thyssenkrupp Community

Europe's steel demand during next 5y will rise significantly (20% CAGR) due to increased spending on defense automotive & housing revovery (2026 onwards) Ukraine's "Marshall plan" climate related infrastructure spending Energy costs in Germany to stabilize and drop due to combination of Global oversupply in major Energy related commodities, "Energie wende 2030" and to be elected (Feb25) more pro business oriented Govt. Soon to be cancelled Nippon's M&A of US Steel ($14bn deal) will provide additional valuation updrift for TKA being identifiend by us as the best / most attractive M&A target in Europe's steel business (with robust&healthy B/S).

Key Takeaways Market optimism around green steel and digitalization may be overstated, given execution risks, high costs, and potential delays impacting profit growth and cash flow. Key business segments face weak demand and restructuring headwinds, while external risks may limit expected gains from defense, US growth, and sustainability trends.