Thyssenkrupp (tk) listed tk accelis on the Frankfurt Stock Exchange on Wednesday, with the entity formerly known as tk Materials Services fetching an initial market capitalisation of around €1.77 billion ($1.96 billion).
Tk has thus completed the spin-off of 49% of tk accelis’ 63.5 million shares while retaining a majority, 51% stake in the unit. The stock began trading at €27.80 and peaked at €30.70 during Wednesday morning trading.
“Listing on the stock exchange is the logical continuation of our successful transformation,” tk accelis chief executive Ilse Henne says in a note seen by Kallanish. “Now that we are an independent company, we have greater flexibility. We can invest the capital we generate more purposefully in high-margin growth areas and systematically expand our product and service portfolio.”
In the first nine months of fiscal year 2025/26, tk accelis sales stood at €9.1 billion and adjusted Ebitda at €256 million, corresponding to an adjusted Ebitda margin of 2.8%.
Over the medium term, tk accelis is targeting an adjusted Ebitda margin of 4-5% and annual sales growth of 4% at group level. This will be driven by a focus on higher-margin businesses with a greater services component, expansion in North America, and disciplined efficiency measures.
The listing is a step towards thyssenkrupp group’s ACES 2030 future model, says group ceo Miguel López. “We are continuing to develop thyssenkrupp from an integrated industrial conglomerate into a lean financial holding – more decentralised, more agile, and with clear accountability,” he adds.
Author: Adam Smith
