• 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.

• Team 212CD selected as Preferred Supplier for Canada's Canadian Patrol Submarine Project, potentially delivering twelve 212CD submarines, marking a new chapter in defence and industrial cooperation between Canada, Germany and Norway.

• Government-to-government framework will support the delivery of a modern submarine capability while establishing a sovereign Canadian sustainment enterprise.

• Partnership will strengthen national security, NATO interoperability and long-term industrial cooperation while generating lasting economic benefits across Canada.

• TKMS’s profitable growth path will be supported by an increase of the current order backlog by more than 50%, with the first boat delivered by 2033.

TKMS welcomes the Government of Canada's decision to select Team 212CD as the Preferred Supplier for the Canadian Patrol Submarine Project (CPSP) potentially delivering twelve 212CD submarines. This marks a historic milestone for Canada, Germany and Norway and the beginning of a long-term strategic partnership that will strengthen security, industrial cooperation and collective defence across the North Atlantic.

The announcement marks the start of a new chapter in defence cooperation between three close NATO allies, bringing together shared expertise and common security interests. For Canada, the decision represents a significant long-term investment in maritime security and sovereign capability. For Germany and Norway, it reflects a deepening partnership with a key ally and a shared commitment to advancing transatlantic security, technological cooperation and operational interoperability. For TKMS, the potential extension of the 212CD program beyond Germany and Norway will further support the company’s ongoing profitable growth path. The current order backlog will be supported by more than 50%.

"This is an important day - for Canada, Germany and Norway," said Oliver Burkhard, CEO at TKMS. "With the CPSP, we are proud to take on the largest single order in the history of TKMS – and with it comes a clear promise: we will deliver. The CPSP is more than a procurement program; it is the foundation of a long-term strategic partnership between trusted allies. Together with Canada, we are taking the next step as NATO partners – built on trust, shared values and a common commitment to defence. We stand ready to work alongside the Government of Canada, Canadian industry and our partners in Germany and Norway to deliver a world-class submarine capability that will strengthen security, create economic opportunity and generate lasting benefits for future generations. Last year our independence marked the beginning of a new era for TKMS. The CPSP is the next chapter of that journey. Canada will benefit from the full force of the current unique European program – the combined strength of Germany and Norway, united in purpose, and committed to delivering the very best and to create a new kind of transatlantic coalition."

Co-designed by an Arctic nation for the Arctic, as well as for the conditions of the North Atlantic and warm waters of the Pacific, the Type 212CD submarine is built for the North, not simply adapted to it. It is in the Arctic where Canada and its NATO allies increasingly need credible deterrence and presence.

Dr. Volkmar Dinstuhl, Chairman of the Supervisory Board at TKMS: “Canada’s trust in Team 212CD is testament to TKMS’s international competitiveness. This is a very important demonstration of NATO’s capacity to act and the capabilities of the German and European defence industries. The fact that Canada is committing to a joint submarine capability with the 212CD together with Germany and Norway underlines the strong and trustful security and industrial cooperation between close allies. With this decision, TKMS confirms its role as a reliable strategic partner for maritime security worldwide. A good day for Canada, Germany and Norway. A good day for TKMS as a leading maritime powerhouse."

The partnership will contribute to the development of a sovereign Canadian sustainment enterprise, support workforce development and skills transfer, strengthen domestic supply chains and create opportunities for Canadian businesses to participate in a broader international defence ecosystem over time. The final proposal will generate CAD 167 billion in total economic activity across Canada, deliver over CAD 86 billion in economic impact, and over 650,000 job-years across Canada during the life of the project. Thus, the partnership will not only deepen our joint defense cooperation, but also open up a new dimension of industrial collaboration.

"Canada's decision in favour of Team 212CD is a tremendous success for TKMS – and a powerful validation of our strategy. With the spin-off of TKMS, we laid the foundation for the company to unfold its full potential as an independent champion in the international naval business. Today's announcement proves that this was the right path. We are convinced that this trilateral partnership between Canada, Germany and Norway will create lasting value – for TKMS, for our shareholders and for the transatlantic security architecture. thyssenkrupp stands firmly by TKMS's side as the company takes this important step," said Miguel López, CEO of thyssenkrupp AG.

