Thyssenkrupp: stock down after Q2 results
(CercleFinance.com) - Thyssenkrupp shares are down nearly 2% in Frankfurt after the German industrial group announced a net loss of E223m euros for Q2 (ending March), against a profit of E565m a year earlier.
Its adjusted EBIT almost halved to E205m, with revenues down 5% to E10.1bn, which it said is in a difficult environment with persistently high energy prices and inflation, while its order intake fell a quarter to E10.2bn.
Nevertheless, Thyssenkrupp says it now expects a slightly positive free cash flow before M&A for the current financial year as a whole (and no longer "at least at break-even"), while confirming its other targets.
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Its adjusted EBIT almost halved to E205m, with revenues down 5% to E10.1bn, which it said is in a difficult environment with persistently high energy prices and inflation, while its order intake fell a quarter to E10.2bn.
Nevertheless, Thyssenkrupp says it now expects a slightly positive free cash flow before M&A for the current financial year as a whole (and no longer "at least at break-even"), while confirming its other targets.
Copyright (c) 2023 CercleFinance.com. All rights reserved.