SCHWeaker Global Economic Dynamic Weigh on ThyssenKrupp EarningsMOLZ + BICKENBACH Settles With German Federal Cartel Office

Release time：Nov 25, 2019 From：admin

In the past fiscal year thyssenkrupp achieved slight growth in a difficult economic environment. Order intake and sales both rose to EUR 42.0 billion, up 1 percent year-on-year. The capital goods businesses made a major contribution to this growth overall. In the materials businesses, on the other hand, growth was slowed by the increasingly weaker global economy, the substantial slowdown in the automotive sector and continued high import pressure on steel. This was accompanied by a massive rise in raw material prices. These factors also impacted operating earnings particularly in the auto components and materials businesses. The Group's adjusted EBIT of EUR 802 million as compared to previous year figure of EUR 1.4 billion. thyssenkrupp CEO Ms Martina Merz said "The performance of many of our businesses is not satisfying. This is also due to the fact that necessary structural improvements and restructuring measures were not implemented with the necessary consequence. We will now tackle this swiftly and systematically.”