Dow Jones Newswires: Thyssenkrupp reports wider loss and sets new guidance [MarketWatch]
THYSSENKRUPP AG S/ADR (TKAMY)
NASDAQ:AMEX Investor Relations:
thyssenkrupp.com/en/investors
Company Research
Source: MarketWatch
Thyssenkrupp reports wider loss and sets new guidance Thyssenkrupp AG said Thursday that net loss for its fiscal year 2019 widened and that it expects a bigger loss next fiscal year due to restructuring costs. The German industrial conglomerate TKA, -8.97% posted a net loss of 304 million euros ($336.5 million) for the fiscal year ended Sept. 30, compared with a loss of EUR62 million a year earlier. Net sales rose slightly to EUR42 billion from EUR41.53 billion a year before, the company said. Order intake for the full group was EUR41.99 billion, up from EUR41.49 billion a year earlier. The company, which makes steel, elevators and auto components, said its adjusted earnings before interest and taxes fell to EUR802 million from EUR1.44 billion in its previous financial year. “The performance of many of our businesses is not satisfying,” Chief Executive Martina Merz said, adding that needed structural improvements and restructuring measures hadn’t been implemented with the necessary
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