thyssenkrupp is an international industrial and technology company employing around 100,000 people. Since October 1, 2023, its business activities have been bundled into five segments: Automotive Technology, Decarbon Technologies, Materials Services, Steel Europe and Marine Systems.

Backed by extensive technological know-how, the businesses develop costeffective and resource-friendly solutions to the challenges of the future. Around 4,000 employees work in research and development at 75 locations all over the world, mainly in the fields of climate protection, energy transition, digital transformation in the industry and mobility of the future. thyssenkrupp currently has a portfolio of approximately 14,630 patents and utility models.

Under the thyssenkrupp umbrella brand the company creates long-term value with innovative products, technologies and services and contributes to a better life for future generations. To this end, the company pursues ambitious climate protection targets and optimises its own energy and climate efficiency.

At the same time, thyssenkrupp uses its diverse abilities along the relevant value chains to play a significant role in driving forward its customers’ green transformation.

Corporate strategy

To optimally develop the businesses of thyssenkrupp AG, the company is continuing to focus its transformation specifically on the opportunities for its technologies arising from futureoriented issues. For thyssenkrupp, the green transformation offers enormous potential for further profitable growth both now and, in particular, in the medium and long term such as in the areas of hydrogen, green chemicals, renewable energy, e-mobility and supply chains.

At the same time, thyssenkrupp strives to improve the performance of all its segments. The declared aims are for the segments to make a sustained positive value and cash flow contribution for the group and to pay a reliable dividend to its shareholders.

To achieve these goals, thyssenkrupp will consistently pursue the route it has embarked on. The framework for this comprises three areas of action: portfolio, performance and green transformation.


Having completed the divestment of individual activities in the course of its transformation and closed the heavy plate business in the Multi Tracks segment, in July 2023 thyssenkrupp successfully listed its electrolysis business, thyssenkrupp nucera, on the stock market. In this way, thyssenkrupp has created new financial headroom for its hydrogen subsidiary so that it can continue to grow and expand its market leadership.

At the start of fiscal year 2023/2024, thyssenkrupp took the next step in the sustainable realignment of its group. Since October 1, 2023, the bearings business Rothe Erde (reported separately as the Bearings segment as of September 30, 2023) Uhde, Polysius and thyssenkrupp nucera (all three reported in the Multi Tracks segment until September 30, 2023) have been bundled in the new Decarbon Technologies segment. All four businesses have key technologies for the decarbonisation of the industry.

By establishing this new segment, thyssenkrupp is positioning itself as a technology leader for the energy transition and ensuring full visibility of its extensive expertise for the green transformation. The former Multi Tracks segment has been dissolved. The remaining businesses from the Multi Tracks segment – Automation Engineering and Springs & Stabilisers – are now part of the Automotive Technology segment. Forged Technologies (reported as a separate segment as of September 30, 2023) is now part of Automotive Technology as the end-customer structure is the same.

Consequently, thyssenkrupp’s activities are now organised in five segments: Automotive Technology, Decarbon Technologies, Materials Services, Steel Europe, and Marine Systems. In the new Decarbon Technologies segment – its “green industry powerhouse” – thyssenkrupp strives to systematically access the enormous potential of the green transformation and translate it into value-creating growth. Taking thyssenkrupp nucera as an example, the aim is a turnaround to sustainably profitable business models. This applies above all for Polysius and Uhde, which have successfully embarked on the technological transformation towards green products and services in recent years.


The overarching goal of the transformation process is still to boost the performance and competitiveness of all its businesses. This is not simply crucial for the ongoing strategic strengthening the group; it is also the necessary prerequisite for generating a sustained positive free cash flow before M&A for the group and ensuring reliable dividend payments.

Among other things, this requires the businesses to quickly and sustainably achieve the financial targets announced at the Capital Market Day in December 2021 – which have now been adjusted to reflect the new structure – despite the persistently challenging conditions. To support this and the long-term improvement in its performance, the group rolled out a holistic performance programme in September 2023. The aim is for the businesses to raise their profitability to the competitive level and to make optimal use of their market opportunities.

The programme, which is called APEX (“peak”), focuses on optimising net working capital, with a stricter alignment of all businesses to competitive levels, stricter return and value creation criteria for investment decisions, continued development of its business models and an improvement in performance culture.

The businesses remain responsible for the implementation of the measures and their success. To manage this programme, thyssenkrupp has also set up a Transformation Office at thyssenkrupp AG. This provides proven methodological expertise and process support, a platform for exchange and knowledge transfer, and extensive competitive analyses and best-practice comparisons. Experts from the businesses have no w identified additional cash and performance measures at a range of workshops in the five areas of action: assets/CAPEX, business models and sales, material costs, net working capital and organisation. Some of these are already being implemented at segment level.

