DUISBURG (dpa-AFX) - ThyssenKrupp AG (TYEKF.PK), a German industrial conglomerate, on Wednesday reported a net loss for the third-quarter reflecting a decline in sales, and higher negative special items, including restructuring expenses at Decarbon Technologies, Materials Services, and others.
In addition, the company has revised down its annual outlook.
For the three-month period to June 30, the Group posted a net loss of 54million euros or 0.09 euro per share, compared with a profit of 83 million euros or 0.13 euro per share, reported for the same period last year.
Pre-tax income stood at 26 million euros as against previous year's 174 million euros.
EBIT slipped to 84 million euros from 212 million euros in 2023.
Excluding items, EBIT was also down at 149 million euros, compared with 243 million euros in 2023.
EBITDA was 257 million euros, lower than 445 million euros a year ago.
Net financial expenses moved up to 39 million euros from prior year's 29 million euros.
Loss from companies accounted for using the equity method was 28 million euros, compared with a loss of 10 million euros a year ago.
Income from operations plunged to 64 million euros from 202 million euros in 2023.
General and administrative expenses were 413 million euros, up from last year's 395 million euros.
Selling expenses stood at 638 million euros, higher than 614 million euros last year.
Research and development cost rose to 62 million euros from prior year's 54 million euros.
Order intake was down at 8.355 billion euros, compared with 9.390 billion euros a year ago.
Sales for the period dropped to 8.986 billion euros from previous year's 9.598 billion euros.
Looking ahead, for the full year, ThyssenKrupp now expects a negative net profit figure in the mid to high three-digit million euro range against prior guidance for an increase to a negative figure in the low three-digit million euro range.
Adjusted EBIT is now expected to decrease to a figure of over 500 million euros against previous outlook for an increase to a figure in the high three-digit million euro range.
Sales are now projected to decrease by 6 percent to 8 percent, compared with the prior outlook for a decline below last year's, as a result of the continued challenging market environment.
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