In the first quarter of the 2025/26 fiscal year (ending in September), the group reported a net loss of 353 million euros after minority interests, compared to a loss of 51 million euros in the same period last year, the company announced on Thursday. The main reason was restructuring costs in the steel business amounting to 401 million euros. Analysts had, on average, expected a profit of 32 million euros, according to LSEG data.
Thyssenkrupp confirmed its forecast that the full year will show a deficit of between minus 800 and minus 400 million euros. This figure particularly includes the creation of provisions, such as severance payments at Steel Europe.
In the steel division, up to 11,000 of the approximately 26,000 jobs are to be cut or outsourced in the coming years. Thyssenkrupp is currently in talks to sell the business to Indian steel company Jindal Steel International. The focus is on the ongoing comprehensive due diligence review, Thyssenkrupp stated. Previous attempts to sell the steel business, take it public, or form a joint venture had failed.
The exit from neighboring steel company HKM will result in a loss in the low to mid-triple-digit million euro range, the company explained.
Operationally, Steel Europe was able to improve at the start of the year. Adjusted EBIT climbed to 216 million euros from 168 million euros the previous year. The division benefited from falling raw material costs and the efficiency measures that had been initiated. Across the entire group, the figure improved by 20 million to 211 million euros. "We are strengthening our
competitiveness step by step while decisively driving the transformation of the group forward," emphasized CEO Miguel Lopez.
(Edited by Olaf Brenner. For inquiries, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
