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thyssenkrupp AG (TKA.F)

4.7910

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At close: April 26 at 9:55 PM GMT+2

Thyssenkrupp to Sell 20% Stake in Steel Business to Kretinsky’s EP

Thyssenkrupp has agreed to sell a 20% stake in its steel business to Czech billionaire Daniel Kretinsky’s EP Corporate Group for an undisclosed sum, settling on a partial divestment after yearslong efforts to dispose of it.

The Wall Street Journal 15 hours ago

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Thyssenkrupp Steel to Cut Jobs, Production Capacity Amid Tough Market

Thyssenkrupp Steel plans to reduce its production capacity to between 9 million and 9.5 million metric tons a year, broadly in line with its shipments over the past three years and cut jobs, in response to challenging market conditions, with weak demand, high energy costs and rising competition from Asia hurting its business.

The Wall Street Journal 14 days ago

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Thyssenkrupp, Carlyle to Evaluate Possible Sale of Marine Systems Business

Thyssenkrupp has agreed to begin due-diligence procedures for a possible partial sale of its marine systems business to Carlyle.

The Wall Street Journal last month

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Thyssenkrupp considering Marine Systems deal with Carlyle

(Reuters) -Thyssenkrupp is considering selling a stake in its Marine Systems unit which builds naval ships and submarines to investment firm Carlyle, the German conglomerate said on Tuesday. "With the active involvement of Carlyle, we are now taking the necessary next step and starting the phase of an open-ended assessment of the relevant business activities," Executive Board member Volkmar Dinstuhl said in a statement. The Marine Systems unit has an enterprise value of between 1.2-1.6 billion euros ($1.3-1.7 billion), sources familiar with the matter said.

Reuters last month

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UPDATE 1-Thyssenkrupp evaluates Carlyle's bid for marine unit

Thyssenkrupp on Tuesday said it has entered a due diligence phase on the potential partial sale of its marine unit with investment firm Carlyle . "With the active involvement of Carlyle, we are now taking the necessary next step and starting the phase of an open-ended assessment of the relevant business activities," Thyssenkrupp's Executive Board member Volkmar Dinstuhl said in a statement. The sale to Carlyle is one of the several options that the firm is currently considering, he added.

Reuters last month

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Thyssenkrupp steel workers warn against big restructuring

Thyssenkrupp's labour representatives on Wednesday warned the German conglomerate's management against cutting jobs or capacity as part of an expected sale of its steel division. Concerned Thyssenkrupp may take such steps as part of a planned partial sale to Czech energy group EPH, workers said they had hired a consultancy to come up with future scenarios that would preserve the steel unit's current size and scope. "We are not ruling anything out, but it remains clear to us that we want to keep Stahl in its current size," Tekin Nasikkol, who heads Thyssenkrupp's works council and sits on the group's supervisory board, said in a handout seen by Reuters.

Reuters 2 months ago

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Thyssenkrupp Shares Dive 10% After Profit, Sales Guidance Cuts

Thyssenkrupp shares opened around 10% lower after the company cut its full-year sales and profit targets due to faltering demand and impairment losses in its fiscal first quarter.

The Wall Street Journal 2 months ago

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Thyssenkrupp cuts net profit outlook on steel unit woes, shares plunge

Thyssenkrupp cut its annual sales and net profit forecasts on Wednesday due to impairment losses and softening demand at its steel division, the latest setback in the group's efforts to win back confidence among investors. The issues have triggered a far-reaching performance programme, dubbed APEX, which aims to boost adjusted operating profit by 2 billion euros ($2.1 billion) at a time when the group's market value has dropped below its net financial assets of 3.8 billion euros. "So there's a giant valuation disconnect here ... which to me suggests either that the market doesn't trust you or ... something else," analyst Jason Fairclough of Bank of America said during a conference call with the company.

Reuters 2 months ago

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Thyssenkrupp workers warn against confrontational management approach

Thyssenkrupp must not divest its steel and marine units against the will of workers, the group's labour leaders said on Friday, criticising the conglomerate's top leadership for a new confrontational approach to decisions. The comments, made in a handout by the IG Metall union to staff, come a week after the group's management expanded the board by two seats against despite labour opposition, which unions called a break with tradition. Workers have traditionally commanded great clout at Thyssenkrupp, and hold half of the 20 seats on the group's supervisory board, but Chairman Siegfried Russwurm last week used his vote, which counts twice in case of a tie, to push the change through.

