智通财经4月9日电，蒂森克虏伯公司正在探索材料交易部门的出售方案，该部门的交易价值可能高达20 亿欧元。 ...

如果达成一份协议，预计基础资源贸易部门的估值高达20亿欧元（折合22亿美元）。 蒂森克虏伯寻求精简经营。（彭博） 据知情人士透露，蒂森克虏伯围绕原材料交易部门考虑若干退出选项。 ...

点赞"中国速度" 近期，许多外资企业全球高管来到中国，参加中国发展高层论坛、全球投资促进大会等活动。他们对中 国发展和中国机遇有了哪些全新观察？感受到中国开放、创新持续释放了怎样的吸引力？ 3月29日晚财经频道《对话》节目，在参与会见的企业中，邀请到两家企业的代表：蒂森克虏伯董事会 主席兼首席执行官米格尔·洛佩兹、淡水河谷公司首席执行官毕闻达走进演播室，讲述他们对中国发展 和中国机遇的全新观察，解码他们投资中国、相信未来的时代逻辑。 体验中国硬科技创新 DeepSeek能耗砍掉90% 中国人工智能技术的突破引发外企高度关注。蒂森克虏伯董事会主席兼首席执行官米格尔·洛佩兹对 DeepSeek的能效表现赞不绝口："据顶尖数学家和IT专家反馈，DeepSeek的能效表现令人惊叹，其能耗 仅为同类产品的十分之一，这确实是革命性的技术进步。"他特别强调："随着AI应用场景的指数级增 长，能耗问题将愈发突出。正因如此，提前规划如何降低单次搜索的千瓦时能耗显得尤为关键。" △蒂森克虏伯董事会主席兼首席执行官 米格尔·洛佩兹 采矿项目刷新行业标准 从"为中国制造"到"为世界创新" 跨国企业不仅将中国视为创新试验场，更期待携手 ...

Core Insights - ThyssenKrupp Marine Systems anticipates its attainable market in defense-related sectors, including electronics, drones, surface vessels, and submarines, to double or triple by the end of the decade [2][4] - The German parliament's approval of a significant fiscal package, which alters long-standing debt policies, is expected to facilitate increased defense spending [2][3] - The proposed changes to the defense budget indicate a shift towards unlimited spending on defense, with potential funding exceeding 500 billion euros, marking a historic change since 1945 [3][4] Company Developments - ThyssenKrupp Marine Systems, the naval division of ThyssenKrupp, is focused on manufacturing naval vessels and submarines, with plans to adapt to the growing demand for unmanned sea drones as an extension of current platforms [5][6] - The company has acquired a new shipyard in Wismar, Germany, to produce vessels for Germany, Norway, and Israel, complementing its existing facilities in Kiel and Brazil [6] - ThyssenKrupp Marine Systems is pursuing partnerships for expansion, including a joint venture with India's Mazagon Dock Shipbuilders to design and engineer six submarines for the Indian Navy, which will be built in India [7]

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TYEKF either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financial advi ...

Group 1 - The article expresses a beneficial long position in the shares of TKAMY, indicating a positive outlook on the company's stock performance [1] - The author emphasizes the importance of conducting due diligence and research prior to any investment, highlighting the risks associated with short-term trading and options trading [2] - The article clarifies that past performance is not indicative of future results, and no specific investment recommendations are provided [3]