Green transformation

Thanks to its expertise in sustainable solutions in various sectors, thyssenkrupp is excellently positioned to drive forward the decarbonisation of industry and benefit from the associated business opportunities. The businesses in the new Decarbon Technologies segment in particular have innovative technologies that can reduce a large proportion of today’s carbon dioxide emissions.

Its portfolio also includes other promising products and solutions that are essential for the success of the green transformation.

Alongside the products and solutions that thyssenkrupp is driving forward for its customers and partners, thyssenkrupp is working intensively on the decarbonisation strategy for its own group. The release of the funding of around EUR2 billion thyssenkrupp has applied for the “tkH2Steel” project is a key step for thyssenkrupp to become a pioneer of climate-neutral steel production.

This 100 per cent hydrogen-capable direct reduction plant with an annual production capacity of 2.5 million tonnes direct reduced iron allows savings of up to 3.5 million tonnes of carbon dioxide a year. This makes thyssenkrupp a significant player in the European hydrogen economy, with the Duisburg site and the federal state of North Rhine-Westphalia as an anchor point for investments in the development of a cross-border hydrogen infrastructure.

Leader in climate Protection

For the eighth time in a row, CDP has recognised thyssenkrupp AG as one of the world’s leading companies in climate protection based on the data reported in the CDP Climate Change 2023 questionnaire.

The CDP acknowledged thyssenkrupp’s transparency and effective climate protection measures, awarding the company the highest score and again including it on the prestigious “Climate Change A List”. The CDP rating underscores thyssenkrupp’s commitment to making a significant contribution to decarbonisation and actively promoting the transition to a climate-friendly economy.

thyssenkrupp is one of 346 companies internationally on the CDP’s 2023 “Climate Change A List”, which includes 16 companies from Germany. CDP conducts its annual rating, among other things on behalf of over 740 financial institutions with over USD136 trillion in assets.

A pioneer of the green transformation, thyssenkrupp is actively leading the way when it comes to protecting the climate. The company is working apace to make carbon-intensive production processes transparent and, above all, to replace them with climate-friendly technologies.

One example of that is the construction of the first hydrogen-capable direct reduction plant at the Duisburg site – one of the world’s largest industrial decarbonisation projects – as part of the transformation toward climate-neutral steel production.

In addition, thyssenkrupp supports its customers in achieving their climate targets. The recently established Decarbon Technologies segment plays a key role in that. It pools the key technologies for enabling the expansion of wind energy, green hydrogen and green ammonia, a transport medium for green hydrogen and green cement.

Fertiliser plant in Brunei

thyssenkrupp Uhde combines unique technological expertise and decades of global experience in the engineering, procurement, construction and service of chemical plants. thyssenkrupp Uhde develops innovative processes and products for a more sustainable future and thus contributes to the long-term success of its customers in almost all areas of the chemical industry. Its portfolio includes leading technologies for the production of basic chemicals, fertilisers and polymers as well as complete value-chains for green hydrogen and sustainable chemicals.

In 2017, thyssenkrupp Uhde was selected by Brunei Fertilizer Industries Sdn Bhd (BFI) for the engineering, procurement and construction (EPC) of a new fertiliser production facility. thyssenkrupp Uhdes’ scope of supply for this fertiliser complex includes not only the engineering, but also the supply of equipment, erection, supervision of construction and commissioning as well as various offsite and related utility systems.

With a production capacity of 3,900 tonnes of urea and 2,200 tonnes of ammonia per day, it is one of the biggest fertiliser facilities in Southeast Asia. The plant reached a major milestone with the production of its first commercial urea to market specifications.

Safety has always been a top priority of thyssenkrupp Uhde, and this commitment applies to everyone involved in the new greenfield fertiliser project. thyssenkrupp Uhde stands for high safety standards, and occupational safety and health is a top priority for the entire thyssenkrupp Group. It is part of thyssenkrupp’s corporate culture and an important component of the competitiveness of the group.

Precisely for this reason thyssenkrupp Uhde’s commitment to safety is clear. During project execution the project with BFI reached more than five million safe man-hours worked without incident, a testimony to effective training and management. At peak times, there were more than 3,500 people working on the plant site. Providing a safe workplace has always been a priority for the entire thyssenkrupp group.

engineering. tomorrow. together.

thyssenkrupp uses its broad technological expertise to develop highquality products and high-performance processes and services. Under a strong umbrella brand, thyssenkrupp strives to make an important contribution to a better, more liveable and more sustainable future with its products and services. Its brand promise and the high standards it has set for itself are reflected in its motto ‘engineering. tomorrow. together.’ Together with its customers, thyssenkrupp strives to use its technologies and innovations to develop cost-effective and resource-friendly solutions to the challenges of the future.


Brunei Press Publications