FY 2024 / 2025 forecast

The forecast for 2024 / 2025 is based on the current composition of the group. It does not take account of the effects of potential portfolio and restructuring measures, especially those in connection with a possible stand-alone solution for Steel Europe. The expected economic conditions and the main assumptions on which our forecast is based can be found in the section headed
“Macro and sector environment” in the “Report on the economic position.” For the corresponding opportunities and risks see the “Opportunity and risk report,” which follows this section.

We expect the market environment to remain challenging overall, for example due to uncertainties about future global economic growth. The development of our key performance indicators could therefore be exposed to corresponding fluctuations.

In light of the expected economic conditions as of the date of this forecast and the underlying assumptions, we consider the following view on fiscal year 2024 / 2025 to be appropriate. Compared with the previous forecast in the Interim Report for the 1st half of 2024 / 2025, the expectations for the group have been amended as follows:

■  Sales are now expected in a range between (7)% and (5)% compared with the prior year (previously: (3)% to 0% compared with the prior year). This is mainly due to demand- and price-induced adjustments at Materials Services and Steel Europe, as well as demand-related adjustments at Automotive Technology. The adjustment at Marine Systems resulted from clarifying the allocation of contractual obligations for long-term orders.

■  Adjusted EBIT is now expected at the lower end of the range of €600 million to €1,000 million (previously: between €600 million and €1,000 million), mainly due to adjusted sales expectations.

■  In response to this, 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).

For further information on the expected development of our key performance indicators, please refer to the “Forecast, opportunity and risk report” in the Annual Report 2023 / 2024, in the interim report on the 1st quarter of 2024 / 2025 and in the interim report for the 1st half of 2024 / 2025.

_{Source: thyssenkrupp interim report 9 months 2024/2025, page 23-24}