thyssenkrupp: returns to profit in Q3
(CercleFinance.com) - On Wednesday thyssenkrupp announced its return to profit in Q3, although this was not welcomed by investors in Frankfurt.
Adjusted Ebit came in at 266 million euros in the April-June quarter, boosted by a sharp recovery in raw material prices.
Last year, the group reported a quarterly loss of 693 million euros.
The conglomerate - which aims to transform itself into a "high-performance" industrial group - also confirmed its forecast for adjusted annual Ebit of around 500 million euros, compared with a loss of 1.8 billion euros at the end of the previous financial year.
Martina Merz, its chief executive, warned however that the operating environment remained "particularly difficult".
Investors seemed to focus on these cautious comments - its shares are down over 6% after this publication.
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