TKMS thanks all employees and teams involved for their tireless efforts, its Canadian Partners, and the Governments of Germany and Norway for their strong support and the significant contribution they made throughout the competition. We look forward to continuing our successful partnership. As the program enters its next phase, TKMS will work closely with the Government of Canada, Germany, Norway and Canadian industry partners to advance contract negotiations, industrial planning, workforce development and implementation activities. TKMS expects to deliver the first 212CD submarine by 2033.

More information at: www.team212cd.ca

• GlobalLogic and thyssenkrupp agree to a strategic partnership to deploy autonomous robotics and Physical AI across global heavy industry operations.

• Four-way alliance between thyssenkrupp, GlobalLogic, Method, a GlobalLogic company, and Hitachi America R&D creates first "Lab-to-Scale" Physical AI pipeline for heavy industry and serves as a global model for the mutual exchange of cutting-edge expertise.

• Physical AI solutions designed to eliminate engineering bottlenecks, protect frontline workers, and accelerate green energy project delivery at scale.

thyssenkrupp AG and GlobalLogic Inc., a Hitachi Group Company, announced the commencement of a strategic alliance today, designed to recalibrate the operational core of heavy industry by driving the deployment of autonomous robotics and Physical AI.

This alliance combines thyssenkrupp’s deep industrial and operational expertise with Hitachi’s unique end-to-end innovation stack to help accelerate digital transformation across the industry. This "Lab-to-Scale" pipeline integrates foundational breakthroughs from Hitachi America R&D, digital strategy and design from Method as well as enterprise-grade software engineering from GlobalLogic. The pipeline connects on-site data seamlessly to AI-driven autonomous control, thereby eliminating engineering bottlenecks and enhancing operational safety, while establishing a leading-edge global model for the heavy industry sector.

Moving beyond digital experimentation, the two global conglomerates are planning to co-create a suite of "Physical AI" solutions that translate complex data into measurable industrial ROI. The solutions will focus on safety, servitization, and acceleration of the global energy transition.

Realizing the "Implementation Year"

The partnership focuses on high-stakes, frontier innovation across two primary workstreams:

1. The Data Intelligence Layer and Autonomous Operations: To bridge the gap between factory floor operations and business logic, GlobalLogic will deploy a data intelligence layer for thyssenkrupp based on its Unified Data Layer (UDL) architecture. The UDL provides a common data and semantic foundation that integrates and links operational technology (OT) data from the field with IT data from business operations. It is an essential technology for ensuring the smooth operation of autonomous robotics and drones that require real-time data processing, semantic understanding, and AI-driven decision-making. This infrastructure serves as the prerequisite for a new generation of autonomous robotics and drones. In the hazardous environments and production sites of thyssenkrupp, autonomous "Robocams" and drones are to be deployed to handle high-risk inspections and precision measurements to prevent worker injuries. Designed to enhance safety and efficiency, these systems augment the workforce by removing employees from dangerous zones and providing them with higher-fidelity data to manage complex industrial processes.
   

2.  Speed to Decarbonization: Meeting ambitious decarbonization targets requires a significant increase in engineering speed. The alliance is planning to deploy an intelligence platform to automate the capture of "offline" and unstructured complex technical data. By translating complex documentation into actionable intelligence, thyssenkrupp aims to shorten the "Quote-to-Cash" and technical engineering cycles for its green energy projects. This digital acceleration will ensure that the administrative and technical complexity of the energy transition does not become a bottleneck for execution.

“thyssenkrupp is in the midst of its most significant transformation in history. By joining forces with Hitachi and GlobalLogic, we are ensuring that we are backed by the world's most advanced digital capabilities. This alliance is a cornerstone of our strategy to lead the industrial sector into a sustainable, data-driven future,” says Miguel López, CEO of thyssenkrupp AG and thyssenkrupp Decarbon Technologies. “Decarbonizing heavy industry is a race against time. The integration of advanced AI allows us to better manage the immense technical and administrative complexity of the energy transition, moving from unstructured documentation to actionable intelligence at a pace that was previously impossible.” 

