DUISBURG (dpa-AFX) - ThyssenKrupp AG (TYEKF.PK), a German industrial engineering and steel company, on Wednesday reported a narrower net loss for the second quarter, but with a decline in sales as well as order intake.
The Group's net loss, after deducting non-controlling interest, totaled 78 million euros, narrower than last year's 223 million euros. Loss per share came at 0.13 euros, compared to last year's loss of 0.36 euros.
Adjusted EBIT for the quarter was 184 million euros, lower than 205 million euros last year, due to positive one-time effects in the prior year.
For the second quarter, the Group's sales slid to 9.1 billion euros from 10.1 billion euros last year, while order intake declined to 8.6 billion euros from 10.2 billion euros. The sales results were mainly attributed to price- and demand-induced declines at Materials Services and Steel Europe.
Looking ahead, due to volume reductions and lower prices at Steel Europe and Materials Services, Thyssenkrupp said it now expects sales for the 2023/2024 fiscal year to be below the prior-year level.
The Group also continues to anticipate that adjusted EBIT will rise to the high three-digit million euro range versus prior year's 703 million euros.
(Amendment: Corrects and replaces Q1 with Q2)
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