|Bid||6.80 x 0|
|Ask||6.91 x 0|
|Day's range||6.76 - 6.89|
|52-week range||4.18 - 9.20|
|Beta (5Y monthly)||2.12|
|PE ratio (TTM)||3.92|
|Forward dividend & yield||0.15 (2.20%)|
|Ex-dividend date||06 Feb 2023|
|1y target est||N/A|
DUESSELDORF/FRANKFURT (Reuters) -Thyssenkrupp's labour bosses cranked up the pressure on Berlin to help fund a 2 billion euro ($2.2 billion) green steel production site, warning in a letter to Economy Minister Robert Habeck that a further subsidy cut could choke off the project. Reducing support further would trigger a "massive discussion" within Thyssenkrupp's supervisory board over whether to pull the plug on the investment, the letter, dated May 17 and co-signed by the group's deputy chairman Juergen Kerner, said. The letter did not disclose either how much Berlin had proposed in state help, or by how much this had been reduced.
(Bloomberg) -- Thyssenkrupp AG plans to launch a long-awaited initial public offering of its Nucera hydrogen unit next month, which could be valued at about €4 billion ($4.3 billion), people with knowledge of the matter said.Most Read from BloombergHere’s How Much Wealth You Need to Join the Richest 1% GloballyDebt-Limit Talks to Intensify as Biden Set to Depart for JapanJPMorgan Asset Says Markets Are Right to Bet on US Rate CutsMercedes Sets Out to Make Sexy Vans With Yacht-Like InteriorsThe G
Thyssenkrupp's incoming chief executive has no plans to waste time when he takes over the German conglomerate next month, he said on Tuesday, under pressure to hive off several businesses, including steel and defence. "Tough, far-reaching decisions have to be made as we diligently press ahead with the transformation process at the required speed," Miguel Angel Lopez Borrego, who will take over as CEO on June 1, said in a statement. He said after initial discussions with stakeholders he was confident the industrial group's transformation, which has been delayed by macroeconomic factors and internal conflict, could be completed.
DUESSELDORF (Reuters) -Thyssenkrupp has urged Berlin to move quickly to approve hundreds of millions in subsidies for a landmark carbon-neutral steel site, with one of the company's labour bosses saying workers' patience had run out. The criticism is mainly aimed at Economy Minister Robert Habeck, who visited Thyssenkrupp's steel hub in Duisburg in 2022 and pledged support for the new plant. Thyssenkrupp cannot cover the more than 2 billion euros ($2.2 billion) needed to build the so-called direct reduction plant and associated infrastructure in Duisburg.
FRANKFURT/DUESSELDORF (Reuters) -Influential labour representatives are open to private equity players taking a stake in Thyssenkrupp's warship division Marine Systems (TKMS) and will set up a committee in the coming days to join the negotiation process. "We are not generally opposing private equity taking a stake in TKMS," said Daniel Friedrich, who leads the division at IG Metall, Germany's most powerful union, that represents workers in coastal areas. Thyssenkrupp is reviewing strategic options for the unit, which builds submarines and frigates, and held early talks with private equity firms KKR, Carlyle and CVC, according to two people familiar with the matter.
FRANKFURT (Reuters) -Thyssenkrupp's incoming chief executive faces the same task his three predecessors failed to get done: divesting its 200-year-old steel business on which the iconic German conglomerate was built. Just how tough it is became clear on Monday when Martina Merz threw in the towel and asked to terminate her CEO contract five years early, a consequence of growing opposition to a plan to hive off the group's steel division, Europe's second-largest. Her likely successor, Norma interim CEO Miguel Angel Lopez Borrego, will have to navigate the same complex web of stakeholders that has made it impossible so far to sell what is arguably the company's most emotionally-charged asset.
Investing.com -- Shares in Thyssenkrupp AG O.N. (ETR:TKAG) slumped on Monday after the German industrial firm announced that chief executive Martina Merz is looking to quit.
Thyssenkrupp may pick June to list its hydrogen business Nucera, provided equity markets are robust, three people familiar with the matter said, in what could be a multi-billion euro initial public offering. Plans to list Nucera, a 66%-34% joint venture between Thyssenkrupp and Italy's De Nora, were put on the backburner last year due to unfavourable market conditions following the war in Ukraine and subsequent energy crisis. Nucera makes the electrolysers that are needed to produce green hydrogen - a sector that is currently benefiting from the U.S. Inflation Reduction Act and European Union initiatives to support the green energy transition.
Salzgitter is not in discussions with Thyssenkrupp about a steel merger, its chief executive said, responding to what sources have said are renewed efforts by the German conglomerate to sell its steel division. Sources told Reuters last week that Thyssenkrupp had revived efforts to explore a divestment of Steel Europe, which the company has been wanting to list, merge or spin off for most of the past two decades. "So far I have not seen any economic and industrial concept that is so convincing that I would propose it to our shareholders," Gunnar Groebler said when asked about the appeal of a tie-up of the country's top steelmakers.