"The future will be defined by organizations that can seamlessly harness the power of advanced AI, edge computing, data and inference, and combine it with deep industrial expertise." said Srini Shankar, President & CEO of GlobalLogic and CEO of Hitachi Digital Services. "Our extensive credentials in Physical AI, from servitization to industrial automation to operations intelligence, will complement thyssenkrupp's leadership in heavy engineering to create a lasting competitive advantage."

Nadja Håkansson, COO of thyssenkrupp Decarbon Technologies and CEO of thyssenkrupp Uhde: “Physical AI marks the next step in industrial transformation – bringing intelligence from the digital world into real-world operations. By enabling machines to sense, decide, and act autonomously, it unlocks entirely new levels of efficiency, safety, and scalability. For thyssenkrupp Decarbon Technologies, physical AI is not just an innovation topic, but a core driver of our future business and our ability to deliver sustainable, high-performance solutions. Our collaboration with Hitachi accelerates this path and strengthens our leadership in next-generation industrial technologies.”

Timothy Morey, Head of Method, a GlobalLogic company: "Real innovation happens at the intersection of empathy and engineering. We are bringing together brilliant minds from all involved organizations to de-risk these complex industrial transformations, ensuring that technology always serves the people on the front lines of global industry.

About thyssenkrupp
thyssenkrupp is an international industrial and technology group with more than 93,000 employees. In the fiscal year 2024/2025, the company generated sales of around €33 billion in 48 countries. Its business activities are bundled in five segments: Automotive Technology, Decarbon Technologies, Materials Services, Steel Europe and Marine Systems. With extensive technological know-how, outstanding engineering competence and a high level of innovative strength, the group is a technology leader in many of its markets, developing solutions for the challenges of the future. Around 3,900 employees work in research and development worldwide. They are mainly focused on climate protection and the energy transition, the digital transformation in industry and the mobility of the future. The patent portfolio of thyssenkrupp currently includes approximately 17,000 patents and utility models, underlining the Group's leading position in technology and innovation. thyssenkrupp is pursuing ambitious climate protection targets and actively optimizing its own energy and climate efficiency. At the same time, the Group is supporting its customers and industry partners to help in achieving their climate targets, thus playing a key role in advancing the green transformation. www.thyssenkrupp.com

About Hitachi, Ltd.
Through its Social Innovation Business (SIB) that brings together IT, OT (Operational Technology) and products, Hitachi aims to be a global leader in continuously transforming social infrastructure through digital, contributing to a harmonized society where the environment, wellbeing, and economic growth are in balance. Hitachi operates worldwide across four sectors – Digital Systems & Services, Energy, Mobility, and Connective Industries – as well as a Strategic SIB Business Unit focused on new growth areas. With Lumada at its core, Hitachi creates value by combining data, technology and domain knowledge to solve customer and social challenges. Revenues for FY2025 (ended March 31, 2026) totaled 10,586.7 billion yen, with 606 consolidated subsidiaries and approximately 290,000 employees worldwide. www.hitachi.com.

About GlobalLogic
GlobalLogic, a Hitachi Group Company, is a leading digital engineering partner that helps the world’s most forward-thinking companies design and build innovative, AI-powered products, platforms, and digital experiences. Since 2000, we’ve been at the forefront of the digital revolution, now accelerating clients’ transitions into tomorrow’s AI-driven businesses by integrating experience design, complex engineering, AI, and data expertise. Headquartered in Silicon Valley, GlobalLogic is a Hitachi Group Company operating under Hitachi, Ltd. (TSE: 6501), which contributes to a sustainable society with a higher quality of life by driving innovation through AI and technology as the Social Innovation Business. www.GlobalLogic.com

Method Inc., the digital product consulting arm of GlobalLogic Inc., was founded in 1999 and pioneered the field of experience design. Its strategists, designers, and engineers simplify the complex, crafting experiences that improve lives and transform businesses through enterprise scale and concierge service. www.method.com

Media contacts

thyssenkrupp AG Communications

Frank Grodzki
Head of Communications                              
Phone: +49 (1522) 1830 826                       
Email to: press@thyssenkrupp.com

Leif Erichsen
Head of External Communications & Governmental Affairs
Phone: +49 (1520) 806-5511
Email to: press@thyssenkrupp.com

