A steel worker stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, Germany, November 5, 2025. REUTERS
FRANKFURT, Feb 12 (Reuters) – Thyssenkrupp on Thursday unveiled 401 million euros ($477 million) in expenses to fund far-reaching job cuts at its steel division, as the German industrial conglomerate continues talks with India’s Jindal Steel over a sale of the business.
As a result of the charges, Thyssenkrupp’s first-quarter net loss widened to 353 million euros. Analysts polled by LSEG had, on average, expected a net profit of 32 million euros for the period.
A solution for the steel business, closely tied to Germany’s industrial history, is seen as the centrepiece of Thyssenkrupp CEO Miguel Lopez’s strategy to turn the sprawling group into a holding.
Such efforts have already seen the company divest and separately list its electrolyser and warship divisions, lifting Thyssenkrupp’s stock price despite a tough macroeconomic environment for the car-parts-to-materials firm.
($1 = 0.8411 euros)
Reporting by Christoph Steitz. Editing by Jane Merriman and Ludwig Burger
