thyssenkrupp: 'cautiously optimistic' for fiscal 2018/2019

(CercleFinance.com) - thyssenkrupp is "cautiously optimistic" for its current fiscal year 2018/2019, expecting to increase operating profit after the "turbulent" and "challenging" past fiscal year.


Germany's biggest steelmaker aims to achieve adjusted EBIT from the continuing operations of over 1 billion euros in 2018/2019, from 706 million euros in FY 2017/2018.

The industrial and technology group said adjusted EBIT came in at 1.6 billion in the past fiscal year, down from 1.7 billion euros in the previous year.

thyssen also presented the roadmap for the group's planned separation, with its materials business on one side and and capital goods businesses on the other.

thyssenkrupp aims to have this separation approved by shareholders in January 2020, meaning that both companies will be operating as separate entities as of October 2019.

The stock is currently up about 1% in Frankfurt after this report.

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