| thyssenkrupp AG (DE0007500001) | |||
8,52 EURStand (close): 01.07.25 |
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| Datum / Uhrzeit | Titel | Bewertung |
| 28.06.25 23:00:00 | Europe Wants Green Steel but Can’t Afford It |  |
| The European Union has pledged billions in rearmament spending. It also just pledged billions in higher NATO spending. Steel is a crucial part of the rearmament drive. Without it, you can’t build tanks and make weapons. But Europe does not just want any steel—it wants it green. And green steel is so expensive, companies are walking away from green steel projects in droves. This week saw one of the world’s largest steelmakers, ArcelorMittal, ditch its plans for the conversion of two plants in Germany to green hydrogen as an energy source because the costs were exorbitant. Importantly, the German government had promised the steelmaker $1.5 billion in subsidies for the conversion projects. Still, they turned out to be too expensive. Germany’s ThyssenKrupp, meanwhile, is sticking with its green steel plans, although it noted the “crisis” in the industry. At the same time, ThyssenKrupp is laying off 40% of its workforce and slashing production capacity by a quarter, the Financial Times reported at the end of 2024. “The first electric arc forges are being built in countries that can offer competitive and predictable electricity provision,” ArcelorMittal said, as quoted by Reuters. “Electricity prices in Germany are high both by international standards and compared to neighbouring countries.” There are two ways to decarbonize steelmaking, which is an important point on the EU’s net-zero agenda. One way is hydrogen, and more specifically, green hydrogen, produced through electrolysis, enabled by wind and solar power. The other way is swapping blast furnaces fueled by coal to electric arc furnaces, fueled by, once again, wind and solar. Those electric arc forges that ArcelorMittal was referring to are being built in nuclear-heavy France. Because nuclear is cheap and reliable. Wind and solar appear to be the opposite of that. Related: All Eyes on Fundamentals as Geopolitical Risk in Oil Evaporates So-called green hydrogen is several times costlier than any other variety. The reason is that electrolysis is, somewhat ironically, an energy-intensive process that uses electricity generated by wind or solar installations to split water molecules. Despite its net-zero desirability, the process cannot violate the fundamental laws of physics, meaning that the end product, in terms of energy, is considerably smaller in volume than the amount of energy expended on producing it—which is why green hydrogen’s cost is unlikely to come down anytime soon. It is that cost that is sapping industrial appetite for making the switch from hydrocarbons to green hydrogen. Story Continues “The business case for green steel is not there in Europe,” the head of Eurofer, the EU’s steel industry association, told the Financial Times. Some still had hopes for the future, Alex Eggert noted, but others had given up with “I don’t have time for this.” Europe itself does not really have time for this. Europe has stated quite clearly it plans to build a lot of things that require steel to replenish its depleted reserves after sending most of its inventory to Ukraine. And it needs to do that fast, based on its own claim that Russia is about to invade. But at the same time, Europe wants to do its rearmament in a green way—which is at odds with the need for speed. The problem becomes even bigger in the context of broader steel production. Steel is not only essential for weapons production. It is essential in construction, too, and a myriad other industries that feature the construction of something or other, up to and including wind turbine installation. Europe, then, needs a lot of steel—and it wants to reduce its import dependence by producing more of it locally, but also cheaply. Once again, the EU is trying to do two mutually exclusive things at the same time. The cost of electricity in the countries with the highest portion of wind and solar in their energy mix should proof enough that the transition is anything but cheap, and yet this fact continues to be overlooked in favor of ever more subsidy commitments and claims that ultimately this low-carbon energy will become cheap. The steel industry clearly does not have time to wait for this to happen. The steel industry is prioritizing energy affordability over emission footprints. Because the steel industry has realized that there is no other way to survive, especially with cheap, emission-heavy imports from China flooding the market. The EU introduced the carbon border adjustment mechanism to stem that flood. In fact, it introduced the carbon border adjustment mechanism to stem the flood of all sorts of cheap imports that undermine the competitiveness of European products—because of high energy costs. The EU is using CBAM to treat a symptom, and not the root cause of the energy cost disease. That root cause is the urgent transition. “In the end, we will also have to discuss how quickly the transformation can take place, because the speed largely determines the cost,” RWE’s Markus Krebber said this week, as quoted by the FT. It was this speed that prompted the conversion of 40% of Europe’s steelmaking capacity to electric arc furnaces. It was this speed, and the lack of any desire for long-term planning that prompted talk about green hydrogen as replacement for coal. Now, the jig is up. Europe must decide between rearming and net zero. By Irina Slav for Oilprice.com More Top Reads From Oilprice.com The Permian Basin is Fueling America's Electric Future U.S. Sits on Billions of Untapped Oil Barrels UK Scraps $34 Billion Morocco-Linked Subsea Power Cable Megaproject Read this article on OilPrice.com View Comments |
