Industrial group, ThyssenKrupp writes high losses

For ThyssenKrupp Boss Martina Merz is to high losses, the pressure is always greater to find a solution for the Corona-crisis hard hit the steel business. The d

Industrial group, ThyssenKrupp writes high losses

For ThyssenKrupp Boss Martina Merz is to high losses, the pressure is always greater to find a solution for the Corona-crisis hard hit the steel business. The division contributed significantly to the group for the continuing operations, i.e. excluding the sold the Elevator business in the first nine months of fiscal year 2019/20 (end of September) an operating loss of 1.12 billion euros of imports. The loss in the steel struck alone, with around 700 million euros, the company said on Thursday. Merz has ruled out a sale of the tradition of business nor a merger.

In the other businesses, the group sees a glimmer of hope. "Depending on the dynamics of just the beginning of the recording of the production at the customers again expected to ThyssenKrupp for the 4. Quarter, with the possible exception of Steel Europe in almost all shops a stable development or a slight improvement compared to the previous quarter.“

Still, he expects in the final quarter with a negative adjusted Ebit of the continuing operations in the mid-to-higher three-digit million Euro range. For the full year, a loss of 1.7 to 1.9 billion euros was likely.

“in the Meantime, although we see signs of stabilization. However, the upcoming restructuring and tidying up of our balance sheet will continue to weigh on earnings in the current quarter,“ pointed out Merz. "With the Proceeds from the Elevator business, we can tackle these overdue measures are finally consistent." ThyssenKrupp had sold in the spring of his only-yield pearl for 17.2 billion euros.

Updated Date: 13 August 2020, 18:19

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