Reuters 4 months ago

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Thyssenkrupp posts $2.3 billion steel impairment as JV talks with EPH drag on

FRANKFURT/ESSEN, Germany (Reuters) -Germany's Thyssenkrupp on Wednesday announced a 2.1-billion-euro ($2.3 billion) impairment on its steel unit due to a "gloomy" outlook for the sector, highlighting the challenge in efforts to win Czech energy group EPH as a co-owner for the business. Still the industrial conglomerate posted its first positive free cash flow before mergers and acquisitions, a key gauge for investors, in seven years, sending its shares to a 7-week high. Thyssenkrupp shares rose as much as 7.5% after the group said free cash flow before M&A came in at 363 million euros and proposed a stable dividend of 0.15 euros per share.

Reuters 5 months ago

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Thyssenkrupp in talks to sell up to 50% of steel unit to Czech billionaire -sources

FRANKFURT (Reuters) -German industrial group Thyssenkrupp is in advanced talks to sell up to 50% of its steel division to Czech billionaire Daniel Kretinsky, two people with knowledge of the matter told Reuters on Thursday. Thyssenkrupp resumed efforts to divest its steel division earlier this year, after the plan was abandoned following unsuccessful efforts to list, sell or find a merger partner for what is Europe's second-largest steelmaker. Reuters reported in June that Kretinsky was interested in a stake in Thyssenkrupp's steel division.

Reuters 6 months ago

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UPDATE 2-Thyssenkrupp CFO Keysberg to step down next year

Thyssenkrupp AG Chief Financial Officer Klaus Keysberg will step down from his role next year, the company said on Wednesday, marking the latest leadership change at the German industrial group. Keysberg's contract runs until July 31, 2024, and he has decided not to seek an extension, the company said, adding that it has started a succession search. "We respect the decision of Dr. Klaus Keysberg, even though we regret his leaving," Thyssenkrupp Chairman Siegfried Russwurm said.

Reuters 7 months ago

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Thyssenkrupp flags new cost cuts to regain investor confidence

Thyssenkrupp on Thursday flagged a new cost-cutting programme to raise its performance and improve returns for shareholders, and said it now expects to hit the upper end of its profit outlook following solid third-quarter results. Details of the new cost cut plans are to be unveiled later this year and new CEO Miguel Lopez, who has been in the job a little over two months, refrained from ruling out potential layoffs when repeatedly asked by journalists. The engineering and steel production conglomerate now expects adjusted earnings before interest and tax (EBIT) in the high triple-digit million euro range, having previously forecast it to be in the mid to high triple-digit million range.

Reuters 8 months ago

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Fincantieri CEO open to closer strategic cooperation with Thyssenkrupp

Italian shipbuilder Fincantieri is interested in closer cooperation with partner Thyssenkrupp, which is looking to divest its warship division TKMS, the company's chief executive told a German newspaper. "Here we have two companies that fit well together and a cooperation that has proven its worth," Pierroberto Folgiero told Sueddeutsche Zeitung. Both companies already have a long-standing cooperation in the construction of submarines and have held talks about strategic options, including forming a 50-50 defence joint venture, in the past, according to sources.

Reuters 9 months ago

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ThyssenKrupp's Nucera valued at 2.5 billion euros in IPO

The company and its shareholders, Germany's ThyssenKrupp and Italy's De Nora, expect to raise up to 605 million euros through the IPO, making it one of Europe's largest so far this year. The stock is due to start trading on Friday on the Frankfurt Stock Exchange. "We are proud that in terms of placement volume ThyssenKrupp Nucera is the largest global hydrogen IPO of all times," Nucera's chief executive, Werner Ponikwar, said in the statement.

Reuters 9 months ago

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UPDATE 3-Thyssenkrupp Nucera pursues IPO at below forecast price range

Thyssenkrupp and Industrie De Nora pushed ahead with the planned initial public offering (IPO) of their hydrogen joint venture Thyssenkrupp Nucera on Friday, setting the price range at the lower end of expectations. The IPO will be the first in Germany since February, when shares in web hosting company IONOS debuted in Frankfurt, as stock market volatility and an uncertain economic outlook have put other company listings on the back-burner. Nucera said up to 30.3 million shares will be offered to investors at a price between 19 euros ($20.76) and 21.50 euros, corresponding to gross proceeds of up to 566 million euros and a stock market value of as much as 2.7 billion euros.

