ThyssenKrupp: down sharply after interim results
(CercleFinance.com) - The trailer in DAX 30 index in Frankfurt this morning, down over 3%, the ThyssenKrupp share has been hit by the German industrial group's interim publication.
While forecasts have been confirmed and that its planned steel joint venture with Tata Steel is still on track, its order intake has dropped significantly - especially in Q2.
The group ended the first half of its fiscal year 2017/2018, i.e. until March, with net sales (excluding its US division, which it has now sold) that are down 2% at 20.6 billion euros.
However, operating profit adjusted for the same factors rose by 34% to 944 million euros (with 21% growth in Q2, to 500 million euros), raising the group's margin from 3.5% to 4.6%. Finally, net income, group share came in at 321 million euros as reported, compared with a loss of 871 million euros a year earlier.
Still, the group's order intake (excluding the US division), an indicator of future business, fell by 5% to 20.2 billion euros over the period, and was down 10% in Q2 alone, at 10.5 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
While forecasts have been confirmed and that its planned steel joint venture with Tata Steel is still on track, its order intake has dropped significantly - especially in Q2.
The group ended the first half of its fiscal year 2017/2018, i.e. until March, with net sales (excluding its US division, which it has now sold) that are down 2% at 20.6 billion euros.
However, operating profit adjusted for the same factors rose by 34% to 944 million euros (with 21% growth in Q2, to 500 million euros), raising the group's margin from 3.5% to 4.6%. Finally, net income, group share came in at 321 million euros as reported, compared with a loss of 871 million euros a year earlier.
Still, the group's order intake (excluding the US division), an indicator of future business, fell by 5% to 20.2 billion euros over the period, and was down 10% in Q2 alone, at 10.5 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.