Thyssenkrupp is becoming more optimistic
The industrial group is becoming more confident thanks to the economic recovery in the world and has raised its annual targets. The steel division, which has recently been flagging, has also recovered.
Dhe industrial group Thyssenkrupp is getting better and better on track thanks to the global economic recovery after the Corona crisis. The company raised its forecasts on Tuesday after growth in the past quarter. The steel division, which had recently been flagging, was also able to grow operationally. In the full year 2020/21, which runs until the end of September, CEO Martina Merz still expects a loss on balance. Once again, she encouraged investors to understand that it would take many small steps to make the Ruhr group profitable.
In the operating business (adjusted EBIT), a significant increase up to a result in the mid three-digit million euro amount is expected in the financial year, the company announced. So far, Thyssenkrupp had only promised an almost breakeven operating result – after a previous pro forma loss of 1.8 billion euros. Thanks to a recovery in demand, the group was able to grow in almost all sectors in the second quarter of 2020/21 – including the steel business. Operationally, the group brought in 220 million euros and thus exceeded market expectations. According to a presentation, the adjusted EBIT will be lower in the third quarter than in the second.
The share price of the company listed in the M-Dax fell by around 5 percent.
No bang, just small steps
“We made up ground in the second quarter,” said Merz: “On the one hand, the recovery in many of our markets helped us. On the other hand, our measures to increase performance are showing the planned effect. That is good and makes us confident. “
Merz had carefully examined all divisions, including the steel business. After the failed takeover by British competitor Liberty Steel, Thyssenkrupp Steel Europe is to be restructured and then possibly split off and floated on the stock exchange.
Merz is also pushing ahead with shedding several thousand jobs. She doesn’t want to make quick shots. “But we also know very well that there is still a lot of work ahead of us. That is why there is no rest here. The realignment of Thyssenkrupp remains a path of many small steps – and we are taking them. ”