Overview
- The net loss was driven by €401 million in restructuring costs at Steel Europe, with management signaling several hundred million euros more in provisions this year.
- Negotiations to sell the steel business to Jindal Steel International are described as constructive and protracted, and any potential deal is not included in the outlook.
- Underlying profit excluding steel special items rose 10% to €211 million on revenue of €7.2 billion, which fell 8% year over year.
- Under the ACES 2030 program, the board’s target model would turn Thyssenkrupp AG into a lean finance holding of about 50 FTE and shift roughly 25% of central activities into segments in 2026 through internal postings.
- The works council expressed great concern and criticized the internal-application process, while management aims to conclude a social-plan agreement by May 2026 with up to 11,000 steel jobs slated for cuts or outsourcing over the coming years.