Thyssenkrupp pushes ahead with restructuring despite shareholder tensions and union protests
Thyssenkrupp has reaffirmed its long-term restructuring plans at its annual general meeting. The company's stock closed at €11.29 on Friday, showing a 21.74% gain over the past month. Shareholders also approved a dividend payout, though it faced strong opposition from employees and unions.
The annual general meeting highlighted progress under the 'ACES 2030' strategy. A key milestone was the successful IPO of Thyssenkrupp Marine Systems (TKMS) in autumn 2025, with shares now trading well above their issue price and listed on the MDAX. Shareholders approved a €0.15 dividend per share for 2024/2025, totalling around €93 million. However, hundreds of employees protested the payout, with the IG Metall union criticising it as 'eroding the company's core'.
The steel division remains the biggest hurdle. Thyssenkrupp plans to reduce production capacity to 8.7–9 million tons of shipped steel. Talks with Jindal Steel International over a potential sale of Thyssenkrupp Steel Europe are ongoing. Since negotiations began in December 2024, the steel division's valuation has risen by about 15%, while the overall share price has climbed just 5% as of February 1, 2026.
Despite challenges, the group holds a record order backlog of €18.2 billion. For the 2025/2026 fiscal year, it forecasts a net loss of €400–800 million, mainly due to steel sector restructuring costs. The first-quarter interim report for 2025/2026 will be released on February 12, 2026.
Thyssenkrupp continues to balance restructuring efforts with financial pressures. The dividend approval and ongoing steel division negotiations will shape its near-term outlook. The company's next financial update is due in mid-February.
