thyssenkrupp Marine Systems continues its course of strong growth in business year 2023/2024

• Sales (€ 2.1 billion), adj. EBIT (€ 125 million) and order intake (€ 1.5 billion) significantly higher than prior year

• Extensive order expansions

• Strong new orders in naval electronics

In the current financial year 2023/2024, thyssenkrupp Marine Systems was able to continue the positive development of the previous year, despite the challenging market environment. Sales totalled € 2.1 billion (previous year: € 1.8 billion). The decisive factor here was the final invoice for delivery of a submarine to a customer in Asia during the 4th quarter. Over and above that, the Services and Naval Electronics units made appreciable gains.

Order intake increased to € 1.5 billion (previous year: € 1.0 billion). Although no orders for newbuilding projects were booked, there were extensive order expansions and, in particular, strong order intake in the Naval Electronics segment. At the end of the business year, the orders on hand amounted to € 11.7 billion.

Oliver Burkhard, CEO thyssenkrupp Marine Systems, declared: “We can once again look back at a positive development over the past fiscal year. The large number of order extensions, which underline the trust of our customers in our innovative strength and quality, is particularly pleasing. As a maritime powerhouse, we want to defend our strong position in international competition. With an independent placement, which we are continuing to pursue intensively, we can best exploit the growth opportunities that present themselves.”

Adjusted EBIT reached € 125 million (previous year: € 73 million), thus presenting a significant increase compared to the prior period. This positive development is primarily a result of the final invoice mentioned above, together with the progress made with the projects in the newbuilding business, as well as the solid development in the Services and Naval electronics segments. In addition, efficiency gains were achieved in the areas of material management, personnel and administration.

Paul Glaser, CFO thyssenkrupp Marine Systems, commented: “These figures show that we have made very good progress in transforming our company, despite the difficult environment. This represents a most positive start to the new business year and an incentive to do even better. We will not rest on our laurels in the future and will continue to work hard at boosting the performance of our operations.”

Besides the strong position in the surface sector, thyssenkrupp Marine Systems is the world market leader in the construction of conventional submarines: Production of the 212CD submarines for Germany and Norway – the largest order in the company’s history – is on schedule. Discussions are underway on possible option boats. The delivery of a MEKO® A200 frigate to Egypt, the naming of the submarine “Inimitable” for Singapore, the naming of the first Tamandaré frigate and the keel-laying of the second ships of this Class at the shipyard in Brazil all underscore the successes of the past business year.

To meet the steadily growing demands, thyssenkrupp Marine Systems will advance its position as a maritime powerhouse and push ahead with integrated system solutions over the coming months. With this in mind, thyssenkrupp AG will continue to intensively pursue the path of independence for the naval segment on the capital market, while also remaining open to industrial partnerships. At the same time, negotiations are underway with the Federal Government and KfW Bank regarding the state’s participation in thyssenkrupp Marine Systems.

About thyssenkrupp Marine Systems
thyssenkrupp Marine Systems is one of the world’s leading naval companies with over 8,000 employees at three shipyards in Kiel, Wismar and Itajaí (Brazil) with locations worldwide. The company is active as a systems supplier for submarines and naval surface vessels as well as for maritime electronics and security technologies. Around 3,300 people work at the Kiel site, making it the largest shipyard location in Germany. 185 years of history and the constant striving for improvement allow the company to set new standards time and time again. thyssenkrupp Marine Systems offers its customers worldwide tailored solutions to meet the highly complex challenges of a changing world. The driving forces behind this innovative energy are the company’s employees, who shape the future of thyssenkrupp Marine Systems with passion and commitment every day.