Thyssenkrupp Half-Year Report 2024

In the first six months, adjusted EBIT and FCF before M&A were in line with the expectations for the full year, partly supported by the development in the 2nd quarter

• Performance of the group in the 1st half compared with the prior year
• Order intake and sales lower than in the prior year in both the 1st half and the 2nd quarter, mainly due to price- and demand-induced declines at Materials Services and Steel Europe
• Adjusted EBIT in both the 1st half and the 2nd quarter below the prior-year level, which benefited from one-time effects, especially at Automotive Technology; driven principally by decreases at Automotive Technology, Decarbon Technologies and Materials Services; earnings increases at Steel Europe and Marine Systems, especially in the 2nd quarter
• Net income negative and below the prior year, mainly due to the aforementioned trends and negative special items such as the measurement of CO2 forward contracts; 2nd quarter also negative but higher than in the prior-year period
• FCF before M&A below the prior year and negative due to increase in net working capital; improvement in the 2nd quarter
• “APEX“ performance program, which bundles the group’s established and new transformation and performance measures: implementation on schedule with continuous ramp-up of the earnings effects.