GlobalLogic

Amanda Naiman
Head of Communications
amanda.naiman@globallogic.com

Essen, June 16, 2026 – The Supervisory Board of thyssenkrupp AG today approved the Executive Board’s plans to establish tk accelis (formerly thyssenkrupp Materials Services) as an independent company. The segment is to be set up as an independent company by way of a spin-off and listed on the stock exchange. The plans involve transferring a 49 percent minority interest to the shareholders of thyssenkrupp AG in proportion to their interest in thyssenkrupp AG and listing the shares on the Frankfurt Stock Exchange. The spin-off requires the approval of an Extraordinary General Meeting, which is expected to be convened on August 7, 2026.

Prof. Siegfried Russwurm, Chairman of the Supervisory Board of thyssenkrupp AG, states:
“The spin-off of tk accelis is another important milestone in the ACES 2030 future model. Following the successful stock market listing of TKMS last year, thyssenkrupp is consistently continuing its strategic realignment through this move. At the Extraordinary General Meeting, we will ask the shareholders of thyssenkrupp AG to decide on this next step. The aim of the transformation is to create strong and independent companies that can successfully operate under the umbrella of thyssenkrupp AG as a financial holding company.“  

Miguel López, CEO of thyssenkrupp AG, states:
“tk accelis has made impressive progress in recent years. CEO Ilse Henne and her team are systematically positioning the company as a fully integrated materials distributor and powerful supply chain service provider – with a digital offering, wide coverage, and a clear growth strategy. Now is the right time to take the next step and establish tk accelis as an independent company.“ 

tk accelis emerged on the market under the new brand just a few days ago – a visible significant milestone on the path toward independence. With its “Materials-as-a-Service” business model, tk accelis offers its customers an integrated range of services from materials distribution and trading, customized processing, and data-driven supply chain management. The company benefits from a strong position in fast-growing industries such as aviation, defense, and data centers. With 15,500 employees, around 250,000 customers worldwide, and sales of €11.4 billion in fiscal year 2024/25, tk accelis has a strong operating base for its next step toward the capital markets.

If the General Meeting approves the resolution, thyssenkrupp AG will retain a majority stake even after the spin-off. tk accelis would then remain a fully consolidated company within the thyssenkrupp Group.

• Brand identity underscores the transformation from materials distributor to supply chain service provider

• Company purpose: “Moving industries – from source to success”

• New brand supports company’s path to becoming an independent entity in line with thyssenkrupp AG’s ACES 2030 strategy

thyssenkrupp Materials Services, a leading global materials distributor and supply chain service provider, today unveiled its new brand name. Effective immediately, the company will operate under the name tk accelis. The new brand highlights the company’s transformation from a pure materials distributor to a supply chain service provider. Furthermore, the new brand supports the company’s path to becoming an independent company in line with thyssenkrupp AG’s ACES 2030 strategy program.

Ilse Henne, CEO of tk accelis: “The new brand embodies what we stand for: speed, reliability, and seamless processes along global supply chains. We want to ensure that materials move. From procurement and distribution through processing and manufacturing, all the way to data-driven supply chain management. In times of growing complexity, we understand and solve our customers’ challenges so they can focus on their core business. We want to accelerate their success by making supply chain networks their strongest assets.”

“From source to success” – integrated solutions across the entire supply chain

The new brand name derives from “accelerate” and “access”, conveying swift delivery and process efficiency as well as the availability of materials and services. The brand name and the company’s purpose, “Moving industries – from source to success,” underscore tk accelis’ ambition: to view materials, services, and digital solutions as an integrated offering that specifically accelerates customers’ business success. tk accelis offers its customers comprehensive products and services in three areas of activity:

• Materials: The distribution and international trading business features a strong network in Europe and North America. With a broad product portfolio and a global supplier network, the business unit supports reliable materials supply and local-for-local availability, complemented by manufacturing and pre-processing services like cutting or drilling.

• Processing: The service centers in Europe and North America offer strong capabilities for customized processing of materials such as steel and aluminum. In addition to precision processing, they also provide supporting data to increase efficiency and transparency in the supply chain.

