Thyssenkrupp AG (TKAMY) Q3 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

311 million euro, mainly on the back of the preceding restructuring provisions in Q1 that you're all aware of. Talking about free cash flow before M&A, that was minus 140 million euro in the quarter, improving by 140 million euro year on year. That leads to a accumulated nine-month figure of minus 1.9 billion euro. Overall, important to note that reflects our usual cash flow pattern that will reverse in the running quarter. Miguel has already mentioned that we do confirm our full year guidance for free cash flow before M&A. With regard to our balance sheet, we maintained a solid net cash position at around 2.6 billion Euro. And in order to conclude the financial overview for the group, the key message is quite straightforward. We are executing strongly on performance management and at the same time preserving balance sheet strength while staying realistic about the macro and demand environment. Turning to the next slide, this provides a high-level view of sales and EBIT adjusted development in the third quarter. On sales, our message is that top-line development shows a promising momentum. Improvement was especially supported by material services, now TKXLS, with positive effects from prices and volumes, while other segments, such as automotive technology and decarbon technologies, still faced pretty low demand. Let's get to EBIT adjusted. Overall increase was mainly driven by steel on the back of restructuring efforts and more favorable raw material costs. In addition, material services and marine systems also posted pleasant year-over-year increases. These developments more than offset In short, the quarter demonstrates that our performance measures are becoming increasingly visible in the numbers, even though we are not yet seeing a broad-based market recovery acr...