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Investing.com -- Thyssenkrupp raised the lower end of its 2026 profit outlook Thursday, a move driven by strength in its steel, marine and materials trading units as well as cost savings from its ongoing efficiency program.
The report comes a week after Thyssenkrupp shareholders approved the spinoff of the group’s materials trading division, its largest by sales, marking the latest step in the company’s push to simplify its sprawling structure.
The move will see 49% of tk accelis — which wholesales raw materials such as steel and alloys and operates storage warehouses — spun off, following the separate listings of Thyssenkrupp’s hydrogen and defense divisions in recent years. With 99.99% shareholder approval, tk accelis could list separately by the end of October, with Thyssenkrupp retaining a majority stake.
Thyssenkrupp now expects adjusted operating profit of €600 million to €900 million for the year, narrowing the range from a prior forecast of €500 million to €900 million, compared with a company-provided consensus estimate of €833 million. Net income is expected in a range of negative €700 million to negative €400 million, narrowed from a previous range of negative €800 million to negative €400 million.
Group sales are expected to fall 1% to 3% compared with the prior year, narrowed from a previous forecast of flat to a 3% decline.
For the third quarter, sales came in higher than expected at €8.79 billion, driven by the materials and steel divisions. Adjusted operating profit for the quarter rose 18% to €183 million, though that fell short of the €207 million consensus estimate.
Order intake declined to €7.7 billion, as expected, following substantial order extensions booked by Marine Systems in the same quarter a year earlier.
Thyssenkrupp posted net income of €34 million in the third quarter, reversing a loss of €255 million a year earlier, driven in part by a €131 million positive accounting effect at Steel Europe tied to the sale of its stake in Hüttenwerke Krupp Mannesmann. Net income after minority interest was €0 million, compared with a loss of €278 million a year earlier.
