{"id":24660,"date":"2026-05-27T07:27:31","date_gmt":"2026-05-27T07:27:31","guid":{"rendered":"https:\/\/www.europesays.com\/germany\/24660\/"},"modified":"2026-05-27T07:27:31","modified_gmt":"2026-05-27T07:27:31","slug":"thyssenkrupp-ag-tkamy-q4-2025-earnings-call-highlights-navigating-market-challenges-with","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/germany\/24660\/","title":{"rendered":"thyssenkrupp AG (TKAMY) Q4 2025 Earnings Call Highlights: Navigating Market Challenges with …"},"content":{"rendered":"\n

This article first appeared on GuruFocus<\/a>.<\/p>\n

Sales Decline: EUR 2.2 billion decrease, around -6% for the fiscal year.<\/p>\n

EBIT Adjusted: EUR 640 million, an increase of EUR 72 million year-over-year.<\/p>\n

Net Income: EUR 532 million, with a significant fourth-quarter contribution of EUR 653 million.<\/p>\n

Free Cash Flow Before M&A: EUR 363 million, an increase of EUR 253 million year-over-year.<\/p>\n

Net Cash Position: Almost EUR 5 billion.<\/p>\n

Automotive Technology Sales: Decline of 7% year-over-year.<\/p>\n

Decarbon Technologies Sales: Decline of 10% for the fiscal year.<\/p>\n

Materials Sales: Fell by 6% with lower shipment volumes.<\/p>\n

Steel Europe Sales: Decreased by 9%, with shipments down by 6%.<\/p>\n

Marine Systems Backlog: Record level of EUR 18.2 billion.<\/p>\n

Outlook for FY ’25\/’26: Sales increase up to 1%, EBIT adjusted up to EUR 900 million, and free cash flow before M&A expected between -EUR 600 million to EUR 300 million.<\/p>\n

Release Date: December 09, 2025<\/p>\n

For the complete transcript of the earnings call, please refer to the full earnings call transcript<\/a>.<\/p>\n

Positive Points <\/p>\n

thyssenkrupp AG (TKAMY<\/a>) successfully listed TKMS by a spin-off on the stock exchange, unlocking significant value for shareholders.<\/p>\n

The company reported a strong fourth quarter with an EBIT adjusted of EUR 274 million, leading to a financial year figure of EUR 640 million, an increase of EUR 72 million year-over-year.<\/p>\n

thyssenkrupp AG (TKAMY<\/a>) achieved a positive net income of EUR 532 million, benefiting from elevator valuation effects.<\/p>\n

The company maintained a positive free cash flow before M&A for the third consecutive year, amounting to EUR 363 million.<\/p>\n

thyssenkrupp AG (TKAMY<\/a>) is realigning its group structure to increase accountability and transparency, aiming to transform into a financial holding company with strong independent entities.<\/p>\n

Negative Points <\/p>\n

thyssenkrupp AG (TKAMY<\/a>) faced persistent market headwinds, with a sales decline of around 6% over the fiscal year.<\/p>\n

The company experienced weak demand across most customer groups and regions, particularly impacting the automotive and steel sectors.<\/p>\n

Despite restructuring efforts, the Automotive Technology segment saw a decline in sales by 7% year-over-year.<\/p>\n

The company anticipates a negative free cash flow before M&A in the range of minus EUR 600 million to EUR 300 million for the next fiscal year.<\/p>\n

thyssenkrupp AG (TKAMY<\/a>) is facing ongoing restructuring challenges, particularly in the Steel Europe division, with potential further impairments not excluded.<\/p>\n

Story Continues <\/p>\n

Q & A Highlights <\/p>\n

Q: Can you explain the cautious guidance for Steel Europe’s EBIT adjusted, which is expected to be lower than last year’s EUR337 million? A: The guidance reflects the absence of positive one-offs from the previous year, estimated between EUR100 million and EUR150 million. The CBAM is seen as an opportunity beyond the current guidance.<\/p>\n

Q: What are the key topics and obstacles in the negotiations with Jindal Steel regarding the potential sale of thyssenkrupp’s steel business? A: The due diligence phase is ongoing and progressing as expected, with no major roadblocks. However, precise timing for an agreement is difficult to predict.<\/p>\n

Q: Is there any truth to the reports that Salzgitter might operate HKM independently, and will thyssenkrupp need to provide funds for this? A: thyssenkrupp does not need HKM’s capacity in the future and is open to constructive talks with Salzgitter. The restructuring provisions already account for this scenario, so no additional provisions are expected at this time.<\/p>\n

Q: Can you provide insights into the performance and future of the Automotive Engineering business, and are there any significant one-offs to consider for the first quarter? A: The divestment of Automation Engineering indicates it was not a strong performer. Restructuring provisions will be significant one-offs, impacting net income negatively.<\/p>\n

Q: What is the outlook for demand in thyssenkrupp’s Decarbon Technologies and Plant Engineering units? A: Final Investment Decisions (FIDs) are being made cautiously, but a full project pipeline suggests potential realizations in the next 12 to 24 months. The focus remains on being competitive and ready for execution.<\/p>\n

For the complete transcript of the earnings call, please refer to the full earnings call transcript<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"This article first appeared on GuruFocus. Sales Decline: EUR 2.2 billion decrease, around -6% for the fiscal year.…\n","protected":false},"author":2,"featured_media":24661,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21243],"tags":[21990,25926,21987,21282,25924,25925,25923,21276,21285],"class_list":["post-24660","post","type-post","status-publish","format-standard","has-post-thumbnail","category-thyssenkrupp","tag-automotive-technology","tag-decarbon-technologies-sales","tag-ebit","tag-free-cash-flow","tag-sales-decline","tag-sales-increase","tag-steel-europe","tag-thyssenkrupp","tag-thyssenkrupp-ag"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/24660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=24660"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/24660\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/24661"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=24660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=24660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=24660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}