Latest news with #ThyssenkruppAG
Yahoo
27-05-2025
- Business
- Yahoo
German industrial giant Thyssenkrupp to spin off more divisions
The German industrial group Thyssenkrupp said on Monday that it plans to restructure its remaining three business areas following the spin-off of its steel and marine shipbuilding divisions. Thyssenkrupp AG is to become a strategic management company with independent units in the medium term, the company announced in Essen. It intends to retain majority stakes in the new businesses. "The core of the considerations is to gradually spin off all Thyssenkrupp business areas and open them up to third-party investment," the company said. It said that important steps had already been taken in this direction with the initiated spin-off of a minority stake in Thyssenkrupp Marine Systems and the planned joint venture for the steel division. According to the announcement, the materials and automotive components divisions are also to become independent in the coming years. "The goal is to form a focused, agile and restructured industrial group," the company said. The relatively new Decarbon Technologies segment, responsible for Thyssenkrupp's carbon dioxide reduction products, is also to be spun off in the future "once the markets for green technologies have gained momentum." With the reorganization, the company said it is offering its nearly 96,000 employees worldwide clear prospects for the future. "By creating the conditions for the best possible development of the segments, we are giving the people at Thyssenkrupp a good and secure future," human resources director Wilfried von Rath explained. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
15-05-2025
- Business
- Bloomberg
Thyssenkrupp Holds Guidance Despite Slump in Earnings, Cash
Thyssenkrupp AG reaffirmed its full-year guidance even as earnings slumped due to weak demand from automotive and industrial customers. The German steel and engineering group said it expects an improved — if challenging — economic backdrop in the second half of its fiscal year ending Sept. 30. That outlook underpins its forecast for between zero and €300 million (about $335.3 million) in free cash flow before mergers and acquisitions.
Bloomberg
01-04-2025
- Business
- Bloomberg
Surging Defense Stocks Led Europe's Quarter of US Outperformance
European defense stocks dominated a historic quarter of outperformance for the region's equities. And some investors are still trying to increase their positions. Armored-vehicle producer Rheinmetall AG and Thyssenkrupp AG — which has a submarine business — both saw their share prices double in the first quarter, the two members of the benchmark Stoxx 600 Index to do so. The next six best performers were all firms that stand to benefit from a surge in defense spending by European nations amid US threats to walk back its security commitment to the continent.
Bloomberg
17-03-2025
- Business
- Bloomberg
Germany's Defense Splurge Set to Favor European Companies
European weapons manufacturers from Thyssenkrupp AG to BAE Systems Plc and smaller drone makers stand to gain the most from Germany's massive defense-spending splurge, according people familiar with the matter, after comments by President Donald Trump raised doubts about the US's commitment to transatlantic cooperation. At the top of Berlin's shopping list are six F127 battleships from Germany's ThyssenKrupp Marine Systems valued at more than €15 billion ($16.4 billion), and 20 added Eurofighter jets from BAE and its partners worth some €3 billion, said the people, who spoke on condition of anonymity as the procurement plans aren't public.
Bloomberg
05-03-2025
- Business
- Bloomberg
European Steelmakers Surge on German Spending, China Output Cuts
European steelmakers extended a steep bull run after Germany pledged to loosen its purse strings and boost spending on infrastructure and defense, while China pledged to cut its steel output. Salzgitter AG and Thyssenkrupp AG surged as much as 16% Wednesday, while ArcelorMittal SA gained roughly 10%, during a broad-based rally in European industrial and defense stocks. The move came after Germany's chancellor-in-waiting Friedrich Merz moved to unlock hundreds of billions of euros for defense and infrastructure investments, jolting financial markets.
