The company's sales decreased in an environment of subdued market conditions and totaled EUR 35.0 billion. In the previous year, this figure amounted to EUR 37.5 billion. Adjusted EBIT reported at EUR 567 million, down from EUR 703 million in the previous year but it is still within the forecast range.
Materials Services and Marine Systems improved their profitability, while Steel Europe and Automotive Technology experienced a greater impact from the challenging market conditions. Decarbon Technologies recorded a decrease due to higher costs in cement engineering projects.
Free cash flow prior to mergers and acquisitions reported positive at EUR 110 million and above the previously estimated amount. The positive free cash flow before mergers and acquisitions resulted in an increase in net financial assets to EUR 4.4 billion as of the reporting date from EUR 4.3 billion in the previous year.
thyssenkrupp AG CEO Miguel López stated: “Despite the very challenging market conditions, we achieved a respectable result in the past fiscal year, continued implementing the transformation of the thyssenkrupp group with great determination and made key progress.”
Jens Schulte, CFO of thyssenkrupp AG emphasized: “In order to create the necessary financial headroom for the continuing transformation, we will be using APEX 2.0 to now focus more on structural issues as well. In this way, we will establish the conditions for continuing to make progress, even in a difficult market situation.”
thyssenkrupp expects to increase sales by 0 to 3% in the fiscal year 2024/2025, despite the declines at Decarbon Technologies and Marine Systems.
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