Thyssenkrupp more pessimistic - Marine division drives business

"We are clearly feeling the effects of the weak market environment in important customer industries such as the automotive industry, mechanical and plant engineering and the construction industry," said Group CEO Miguel López when presenting the figures for the third financial quarter. One ray of hope is the marine division TKMS, which is about to be spun off and which increased new business and sales.

However, this cannot compensate for the weaker development in other areas. For the 2024/25 financial year (as at the end of September), thyssenkrupp now expects a decline in sales of five to seven percent. Previously, the Group had forecast stagnation or a decline of up to 3 percent.

In the third quarter, order intake grew by a good fifth to 10.1 billion euros thanks to TKMS. The naval division, which produces submarines as well as frigates and corvettes, benefited from the current armaments boom and contributed 3 billion euros - the largest share compared to the other divisions, which all recorded less new business.

Group sales fell by nine percent to 8.2 billion euros. Here too, TKMS was the only division to increase its revenue. Thyssenkrupp intends to spin off the division and float it on the stock exchange before the end of this calendar year. On the bottom line, Thyssenkrupp widened its loss to 278 million euros after a minus of 54 million euros in the same period last year.