• Solutions: The global supply chain business offers comprehensive solutions for supply chain management. The portfolio ranges from logistics solutions (third-party logistics (3PL) and fourth-party logistics (4PL)) and the orchestration of entire supply chain ecosystems to a growing portfolio of data-driven and AI-enhanced digital solutions designed to increase supply chain flexibility, transparency, and resilience. The constant goal is: Managing complexity for customers and ensuring that every part arrives when and where it is needed.

tk accelis refers to this integrated approach and its own strategy as “Materials-as-a-Service.” As an early adopter in digital supply chain solutions, tk accelis is capitalizing on growth opportunities arising from industry trends such as nearshoring, outsourcing, and digitalization. In doing so, tk accelis benefits from its strong position in rapidly growing customer industries such as aerospace, data centers, industrial electrification, and defense. The increasing focus on services is supporting the company’s financial resilience in times of challenging economic environments and volatile material prices: In the second quarter of the current fiscal year 2025/26 (January-March) and according to thyssenkrupp AG’s segment reporting, tk accelis achieved sales of €3.2bn (+5%) and operating profit (Adjusted EBIT) of €81m (+179%).

On the path to becoming an independent entity 

With its new brand identity, tk accelis is also supporting its path to becoming an independent company in line with thyssenkrupp AG’s ACES 2030 strategy program. This includes the target of achieving capital market readiness.

“Our new name tk accelis supports our preparations towards capital market readiness,” continues Ilse Henne. “With our new brand identity, we will be even more visible to our customers as a mill-independent partner and gain a distinct, independent profile.”

About tk accelis
tk accelis is a global leader in materials distribution and services across the entire supply chain. tk accelis combines three fields of activity in a seamless offering: materials distribution & trading, customized processing, and supply chain management. With a growing range of data-driven services, tk accelis is consistently driving the digitalization of supply chains. The company calls this integrated approach "Materials as a Service". Around 15,500 employees serve more than 250,000 customers from around 380 locations in the core markets of Europe and North America. In fiscal year 2024/25 and according to thyssenkrupp AG’s segment reporting, tk accelis generated total sales of €11.4 billion. For more information visit: www.tkaccelis.com

Images and the new logo are available for download at the following link: https://transfer.thyssenkrupp.com/public/v158382y_ac0a800accf8f175bf6012/

• Transaction related to sale of AST fully completed

• Arvedi becomes sole owner of AST

• High double‑digit million euro cash inflow strengthens liquidity

thyssenkrupp today sold its remaining 15-percent stake in Acciai Speciali Terni S.p.A. (AST) to the Italian Arvedi Group. This marks the final completion of the transaction agreed upon in 2021 regarding the sale of the stainless steel plant in Terni, Italy, including the associated sales organization in Germany, Italy, and Turkey.

The completion of the transaction means that AST is now fully owned by Arvedi. The investment was retained as part of the sale back in 2021 in order to strengthen the existing operational cooperation with the new owner during a transition phase. The cash inflow from the transaction totals a high double‑digit million euro figure and contributes to further strengthening thyssenkrupp’s liquidity.

Volkmar Dinstuhl, member of the Executive Board of thyssenkrupp AG: “With the completion of the sale, we are concluding the transaction as planned and also taking a step forward in further streamlining and focusing our portfolio. At the same time, we are creating additional financial flexibility to further implement our strategic alignment.”

thyssenkrupp is consistently driving forward its strategic realignment. 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.

• Workforce adjustments to affect development-related functions

• Global business support functions in Budapest to be expanded

• International test center for springs and stabilizers to be established in Debrecen

• The measures are part of the broader transformation program announced last year for the Automotive Technology segment

thyssenkrupp Automotive Technology is realigning its activities in Hungary as part of the ongoing transformation of its international automotive business. As part of this process, approximately 200 positions in development-related functions are expected to be affected. At the same time, the company plans to create around 60 new positions in globally focused business support functions at its Budapest location. In addition, an international test center for springs and stabilizers will be established at the Debrecen site. thyssenkrupp Automotive Technology currently employs around 3,000 people in Hungary.

