Thyssenkrupp plans TK Axilis trading debut on 28 October
Key Facts
Thyssenkrupp confirmed that shares in its materials trading and supply chain services company, TK Axilis, are scheduled to start trading on 28 October, Reuters reported. The transaction involves spinning off a stake in the company and distributing it directly to shareholders of the German group as part of a reorganisation of its businesses. Dow Jones cited a company statement saying Germany's financial regulator had approved the securities prospectus for the transaction. The shares are to be listed on the Frankfurt Stock Exchange's Prime Standard segment, which carries enhanced disclosure requirements, according to Thyssenkrupp's statement. Axilis is the group's largest division by sales, giving its spin-off significance in the parent's transformation.
Under the announced spin-off structure, 49% of Axilis shares will pass directly to Thyssenkrupp shareholders, according to the group's statement on shareholder approval. The parent will retain a majority stake of 51% after completion, maintaining control despite the business's separate listing. Shareholders approved the spin-off at an extraordinary general meeting held on 7 August 2026. In the quarterly results statement, Chief Executive Miguel López linked the independence of the businesses to the plan to create a lean financial holding company. He described the intended structure as comprising "strong, independent businesses with clear strategic directions under the umbrella of a lean financial holding company".
Axilis posted sales of about 11.4 billion euros in fiscal 2024/25, according to the company's presentation of its strategy and targets ahead of independence. The company employs about 15,500 people, according to Reuters, reflecting the operational scale of the business being spun off from the group. Its operations span 30 countries through a network combining materials trading and supply chain services. Its adjusted earnings before interest, taxes, depreciation and amortisation margin was 2% in fiscal 2024/2025, according to the news agency. These results put the business on a path towards improving profitability, with targets set out in the strategy the company presented ahead of independence.
In its latest published quarterly results, Thyssenkrupp attributed improved sales at its Materials Services division to higher volumes and prices. The group said the improvement was particularly evident in its North American distribution business, according to the results statement. It also cited international trading among the businesses that benefited from higher volumes and prices during the period. At the market level, the company views the shift towards regional supply chains as one of the growth drivers underpinning its strategy. It also cites government infrastructure programmes in Europe and North America, according to its presentation of Axilis's targets ahead of independence.
The Materials Services division has operated under the "TK Axilis" brand since June, according to Thyssenkrupp's quarterly results statement. The adoption of the brand was part of the division's transformation into an integrated supply chain services provider, the operational direction accompanying the spin-off. The strategy includes expanding materials services, according to the group's statement on shareholder approval of the transaction. Thyssenkrupp defined the purpose of this expansion as "making it less dependent on fluctuations in materials prices". This approach links service development to reducing the business's sensitivity to price movements, following its recent benefit from rising prices.
Over the medium term, Axilis targets compound annual sales growth exceeding 4%, according to the financial targets announced by the company. It also targets an adjusted earnings before interest, taxes, depreciation and amortisation margin of between 4 and 5% as a future goal. On the transaction timetable, Dow Jones reported that the spin-off and share allocation will take place on 27 October. Subsequently, Thyssenkrupp's calendar sets 8 December 2026 as the publication date for its annual report for fiscal 2025/2026. The report covers the fiscal year running from October to September, according to the group's published calendar.