Financial Data and Key Metrics Changes - The company achieved adjusted guidance on sales, EBIT, and free cash flow, with a positive free cash flow of EUR110 million for the second consecutive year [10][11] - Sales for the fiscal year were 7% below the prior year, totaling EUR2.5 billion less, while EBIT adjusted was EUR567 million, above the guidance of EUR500 million [16][22] - Net income was negatively impacted, reaching EUR1.4 billion, reflecting EUR1.6 billion in special effects, including EUR1 billion in impairments at Steel Europe [17][18] - The balance sheet remains strong with a net cash position of EUR4.4 billion, slightly up from the previous year [20] Business Line Data and Key Metrics Changes - **Automotive Technology**: Sales were down 7% in Q4 and below the prior year for the full fiscal year, but the segment showed resilient performance with a return on sales (ROS) of 3.3% [23] - **Decarbon Technologies**: Experienced a 12% growth in sales for the fiscal year, driven by a strong order book, but bottom-line performance was affected by special effects [27] - **Materials Services**: Sales were down 11% overall, but the segment maintained stable EBIT and cash conversion above 2 times [30][31] - **Steel Europe**: Sales were down 13% year-over-year, with a significant impact on profits due to underutilization and market conditions [33][34] - **Marine Systems**: Sales increased significantly, with EBIT strong at 5.9% ROS, benefiting from increased defense spending [36] Market Data and Key Metrics Changes - The automotive market remains soft, impacting demand across various segments, particularly for Steel Europe [13][23] - Geopolitical uncertainties and macroeconomic conditions continue to affect overall market performance [12][13] Company Strategy and Development Direction - The company aims to transform into a world-class technology group, focusing on green transformation and leveraging existing technologies to reduce CO2 emissions [5][6] - Strategic priorities include portfolio management, performance improvement, and green transformation, with ambitious targets set for the current financial year [8] - The company is pursuing a spin-off for Marine Systems while exploring partnerships to enhance competitiveness [57][59] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging geopolitical and economic environment but remains optimistic about the green transformation opportunities [4][5] - The outlook for the current fiscal year includes a sales growth guidance of 0% to 3% and EBIT adjusted guidance of EUR600 million to EUR1 billion [42][43] - The company anticipates restructuring payments impacting free cash flow, projecting a range of minus EUR400 million to minus EUR200 million before M&A [44][45] Other Important Information - The company invested around EUR690 million in research and development in the past financial year [6] - The APEX performance management program has been crucial in achieving financial stability, with EUR1.2 billion in EBIT improvement attributed to it [48][66] Q&A Session Summary Question: APEX's impact on financials - The company confirmed that without APEX, it would have reported a loss at the EBIT line this year [66][67] Question: Marine disposal and government involvement - Management expressed confidence in the German government's intention to consolidate the industry and take a stake in the company, despite recent political changes [68][69] Question: Steel business plan timing and metrics - The Steel business plan is expected in the coming months, with management focusing on creating an attractive plan requiring limited funding [76][77] Question: Key questions delaying the Steel business plan - Management clarified that they are not stuck on specific questions but are working to finalize the business plan with a new team [84][85] Question: Optimism in Steel despite market pressures - The anticipated performance improvement in Steel is primarily efficiency-driven rather than volume-driven, focusing on cost measures [86][87] Question: Marine Systems strategic partnership discussions - The company is currently focused on a spin-off for Marine Systems and is open to potential partnerships if they arise [89][90]

A general view of the gate of the Thyssenkrupp industrial area in Duisburg, Germany, on August 29, 2024. (Photo by Ying Tang/NurPhoto via Getty Images).Germany's Thyssenkrupp on Tuesday reported a 1-billion-euro ($1.06 billion) impairment on its struggling steel division as the industrial powerhouse flagged "gloomy volume" expectations and structural challenges in the sector.The firm said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — was mainly du ...

Investment Thesis - Thyssenkrupp is a German holding company with significant industrial holdings, primarily in the European Steel and Materials divisions, which produce and trade steel and steel products [1] - The company has faced a decline in share value, with a 50% drop since April of the previous year, and a market cap reduction from EUR 30 billion to approximately EUR 2 billion [1][2] Financial Performance - Thyssenkrupp reported a net loss of EUR -33 million in Q3, compared to a net profit of EUR 107 million in the previous year, marking the fourth consecutive quarter of losses [4] - Free cash flow (FCF) was negative at EUR -203 million, down from a positive EUR 608 million in the previous year [4] - Sales decreased by 9% year-over-year in Q1, totaling EUR 9 billion, and by 6% in the first three quarters, totaling EUR 26 billion [4][5] - The company anticipates a revenue decrease of 6-8% for the full fiscal year, with adjusted EBIT forecasted to exceed EUR 500 million [5] Business Segments - The steel division is under significant pressure, with ongoing discussions about its future and the need for substantial investment in green transformation, which the company currently lacks [2][6] - Other business segments, including Automotive, Decarbon Technologies, Material Services, and Marine Systems, are not performing well, with only two segments showing positive FCF in the last quarter [2] Strategic Challenges - Thyssenkrupp has struggled with the strategic direction of the company, with questions about its identity as more than a holding company of loosely related businesses [2][8] - The steel division's divestment has faced challenges, including internal disputes and tensions with labor unions, complicating the path forward [6][7] - The company has significant pension obligations amounting to EUR 5.6 billion, which exceed its property, plants, and equipment value of EUR 4.85 billion [2][8] Market Outlook - The current market cap of EUR 2 billion is viewed as undervalued, but the numerous unresolved issues and strategic uncertainties suggest a lack of compelling investment opportunities at this time [8]

