Pressed steel weakness operating profit of ThyssenKrupp

Pressed steel weakness operating profit of ThyssenKrupp

15.05.2012 Dusseldorf – ThyssenKrupp expects because of the ailing steel business in the current fiscal year with a significant decline in operating profit.

The company Peile for 2011/12 (per end September) reported adjusted for special items earnings before interest and taxes (EBIT) in the middle three-digit million euro range of, ThyssenKrupp announced Tuesday with. In the last fiscal year, the steel maker still around 1,8 Billion € retracted. Suffered from January through March had CEO Heinrich Hiesinger also in the European steel business losses, while in America the new steel plants continued losses attributed.

“Overall, we expect, that we have passed the trough in earnings”, Hiesinger said. In continuing operations – So without standing in front of the sale of Outokumpu Stainless daughter Inoxum – shrank in the second quarter, adjusted EBIT to 134 Millions of € 435 Million. In the first half went ThyssenKrupp 217 Million € a. In the second half of Peile, the Group's “moderate increase” compared with the first half of.

Calculated from the adjusted figures, the company expects results and disposal costs for restructuring out. Unadjusted and including Inoxum ThyssenKrupp recorded in the first half of a loss of around one billion euros. “The report reads very disappointing overall”, said a dealer. The stock came under pressure premarket.

THYSSENKRUPP SOLD IRON DAUGHTER WAUPACA

The steel industry around the world leader ArcelorMittal suffers from weak demand. Especially in the debt-ridden countries of southern Europe to keep the customer back with orders. At the same time provide an over-capacity pressure on prices. ThyssenKrupp melted in the second quarter, adjusted EBIT in the European steel business to 30 Million €. In the same period last year it was ten times as much was. The American steel division posted a loss of 228 Million € – in the previous year, the deficit was, however, even on 319 Million € estimated.

With the sale of investments came forward, however Hiesinger. For the U.S. cast iron subsidiary of the company had at Waupaca 14. KPS Capital Partners in May with New York signed a purchase agreement, it said. The negotiations with various interested parties for the sale of feathers- and stabilizers business and the daughter of tailored blanks would continue.
(Reuters)

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