German steel maker Thyssenkrupp, a virtual capital market day on “Transforming to sustained value creation”, has unveiled transformation path for the entire company and announced medium-term goals of adjusted EBIT margin of 4-6% and significantly positive free cash flow before M&A aimed. Medium-term goals at segment level: growth expected in particular from digitization and green transformation in businesses such as slewing bearings, automotive technology and materials services; UCE planned to go public. Thyssenkrupp CEO Ms Martina Merz said "We are now also working on the next phase of our transformation, in which we will increasingly focus on growth opportunities in the businesses. We are bringing thyssenkrupp back on the road to success, with competitive businesses that make money and grow profitably. Despite the challenges posed by the corona pandemic and the current supply chain issue, we are making good progress. The measures introduced are starting to take effect, others are in preparation. We are now also working on the next phase of our transformation, in which we will increasingly focus on growth opportunities in the businesses. "The first “Focus” phase is primarily about structuring and concentrating the company's portfolio. To this end, thyssenkrupp continuously reviews the individual development potential of the businesses and the structure in which the units have the best future prospects in order to create value. Thyssenkrupp intends to continue to run Materials Services, Industrial Components and Automotive Technology within the group. At Steel Europe too, thyssenkrupp is pushing the further development under its own steam, but at the same time is examining how an independent structure can open up better future prospects for the steel business in the long term. At Marine Systems, thyssenkrupp is also pursuing possible partnerships and consolidation options in addition to the stand-alone scenario in order to put the German and European shipbuilding industry in a stronger international position overall. Businesses for which thyssenkrupp is primarily pursuing development paths outside the group have been combined in the Multi Tracks segment. With the agreed and in some cases already completed sales of the Mining, Infrastructure, Carbon Components and AST divisions, as well as the closure of the heavy plate plant in Duisburg, thyssenkrupp achieved a solution in a first package for 50 percent of the sales of Multi Tracks in the past fiscal year. From these transactions orIn the second phase, "Improve", the focus is on improving the performance of all businesses. The aim is to achieve competitive margins at the level of the best competitors in each case. Thyssenkrupp is also making good progress here. For example, the key performance indicators and logic as well as the associated remuneration systems were further developed, value enhancement levers were identified in all businesses, and goals and plans were consistently underpinned by specific measures and initiatives. As part of "Improve", thyssenkrupp had started the largest restructuring program in the company's history and in the last two fiscal years had already cut 7,800 of the more than 12,000 jobs announced by fiscal year 2023/2024 in a socially responsible manner.
German steel maker Thyssenkrupp, a virtual capital market day on “Transforming to sustained value creation”, has unveiled transformation path for the entire company and announced medium-term goals of adjusted EBIT margin of 4-6% and significantly positive free cash flow before M&A aimed. Medium-term goals at segment level: growth expected in particular from digitization and green transformation in businesses such as slewing bearings, automotive technology and materials services; UCE planned to go public. Thyssenkrupp CEO Ms Martina Merz said "We are now also working on the next phase of our transformation, in which we will increasingly focus on growth opportunities in the businesses. We are bringing thyssenkrupp back on the road to success, with competitive businesses that make money and grow profitably. Despite the challenges posed by the corona pandemic and the current supply chain issue, we are making good progress. The measures introduced are starting to take effect, others are in preparation. We are now also working on the next phase of our transformation, in which we will increasingly focus on growth opportunities in the businesses. "The first “Focus” phase is primarily about structuring and concentrating the company's portfolio. To this end, thyssenkrupp continuously reviews the individual development potential of the businesses and the structure in which the units have the best future prospects in order to create value. Thyssenkrupp intends to continue to run Materials Services, Industrial Components and Automotive Technology within the group. At Steel Europe too, thyssenkrupp is pushing the further development under its own steam, but at the same time is examining how an independent structure can open up better future prospects for the steel business in the long term. At Marine Systems, thyssenkrupp is also pursuing possible partnerships and consolidation options in addition to the stand-alone scenario in order to put the German and European shipbuilding industry in a stronger international position overall. Businesses for which thyssenkrupp is primarily pursuing development paths outside the group have been combined in the Multi Tracks segment. With the agreed and in some cases already completed sales of the Mining, Infrastructure, Carbon Components and AST divisions, as well as the closure of the heavy plate plant in Duisburg, thyssenkrupp achieved a solution in a first package for 50 percent of the sales of Multi Tracks in the past fiscal year. From these transactions orIn the second phase, "Improve", the focus is on improving the performance of all businesses. The aim is to achieve competitive margins at the level of the best competitors in each case. Thyssenkrupp is also making good progress here. For example, the key performance indicators and logic as well as the associated remuneration systems were further developed, value enhancement levers were identified in all businesses, and goals and plans were consistently underpinned by specific measures and initiatives. As part of "Improve", thyssenkrupp had started the largest restructuring program in the company's history and in the last two fiscal years had already cut 7,800 of the more than 12,000 jobs announced by fiscal year 2023/2024 in a socially responsible manner.