Financial Data and Key Metrics Changes - The company reported a 6% decline in sales compared to the previous year for Q3, and a 9% decline year-to-date [14][18] - Adjusted EBIT for Q3 was €149 million, which included significant negative one-time effects of approximately €80 million related to Decarbon Technologies [15][18] - Free cash flow was reported at minus €256 million for Q3 and minus €983 million year-to-date, influenced by payment shifts and government funding timing [16][19] - The balance sheet remains solid with a stable equity ratio of 39% and net cash unchanged at €3.2 billion compared to the previous year [17] Business Line Data and Key Metrics Changes - Automotive Technology (AT) experienced a 6% decline in top line compared to the previous year, but bottom line development remained stable to slightly positive [19][20] - Decarbon Technologies (DT) saw a 10% increase in top line on a quarterly basis, driven by most businesses, despite a decline in order intake compared to a strong prior year [21][22] - Materials Services (MX) faced subdued demand, but adjusted EBIT was above the prior year due to positive contributions from international supply chain business [23] - Steel Europe (SE) reported a decline in sales and EBIT adjusted down by €90 million compared to the prior year, impacted by low demand and lower spot market prices [24][25] Market Data and Key Metrics Changes - The company noted muted market dynamics and demand across several industries, particularly in automotive, construction, and machinery [18] - The order intake for Decarbon Technologies has been less than expected due to postponed customer decisions, affecting growth momentum [62] Company Strategy and Development Direction - The company is focusing on green transformation, including the establishment of a new segment, Decarbon Technologies, and the development of a DRI plant at Steel Europe [4][9] - A performance program, APEX, is being implemented across businesses to adapt to market needs and improve performance [5][8] - The company is pursuing standalone solutions for Steel Europe and Marine Systems, with ongoing negotiations for joint ventures and restructuring plans [6][7] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging market environment and adjusted full-year guidance due to continued declines in sales [8][29] - The CFO emphasized the need for structural profitability improvements and contingency management in response to market conditions [12][13] - The company expects sales to decline by 6% to 8% compared to the previous year, with adjusted EBIT projected to exceed €500 million [29] Other Important Information - The company is actively working on a joint venture with EPCG for Steel Europe, with negotiations for a 50-50 partnership ongoing [6][31] - The due diligence phase for potential private equity partners in Marine Systems is progressing, with preparations for a spin-off as an alternative [7] Q&A Session Summary Question: Concerns about the timing of structural changes - Management expressed confidence in the ongoing process with KfW and the expected positive outcome in the coming months [30][31] Question: Capital structure for Steel and Marine spin-offs - Management indicated a combination of equity, shareholder loans, and external financing for Steel, while Marine is expected to be self-funded [33][34] Question: Key friction points in Steel Europe discussions - Management confirmed that discussions are ongoing and emphasized the importance of the business planning exercise [36][37] Question: Implications of the going concern audit - Management clarified that the audit is not binding and will provide an independent opinion on the sustainability of the business plan [38][39] Question: Details on the €80 million one-off cost at Polysius - Management explained that the amount relates to incorrect cost accounting and emphasized measures taken to strengthen internal controls [58][60] Question: Dependency of HKM transaction on Steel Europe sale - Management confirmed that the HKM sale and the additional 30% stake negotiations are independent processes [61][62]