BERLIN/FRANKFURT (Reuters) -German industrial group Thyssenkrupp is making renewed efforts to divest its steel division and is working with Goldman Sachs to explore options, according to two people close to the matter. The company, whose products range from car parts to submarines, had put the idea of spin-off of the business on ice last year following failed efforts to list, sell or find a merger partner for what is Europe's second-largest steelmaker. Thyssenkrupp believes that a standalone solution, whether a sale, merger or spin-off, is the best solution for the volatile steel business, which will require billions in investments over the coming years to switch to carbon-free production.
By Scott Kanowsky
FRANKFURT/DUESSELDORF (Reuters) -A top-20 Thyssenkrupp shareholder called on Friday for the rapid disposal of the German group's warship and submarine business, saying its risks outweighed any potential benefits. Thyssenkrupp is considering what it calls a standalone solution for Thyssenkrupp Marine Systems (TKMS), including partnerships, joint ventures or other forms of consolidation. Thyssenkrupp Chief Executive Martina Merz played down the need for swift action at the group's annual general meeting, saying TKMS, which has around 6,900 staff, was in a strong position.
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FRANKFURT (Reuters) -Germany's Thyssenkrupp on Friday said that Nucera, its joint venture with Italy's De Nora, saw its operating profit fall by two-thirds, citing costs related to preparations for a potential stock market listing and growth investments. Earnings before interest and tax (EBIT) for the business, which Thyssenkrupp said might go public via an initial public offering (IPO) at some point, fell to 9 million euros ($9.4 million) in the 2021/22 fiscal year ending September. This was partly due to a "mid-single digit euro million amount of non-recurring IPO preparation costs", Thyssenkrupp said in presentation slides, published as part of a capital markets update a week after full-year results.
Activist fund Cevian has cut its stake in Thyssenkrupp to less than 1%, it said on Tuesday, effectively ending its loss-making engagement with the German industrial group after years of restructuring that failed to boost its share price. Cevian, which first disclosed a stake in Thyssenkrupp in 2013, had nearly halved its stake to 7.9% a year ago after a far-reaching overhaul it had long demanded arrived too late. "Cevian Capital reduced its ownership in Thyssenkrupp to a small residual position of less than 1%, driven by regular portfolio management decisions," the fund said on Tuesday in a written reply to questions.
By Scott Kanowsky
FRANKFURT/ESSEN, Germany (Reuters) -German industrial group Thyssenkrupp on Thursday warned that sales and profit will "nosedive" next year as high inflation and energy costs are compounded by expected recession in Europe. "Everyone is expecting a recession in Europe," Chief Executive Martina Merz said, citing high energy costs and concerns over competitiveness, high inflation and interest rates. Merz also said that large merger projects will be put on the back-burner as the deals market goes into "hibernation", further delaying a sale, tie-up or merger of Thyssenkrupp's steel division.
Thyssenkrupp's steel division, Europe's second-largest, is feeling the impact of soaring energy prices and welcomes this week's proposal by an expert commission to cap gas costs for industry, a senior executive said. "The energy crisis is hitting us hard, for sure," Thyssenkrupp Steel Europe Chief Executive Bernhard Osburg said during the official inauguration of a new hot-dip galvanising facility that has cost over 250 million euros ($243 million). Osburg said that was why the company welcomes the commission's proposal to set a fixed gas price for industry at 7 euro cents per kilowatt hour from 2023, which applies to 70% of consumption, with 2021 serving as the benchmark year.
ROME (Reuters) -The Nucera hydrogen division of Germany's Thyssenkrupp aims to list in autumn, the Chief Financial Officer of Italy's electrode maker De Nora Matteo Lodrini said on Thursday. Thyssenkrupp on Friday said it would not pursue an initial public offering (IPO) of Nucera for the moment, amid a volatile market that has already delayed numerous listings. Nucera, which plans and engineers electrolysers to produce hydrogen, is a 66-34 joint venture between ThyssenKrupp and family-controlled De Nora, itself an IPO candidate.
FRANKFURT (Reuters) -Germany's Thyssenkrupp said on Friday it would not pursue an initial public offering (IPO) of its hydrogen division Nucera for now, amid a volatile market that has already delayed numerous listings. Thyssenkrupp said an IPO still remained the preferred solution to grow Nucera, a 66-34 joint venture with Italy's De Nora, itself an IPO candidate. "Considering the current stock market environment, Thyssenkrupp has decided to refrain from an IPO of Thyssenkrupp Nucera at this point in time," Thyssenkrupp said in a statement.