Thyssenkrupp Prepares for Major Changes with TKMS IPO and Steel Sale
Thyssenkrupp is set to undergo significant changes with the upcoming IPO of its marine division, TKMS, and the sale of its steel division. The company's share price has surged over 200% this year, reaching new highs, as it prepares for these transformations.
TKMS, Thyssenkrupp's marine division, is gearing up for an IPO on October 20. Analysts have valued it at 2.3 to 2.7 billion euros. Thyssenkrupp aims for average annual sales growth of 10%, with Deutsche Bank raising its price target for TKMS shares to 11.50 euros.
The company's order book has tripled to 18.6 billion euros in the past five years, with an expected medium-term operating margin of over 7%. Despite a mixed analyst recommendation, some sources suggest a 'very bullish' outlook, recommending buying or adding to positions based on recent developments.
Czech billionaire Daniel Kretinsky has ended talks for a joint venture in Thyssenkrupp's steel division and sold his 20% stake back to the company. Indian steel giant Jindal Steel International is set to acquire the steel division, promising decarbonization and competitiveness.
Thyssenkrupp's IPO of TKMS and the sale of its steel division mark significant changes for the company. Despite mixed analyst recommendations, the company's strong financial performance and promising outlook indicate a positive future. Investors will closely watch these developments as they unfold.
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