Overview
- Trading opened at €60 and quickly jumped toward roughly €90–100 before stabilizing in the €80s, valuing TKMS at about €5.3 billion.
- Thyssenkrupp distributed one TKMS share for every 20 Thyssenkrupp shares and retains majority control with a 51% stake.
- Thyssenkrupp’s shares fell around 17–20% on the day as the spin-off re-priced the parent company.
- TKMS lists with an order backlog of about €18.5–18.6 billion, providing production visibility into the early 2040s.
- CEO Oliver Burkhard set goals for roughly 10% annual revenue growth, >7% EBIT margin and a 30–50% payout ratio, and traveled with Germany’s defense minister to Canada to pursue a major submarine tender.