thyssenkrupp (TKA) investor relations material

Executive summary

• Transformation to a lean financial holding structure is progressing, with the tk accelis spin-off advancing and major restructuring milestones such as the HKM exit and Marine Systems listing achieved.

• Green transformation initiatives advanced, including ammonia converter modernization, DRI plant construction, a 13% production boost at Uhde, and the world's first industrial-scale oxyfuel plant at Polysius.

• Order intake for the first 9 months fell 15% year-over-year to €26.0 billion, mainly due to fewer large Marine Systems orders.

• Performance improved despite uncertain market conditions, with operational resilience and restructuring effects visible.

• Strategic realignment advanced with the planned spin-off of tk accelis and the completed sale of the HKM stake.

Financial highlights

• Q3 sales reached €8.8 billion, up 8% year-over-year; nine-month sales at €24.4 billion, down 1% year-over-year.

• Q3 adjusted EBIT was €183 million (up €28 million year-over-year); nine-month adjusted EBIT at €591 million (up 62%).

• Q3 net income improved to €34 million from a €255 million loss a year earlier; nine-month net income at €(311) million, impacted by restructuring and one-time items.

• Free cash flow before M&A for Q3 at €(114) million, improved by €140 million year-over-year; nine-month figure at €(1.9) billion.

• Net financial assets/cash position at €2.6 billion as of June 2026; available liquidity €5.3 billion.

Outlook and guidance

• Group sales guidance lowered to a decline of 1–3% year-over-year.

• Adjusted EBIT guidance narrowed upward to €600–900 million.

• Free cash flow before M&A confirmed at €(600) million to €(300) million.

• Net income expected between €(700) million and €(400) million, reflecting restructuring provisions.

• Segment guidance upgraded for Materials Services and Marine Systems; more cautious for Steel Europe and Decarbon Technologies.