Thyssenkrupp: slight loss in Q3

(CercleFinance.com) - thyssenkrupp has reported a net loss (group share) of E54m for Q3 2023-24, reflecting restructuring expenses and the sale of its 55% stake in thyssenkrupp Industries India in May.


The German industrial conglomerate's adjusted EBIT fell 39% to E149m, weighed on by price and demand effects in its steel business, as well as exceptional items in its decarbonisation technologies segment.

Sales and order intake fell "significantly", to E9bn and E8.4bn respectively, in a persistently difficult market environment that weighed on key customer sectors such as the automotive and construction industries.

Against this backdrop, Thyssenkrupp says that last month, in a preliminary publication, it lowered its targets for the current financial year, with adjusted EBIT expected to exceed E500m and an anticipated 6%-to-8% drop in sales.


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