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| 20.06.25 13:28:06 | Thyssenkrupp CEO gets new contract to speed up turnaround | |
| By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp gave CEO Miguel Lopez a new five-year contract on Friday to continue an overhaul of the struggling conglomerate, averting a leadership crisis after powerful union representatives had opposed his re-election earlier this week. Lopez took over two years ago and has overseen significant steps in Thyssenkrupp's turnaround, including the listing of its hydrogen division as well as the sale of a 20% stake in its flagship steel unit. His approach has drawn fierce opposition from IG Metall, Germany's biggest trade union, which has accused Lopez of keeping it out of the loop on key decisions and ignoring its concerns about restructuring moves. Juergen Kerner, IG Metall's vice chief and Thyssenkrupp's deputy chairman, earlier this week announced opposition to Lopez's re-election, citing "fundamental distrust" and failure to deliver a promised overhaul of Thyssenkrupp's steel unit. Lopez's contract extension until May 2031 went through without a casting vote by the group's Chairman Siegfried Russwurm, which counts twice when the 20-member supervisory board arrives at a stalemate, two sources familiar with the matter said. "The group is undergoing a challenging and urgently needed transformation process, in which reliability, leadership and clear priorities are of the essence," Russwurm said following a meeting of the board on Friday. "The extension of Miguel Lopez's contract is an expression of our confidence in his leadership and our conviction that clear orientation and continuity along the chosen path are crucial to the further progress and future of Thyssenkrupp." The Alfried Krupp von Bohlen und Halbach Foundation, Thyssenkrupp's biggest shareholder with a 21% stake, welcomed the contract extension, saying stability was decisive in the current environment. Thyssenkrupp shares closed 4.2% higher. Kerner on Friday confirmed he had voted against the re-election, reiterating his criticism of Lopez who, he said, had to earn an extension by delivering on his promises. Lopez, in an internal message seen by Reuters, said it was understandable that Thyssenkrupp's transformation process was triggering fears and different views, still saying the overhaul required speed and determination. Thyssenkrupp also said shareholders would be voting on the planned spin-off of a 49% stake in its warship unit Thyssenkrupp Marine Systems (TKMS) at an extraordinary general meeting on August 8, confirming that a separate listing was planned to take place by the end of the year. Story Continues TKMS, which makes submarines, frigates as well as sensor and mine-hunting technology, has been benefiting from a broader surge in defence stocks, boosted by higher military spending in Europe amid fears of dwindling U.S. support. (Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Friederike Heine, Rachel More and David Evans) View Comments |
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| 18.06.25 08:47:01 | Exclusive-Thyssenkrupp deputy chairman to vote against new CEO contract over 'fundamental mistrust' | |
| By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp's deputy chairman will vote against the contract extension of CEO Miguel Lopez at a board meeting on Friday, saying he had not delivered a promised turnaround of the steel unit after selling a stake to billionaire Daniel Kretinsky. The comments by Juergen Kerner, one of Germany's most influential labour representatives, mark a major escalation in the conflict between management and workers over the German conglomerate's restructuring, most notably its iconic steel division, which the group has sought to divest for years. Thyssenkrupp's supervisory board will convene on Friday to vote on a planned spin-off of its warship division TKMS as well as a new contract for Lopez, who took over two years ago, sources said last week. Kerner warned of massive resistance if Lopez's contract extension went through against the will of worker representatives, which can only happen via a decisive vote by chairman and former Siemens manager Siegfried Russwurm. Kerner, deputy chief of Germany's biggest union IG Metall, who also sits on the supervisory boards of Siemens, Siemens Energy and Traton, told Reuters that while he and Lopez had established a working relationship, "we now have a fundamental mistrust on both sides". He said workers could use the means at their disposal, including strike action, going forward unless Thyssenkrupp was able to draw up a convincing future plan for the steel division and sufficient funding, which he described as red lines. (Reporting by Christoph Steitz and Tom Kaeckenhoff, Editing by Miranda Murray) View Comments |
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| 07.05.25 13:04:40 | Thyssenkrupp steel unit, union reach general agreement on restructuring | |
