Net loss, the largest industrial concern in Germany in the first half of the 2019-2020 financial year amounted to 1 billion 310 million euros compared to 93 million euros in the same period of the previous year. Losses per share were -2,12 euros (previous year: 0.18 Euro).
Quarterly net sales fell to 10.11 billion euros from 10.64 billion euros, while orders were down 8% to 9.54 billion euros for this period. The company reported that adjusted earnings before interest and tax fell to minus EUR 80 million with a positive result in 240 million euros a year earlier.
"coronavirus Pandemic poses a huge problem. The magnitude of the crisis are still not predictable for our business. But it is clear that the economic problems will leave very deep traces", comments Martina Merz, CEO ThyssenKrupp.
the company noted that orders and sales in the steel division were on 9 and 11 percent lower than in the previous year. Adjusted EBIT fell in the area of losses at the level of -372 million euros.
because of the uncertainty of pandemic ThyssenKrupp withdrew its forecast for the current fiscal year at the end of March. However, the company does not exclude that in the third quarter losses will exceed 1 billion euros.
Recall that in late April, Thyssenkrupp received public assistance in the amount of about 1 billion euros, as an emergency support business is seriously affected by quarantine measures in Europe.