Reuters 9 months ago

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Thyssenkrupp Nucera pursues IPO at below forecast price range

The IPO will be the first in Germany since February, when shares in web hosting company IONOS debuted in Frankfurt, as stock market volatility and an uncertain economic outlook have put other company listings on the back-burner. Nucera said up to 30.3 million shares will be offered to investors at a price between 19 euros ($20.76) and 21.50 euros, corresponding to gross proceeds of up to 566 million euros and a stock market value of as much as 2.7 billion euros.

Reuters 9 months ago

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Thyssenkrupp Nucera targets valuation of at least $3.3 billion in planned IPO - sources

Thyssenkrupp Nucera is expected to be valued at more than 3 billion euros ($3.3 billion) in its planned initial public offering (IPO), according to four people familiar with the matter, with a listing pencilled in for early July. Investor briefings are ongoing and are expected to conclude by the end of the week, the people said, as Thyssenkrupp seeks to quickly seal the listing for the hydrogen business, which could become Europe's largest IPO this year. Last week, WE Soda, a producer of natural soda ash, abandoned plans to go public in London after investor feedback fell short of its valuation expectations.

Reuters 10 months ago

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Thyssenkrupp should consider industrial players in sale of defense division - IG Metall

Thyssenkrupp should explore a sale of its warship division to peers, in addition to private equity players and a potential stock market listing, according to influential German labour union IG Metall. Leaders should "keep an eye on industrial investors", IG Metall said in a union handout seen by Reuters, adding that while the union remained open for a full or partial sale of the business, options should also include keeping the division. Thyssenkrupp is currently exploring options for Thyssenkrupp Marine Systems (TKMS), which builds submarines and frigates, with scenarios ranging from a possible spin-off to a joint venture with a rival.

Reuters 10 months ago

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UPDATE 2-Germany expects Brussels to approve $2.2 bln Thyssenkrupp steel subsidies - source

The European Commission is expected to approve 2 billion euros ($2.2 billion) worth of German state subsidies for Thyssenkrupp's planned green steel plant in Duisburg, a German economy ministry source said on Tuesday. Approval is expected within the coming weeks, the source said, adding agreement had been reached on how the project is eligible for state funding. Thyssenkrupp declined to comment.

Reuters 10 months ago

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Performance Overview

Return	TKA.F	DAX PERFORMANCE-INDEX
YTD	-22.33%	+8.41%
1-Year	-19.74%	+14.42%
3-Year	-53.71%	+18.86%

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thyssenkrupp AG (TKA.F)

Thyssenkrupp to Sell 20% Stake in Steel Business to Kretinsky’s EP

Thyssenkrupp Steel to Cut Jobs, Production Capacity Amid Tough Market

Thyssenkrupp, Carlyle to Evaluate Possible Sale of Marine Systems Business

Thyssenkrupp considering Marine Systems deal with Carlyle

UPDATE 1-Thyssenkrupp evaluates Carlyle's bid for marine unit

Thyssenkrupp steel workers warn against big restructuring

Thyssenkrupp Shares Dive 10% After Profit, Sales Guidance Cuts

Thyssenkrupp cuts net profit outlook on steel unit woes, shares plunge

Thyssenkrupp workers warn against confrontational management approach

Thyssenkrupp posts $2.3 billion steel impairment as JV talks with EPH drag on

Thyssenkrupp in talks to sell up to 50% of steel unit to Czech billionaire -sources

UPDATE 2-Thyssenkrupp CFO Keysberg to step down next year

Thyssenkrupp flags new cost cuts to regain investor confidence

Fincantieri CEO open to closer strategic cooperation with Thyssenkrupp

ThyssenKrupp's Nucera valued at 2.5 billion euros in IPO

UPDATE 3-Thyssenkrupp Nucera pursues IPO at below forecast price range

Thyssenkrupp Nucera pursues IPO at below forecast price range

Thyssenkrupp Nucera targets valuation of at least $3.3 billion in planned IPO - sources

Thyssenkrupp should consider industrial players in sale of defense division - IG Metall

UPDATE 2-Germany expects Brussels to approve $2.2 bln Thyssenkrupp steel subsidies - source

Performance Overview