| FRANKFURT (Reuters) -Thyssenkrupp's steel unit said on Wednesday that it has reached an agreement in principle with the IG Metall union around the planned restructuring of Germany's largest steel maker, adding its aim was to avoid forced layoffs. The agreement, which follows Thyssenkrupp's announcement that up to 11,000 jobs at the steel unit had to be cut or outsourced, paves the way for deeper talks that are expected to result in a new collective wage agreement by summer, the company said. Reaching a wage deal has been seen as a hurdle to be cleared before Thyssenkrupp can sell an additional 30% stake in the steel business to Czech billionaire Daniel Kretinsky, as planned. The investor already owns a 20% stake via a holding company. (Reporting by Christoph SteitzEditing by Ludwig Burger) View Comments |
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| 29.03.25 08:23:32 | Despite shrinking by €329m in the past week, thyssenkrupp (ETR:TKA) shareholders are still up 128% over 5 years |  |
| When you buy a stock there is always a possibility that it could drop 100%. But on a lighter note, a good company can see its share price rise well over 100%. One great example is thyssenkrupp AG (ETR:TKA) which saw its share price drive 111% higher over five years. It's up an even more impressive 128% over the last quarter. In light of the stock dropping 5.5% in the past week, we want to investigate the longer term story, and see if fundamentals have been the driver of the company's positive five-year return. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. thyssenkrupp has made a profit in the past. On the other hand, it reported a trailing twelve months loss, suggesting it isn't reliably profitable. So it might be better to look at other metrics to try to understand the share price. The modest 1.7% dividend yield is unlikely to be propping up the share price. In contrast revenue growth of 3.9% per year is probably viewed as evidence that thyssenkrupp is growing, a real positive. In that case, the company may be sacrificing current earnings per share to drive growth. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail).XTRA:TKA Earnings and Revenue Growth March 29th 2025 If you are thinking of buying or selling thyssenkrupp stock, you should check out this FREEdetailed report on its balance sheet. What About Dividends? It is important to consider the total shareholder return, as well as the share price return, for any given stock. The TSR is a return calculation that accounts for the value of cash dividends (assuming that any dividend received was reinvested) and the calculated value of any discounted capital raisings and spin-offs. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of thyssenkrupp, it has a TSR of 128% for the last 5 years. That exceeds its share price return that we previously mentioned. And there's no prize for guessing that the dividend payments largely explain the divergence! A Different Perspective We're pleased to report that thyssenkrupp shareholders have received a total shareholder return of 87% over one year. That's including the dividend. That's better than the annualised return of 18% over half a decade, implying that the company is doing better recently. In the best case scenario, this may hint at some real business momentum, implying that now could be a great time to delve deeper. While it is well worth considering the different impacts that market conditions can have on the share price, there are other factors that are even more important. Even so, be aware that thyssenkrupp is showing 2 warning signs in our investment analysis, you should know about... Story Continues If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this freelist of companies that have proven they can grow earnings. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on German exchanges. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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| 14.03.25 16:57:26 | Thyssenkrupp ploughs ahead with spin-off of warship division | |
| FRANKFURT (Reuters) - Thyssenkrupp is moving ahead with a planned spin-off of a minority stake in its warship division, the group said on Friday, adding the newly created holding would be listed on the Frankfurt stock exchange. The company also said that talks with the German government about potential participation in its marine division, Thyssenkrupp Marine Systems (TKMS), were ongoing. The comments came in response to a report in Handelsblatt, which cited people familiar with the matter as saying that Thyssenkrupp had cancelled a sale of TKMS to Rheinmetall, Europe's biggest ammunition maker. "TKMS is already one of the largest system providers in the maritime defence industry in Germany. The company has excellent prospects in the relevant markets," Thyssenkrupp said in e-mailed comments. "The increasing demand forecast for the coming years in TKMS's core businesses and the long-term geostrategic developments offer us new opportunities for growth, which we would like to realise best via an independent set-up." Rheinmetall CEO Armin Papperger told Reuters last month that Rheinmetall had submitted a non-binding offer for TKMS at the end of 2024, adding the sales process had been stopped as Thyssenkrupp prefers a spin-off of the subsidiary. Thyssenkrupp last month said that it was no longer pursuing a sale of the unit despite significant interest from strategic players, adding the spin-off of TKMS, which analysts said could be valued at up to 2.3 billion euros ($2.5 billion), was the primary goal. ($1 = 0.9189 euros) (Reporting by Christoph Steitz; editing by Tom Sims and Christina Fincher) View Comments |
