Eisen- & Huettenwerke AG

Latest Results (02.09.2026):

Eisen- & Huettenwerke AG — reporting on the fiscal year 2024/2025 (FY 2024/25; Q4 ending 30.09.2025). The company — a pure holding for the Rasselstein and Electrical Steel participation circles — delivered a materially stronger participation result in 2024/25 driven largely by the closing of the sale of thyssenkrupp Electrical Steel India and improved operating performance at Rasselstein: total received Ausgleichszahlungen rose to about €93.96m (prior year €8.14m), the company recorded a Jahresüberschuss of €92.67m and a Bilanzgewinn of €93.05m. Consolidated participation revenues (reported for the two groups) increased to €2,491m, volumes rose by 66 kt, investments were €35m and the balance sheet and liquidity remained strong (equity ratio 98.1%).

Key earnings

The Beteiligungsergebnis (central KPI) rose from €8.1m to €93.96m, reflecting variable Ausgleichszahlungen of ~€94.0m received from thyssenkrupp Steel Europe AG. Jahresüberschuss was €92,671k (≈ €92.67m) and Bilanzgewinn €93,050k (≈ €93.05m).

Revenue and volumes

Reported Umsatzerlöse for the participation circles increased from €2,354m to €2,491m. Total shipped volumes rose by 66 kt to 1,472 kt (Rasselstein +95 kt to 1,305 kt; Electrical Steel -29 kt to 167 kt, the latter reduced by the India divestment).

One‑off transaction impact

The sale of thyssenkrupp Electrical Steel India closed on 30.01.2025 for ~€440m and generated a significant disposal-related gain allocated to the Electrical Steel participation: variable Ausgleichszahlung for Electrical Steel ≈ €84.965m (versus a fixed €0.498m), and for Rasselstein ≈ €8.994m (above its fixed payment).

Investments, depreciation and R&D

Group investments in the two participation circles totaled €35m (down from €44m prior year); depreciation amounted to €46m. R&D spending within the participation circles was €10.8m (Rasselstein €7.1m; Electrical Steel €3.7m), focused on process, coatings and quality improvements.

Balance sheet and liquidity

Balance sheet total rose to €189,982k (≈ €190.0m) from €104,809k; equity ratio was 98.1% (prev. 97.8%). The company remained in the group cash‑pool and reported liquidity as secure throughout the year.

Cashflow and shareholder distributions

Key cash movements included receipt of Ausgleichszahlungen and a dividend payout of €8.8m in March 2025. The holding’s own Umsatzerlöse (intercompany recharges) remained small and unchanged at €144k.

Workforce

Average headcount across EHW and its participation companies fell from 3,761 to 3,199, mainly due to the sale of the Indian business; the Eisen‑ & Hütt enwerke AG itself had on average two employees in the year.

Main risks and outlook

Operational upside in Rasselstein and a strong one‑off at Electrical Steel improved results, but the report highlights ongoing market risks: weaker global steel demand, aggressive low‑price imports (especially from China), and evolving trade measures (US tariffs, new EU and third‑country duties) that may pressure prices and volumes going forward. Management states no present risks threatening the company’s existence and highlights continued integration into thyssenkrupp’s risk/control framework.