These measures form part of the ongoing strategic repositioning of thyssenkrupp Automotive Technology. In response to changing customer requirements, volatile demand patterns and continued cost pressure, the segment is strengthening its customer and technology focus, consolidating activities and bringing support functions together more effectively. The objective is to enhance competitiveness, enable profitable growth and further advance the business’s capital market readiness.

"With the planned measures, we are adapting our structures and capacities to the expected business outlook while consistently aligning our activities with the future needs of our customers," says Viktor Molnar, COO of thyssenkrupp Automotive Technology. " Hungary will remain an important location for thyssenkrupp Automotive Technology, with strong capabilities in engineering, manufacturing and global business support functions."

The planned workforce adjustments affect only the company's development center in Hungary. Implementation will take place in compliance with all applicable legal and operational requirements and in close consultation with employee representatives and the relevant authorities.

The R&D Competence Center in Budapest is an important part of thyssenkrupp Automotive Technology’s global development network. The site has extensive expertise in developing software and hardware solutions for electric and electromechanical steering systems, including solutions used in the context of driver assistance functions and automated driving.

Its role is being further strengthened through the expansion of new capabilities, such as an accredited in-house test laboratory for electronic components and systems, as well as partnerships with Hungarian universities.

In addition to its development activities, thyssenkrupp Automotive Technology operates several manufacturing and assembly sites in Hungary. In Jászfényszaru, the company produces electromechanical steering systems, camshafts and components for electric vehicles, among other products. At its Debrecen site, thyssenkrupp produces stabilizers and springs. Going forward, the site will also be home to an international test center for springs and stabilizers. In Győr, thyssenkrupp operates an axle assembly facility.

• Affected chassis activities to be realigned with a focus on thyssenkrupp Bilstein of America, Inc. in Hamilton, Ohio

• North America remains an important market and production region for thyssenkrupp Automotive Technology

thyssenkrupp Presta North America, LLC, part of the thyssenkrupp Automotive Technology segment, plans to close its production site in Terre Haute, Indiana, by March 31, 2027. As part of the planned closure, the affected U.S. production activities in the chassis business are expected to be reorganized going forward, with a focus on the Hamilton, Ohio, facility. The planned measure is part of the segment’s ongoing transformation and is intended to make its North American business more competitive over the long term in response to changing market and customer requirements. Until the planned closure, the site is expected to be phased down in an orderly manner, while ensuring customer supply throughout the transition period. The Terre Haute site currently employs around 230 people.

“The planned adjustment of our U.S. production network is an important step toward strengthening the long-term competitiveness of our North American business,” said Viktor Molnar, COO of thyssenkrupp Automotive Technology. “The automotive industry is undergoing profound change. Customer requirements, volume developments and cost structures call for leaner, more focused and more efficient production structures. By realigning the affected chassis activities with a focus on Hamilton, we aim to simplify our U.S. footprint in this area, deploy resources more effectively and create a stronger operational foundation for existing and future customer programs.”

thyssenkrupp Automotive Technology is undergoing a comprehensive transformation. The objective is to align the segment’s global setup more closely with profitable growth, greater operational performance and clearer structures. This also includes regularly reviewing production networks and adapting them to changing market, cost and customer requirements.

“We recognize that the planned closure represents a significant change for the employees in Terre Haute and for the local community,” said Yashar Kazemi, President of thyssenkrupp Presta North America, LLC. “The site and its employees have made an important contribution to our business and our customers over many years. Our focus now is on managing the next steps in an orderly and responsible manner and in line with applicable requirements.”

North America remains an important market and production region for thyssenkrupp Automotive Technology. In fiscal year 2024/2025, the segment generated sales of around €2.1 billion in the region and supplied nearly all major automotive manufacturers and commercial vehicle customers.

The Terre Haute and Hamilton sites manufacture products for the chassis business of thyssenkrupp Automotive Technology: Terre Haute has produced steering components, while Hamilton focuses on shock absorber systems. By realigning the affected chassis activities with a focus on Hamilton, the company aims to create a clearer U.S. setup in this area, reduce interfaces and establish a sustainable long-term basis for existing and future customer programs. As part of this approach, the Hamilton site is expected to be further developed as a focused U.S. production base and selectively strengthened through targeted staffing measures.

• 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.