Source: thyssenkrupp

• 1st quarter 2019/2020 sales at prior-year level
• Operating earnings down year-on-year particularly due to market situation at Steel Europe
• Restructuring measures proceeding to plan
• Full-year forecast for current fiscal year unchanged

In a difficult economic environment, thyssenkrupp’s saleswere virtually stable at €9.7 billion in the first three months of the current fiscal year 2019/2020. While the capital goods businesses achieved in some cases double-digit growth rates, the materials businesses were clearly impacted by price and volume losses. This is also reflected in order intake, which was 4 percent lower overall at €9.7 billion. Adjusted EBITamounted to €50 million and as expected was down from the prior year (€217 million) particularly due to the situation at Steel Europe and a general weakening of the automotive market.

“The latest figures are not great. But we are convinced that we are on the right track. A decision on the Elevator transaction is imminent, the negotiations with codetermination representatives on the Steel strategy are making progress, and we are improving our performance. The bottom line: We are moving in the right direction,” says Martina Merz, Chief Executive Officer of thyssenkrupp AG.

Source: thyssenkrupp