Steel industry
Thyssenkrupp pessimistic – marine division drives business
The automotive industry and construction industry are felt by the steel company. The armor area is booming, but cannot compensate for the weakness in the other areas.
The Thyssenkrupp industrial group becomes more pessimistic for the current financial year. The company suffers from a sunken demand and lower prices. “The weak market environment in important customer industries such as the automotive industry, mechanical and plant engineering and the construction industry can be felt clearly for us,” said CEO Miguel López when submitting the figures for the third business district. A ray of hope is the TKMS marine division, which increased in front of the split, increasing new business and sales.
This cannot compensate for the weaker development in other areas. For the 2024/25 financial year (at the end of September), Thyssenkrupp is now expecting a decline in sales of five to seven percent. So far, the group had promised a stagnation or a decline of up to 3 percent.
In the third business quarter, the order intake grew by a fifth to 10.1 billion euros thanks to TKMS. The marine division, the submarines as well as frigates and corvettes, benefited from the current armaments boom and contributed 3 billion euros – and thus the largest share compared to the other areas that recorded consistently less new business.
Group sales fell by nine percent to 8.2 billion euros. Here, too, TKMS was the only area to increase the revenues. Thyssenkrupp wants to split off the division and bring it to the stock exchange in this calendar year. The bottom line was that Thyssenkrupp extended his loss to 278 million euros after a minus of 54 million euros in the previous year.
dpa
Source: Stern