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| 06.03.25 15:02:00 | Thyssenkrupp Plans to Cut 1,800 Jobs at Weakened Auto Tech Unit | |
| The German industrial group plans to cut around 1,800 jobs as part of an effort to reduce costs at its automotive technology business, which posted a slump in sales and orders for the final three months of last year. Continue Reading View Comments |
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| 06.03.25 13:22:40 | Thyssenkrupp to cut 1,800 jobs on automotive weakness | |
| FRANKFURT (Reuters) - Thyssenkrupp plans to slash around 1,800 jobs due to the prolonged weakness in the car sector it supplies, the German conglomerate said on Thursday, becoming the latest player in the automotive industry to cut staff. Citing "persistently challenging market conditions in the global automotive industry", Thyssenkrupp said it would also freeze hiring and said measures overall were expected to help save more than 150 million euros ($162 million). "Production volumes continue to lag behind historical lows, and discussions about new tariffs are creating further uncertainty," Thyssenkrupp board member Volkmar Dinstuhl, who is in charge of the company's automotive business, said. The company said measures would also include cutting investments, in line with lower expected sales volumes. Carmakers and suppliers across the continent have announced job cuts due to softening demand, high costs, increasing pressure and a slower-than-expected transition to electric vehicles. "We cannot escape these market pressures, although we remain convinced of the future viability of our technologically leading component businesses," Dinstuhl said. ($1 = 0.9264 euros) (Reporting by Christoph Steitz; Editing by Madeline Chambers) View Comments |
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| 17.02.25 14:06:33 | Steelmaker Thyssenkrupp Soars as Defense Gains Add to IPO Merits | |
| (Bloomberg) -- Shares of Thyssenkrupp AG jumped the most in four and a half years as investors focused on the German steelmaker’s plans to conduct an initial public offering of its submarine-making unit at a time when Europe is trying to boost military spending. Most Read from Bloomberg Why Barcelona Bought the Building That Symbolizes Its Housing Crisis Progressive Portland Plots a Comeback Por qué Barcelona compró el edificio que simboliza su crisis inmobiliaria A Filmmaker’s Surreal Journey Into His Own Private Winnipeg How to Build a Neurodiverse City Shares in Thyssenkrupp were up as much as 20% on Monday amid a broad rally in Europe’s defense stocks. The US is turning up the pressure on the bloc to do more to shoulder the cost of any peace deal between Ukraine and Russia. While the IPO of Marine Systems — which supplied 70% of NATO’s current non-nuclear submarine fleet — would likely see strong demand, Bank of America analysts said the sale would also help Thyssenkrupp attract a broader pool of shareholders. Investors would be freed from environmental, social, and governance rules that stop them from holding Thyssenkrupp’s shares because it owns defense assets in addition to its main steelmaking business, according to BofA’s Jason Fairclough. The marine unit, which makes ships and submarines, could be worth around 50% of its parent company’s current market cap, according to Fairclough’s estimates. There’s a particular opportunity if the market assigns a defense multiple rather than a steel multiple to value the assets, he said. Read More, from November: Thyssenkrupp Plans Marine IPO Within a Year, Division Head Says --With assistance from Paul Jarvis and James Cone. Most Read from Bloomberg Businessweek The Undocumented Workers Who Helped Build Elon Musk’s Texas Gigafactory The Unicorn Boom Is Over, and Startups Are Getting Desperate Japan Perfected 7-Eleven. Why Can’t the US Get It Right? The NBA Has Fallen Into an Efficiency Trap How Silicon Valley Swung From Obama to Trump ©2025 Bloomberg L.P. View Comments |
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| 16.02.25 07:15:13 | thyssenkrupp First Quarter 2025 Earnings: €0.08 loss per share (vs €0.50 loss in 1Q 2024) | |
| thyssenkrupp (ETR:TKA) First Quarter 2025 Results Key Financial Results Revenue: €7.83b (down 4.3% from 1Q 2024). Net loss: €51.0m (loss narrowed by 84% from 1Q 2024). €0.08 loss per share (improved from €0.50 loss in 1Q 2024).XTRA:TKA Earnings and Revenue Growth February 16th 2025 All figures shown in the chart above are for the trailing 12 month (TTM) period thyssenkrupp Earnings Insights Looking ahead, revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 2.0% growth forecast for the Metals and Mining industry in Europe. Performance of the market in Germany. The company's shares are up 2.1% from a week ago. Risk Analysis We should say that we've discovered 1 warning sign for thyssenkrupp that you should be aware of before investing here. Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. View Comments |
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