Performance first

The principle of "performance first" applies equally to all our businesses.

In the initial phase, “performance first” means we will focus above all on stabilizing our businesses even in the current difficult environment. Only then, in a second phase, can we further develop our competitiveness so that all our business areas can occupy leading market positions.

Our medium-term targets remain the same for the new thyssenkrupp and we have a clear plan as to how we will achieve these goals. We have businesses in our portfolio where the progress to date and the current market situation do not satisfy us from today's perspective. The “Performance first” principle also means we are examining whether and how we can further develop these businesses sustainably. This currently affects three businesses in particular: Springs and Stabilizers, System Engineering and Heavy Plate. We see opportunities for these businesses to develop further, but not necessarily under the roof of thyssenkrupp.

Our new Group-wide performance program also includes the previously announced reduction of 6,000 jobs. However, our aim remains the same: to find the best possible way to create change together with our employees and in mutual interest. At the end of the calendar year, we will also be able to provide more information on this topic.We will be publishing more information in this regard and on the three businsses Springs and Stabilizers, System Engineering and Heavy Plate at the end of the calendar year.


Flexible portfolio

In the future, we will measure our success based on the best possible development of our businesses - not our majority stake in them. Since May, we have been holding various talks to explore portfolio options and possible partnerships in all areas. Since our announcement, we have seen a clear interest from strategic investors in our businesses.

The IPO of thyssenkrupp Elevator is a first example of how we will manage and further develop thyssenkrupp's portfolio in the future. The IPO will strengthen our capital base in the long-term. We will use the capital to press ahead with the necessary reorganization of the Group which includes investments in growth and active portfolio management as well as partnerships.

Preparations for the IPO are underway. We expect to complete the carve-out by the end of calendar year 2019. Depending on the capital market environment, we aim to go public in the course of fiscal 2019/2020. In view of the high level of interest, we will examine not only the IPO but also the existing expressions of interest from potential interested parties.


Efficient organization

Our goal is also to become leaner, faster and easier. For this reason, we will develop a fundamentally new organizational and management model that centers on the performance of our employees. This applies to all business units and all levels. Our businesses need more entrepreneurial freedom, but also more responsibility.

We will streamline Group headquarters and reduce administrative costs here from the current €380 million to below €200 million over the next two years. We also see considerable savings potential in the rest of the Group by simplifying our structures. We will announce further details at the end of the calendar year.


Why does thyssenkrupp need a new strategy?

What exactly is the new strategy for the thyssenkrupp Group?

What does it mean that the Heavy Plate, System Engineering and Springs & Stabilizers businesses are “under review”?

When will there be first sales or acquisitions?

Will there be job cuts?

What is the status of thyssenkrupp Elevator's preparations for IPO?

What will happen next at thyssenkrupp Steel?