an innovative concept into industrial-scale reality. The Pure Oxyfuel technology developed and implemented within the “catch4climate” project will be further advanced within thyssenkrupp Calvion, ensuring continuity and focused development beyond this milestone.

With the transfer of the technology into thyssenkrupp Calvion’s portfolio, the focus is now on advancing, scaling, and commercializing Pure Oxyfuel solutions. Calvion will further develop the process to support carbon capture deployment across cement and other hard-to-abate industries. 

“This inauguration is much more than the opening of a pilot plant. It demonstrates that Pure Oxyfuel has reached industrial reality. The global cement industry has been eagerly awaiting this milestone, and we are proud that thyssenkrupp Calvion will now take the technology to the next stage — further developing, scaling and commercializing Pure Oxyfuel for customers around the world,” said Lukas Schoeneck, CEO of thyssenkrupp Calvion. 

The inauguration of the CI4C plant underlines thyssenkrupp’s commitment to driving sustainable innovation and represents an important step toward climate-neutral cement production at scale.