German producer Thyssenkrupp made a mixed financial update on Thursday, noting difficult market conditions and highlighting some areas of improvement.<\/p>\n
The group posted a net loss of \u20ac33 million from October \u2019 to December \u2019 following a loss of \u20ac305 million in the same quarter of the previous year.<\/p>\n
Meanwhile, the group's sales fell from 8.2 billion Euro\u2019 last year to 7.8 billion Euro\u2019 due to weak demand and low prices.<\/p>\n
Jens Schulte, CFO \u2019 at Thyssenkrupp, said: \"Despite the challenging market environment, we improved our performance in the first quarter.<\/p>\n
Interest and pre-tax adjusted earnings (EBIT) rose significantly to \u20ac191 million in the first fiscal quarter ending December 31, \u2019, thanks to the firm's focus on cost efficiency.<\/p>\n
The increase in \u201cEBIT\u2019 is proof that our structural measures, especially to increase efficiency and reduce costs, were initially successful, Schulte said. We will continue to systematically work on these measures in the future.\u201d<\/p>\n
Support from the marine project<\/b><\/p>\n
Free cash flow before mergers and acquisitions also lost \u20ac21 million this quarter.<\/p>\n
This was supported by prepayments for a recent total, large maritime project, compared with a loss of 531 million Euro\u2019 from the previous year.<\/p>\n
General order intake on an annual basis %More than 50\u2019 increased to 12.5 billion Euro\u2019 between October and December.<\/p>\n
Thyssenkrupp expects a positive cash flow figure ranging from \u20ac0 to \u20ac300 million for the entire fiscal year 2024\/2025.<\/p>\n
Previously, a loss of between \u20ac200 million and \u20ac400 million was expected.<\/p>\n
Restructuring continues<\/b><\/p>\n
Miguel L\u00f3pez, CEO of Thyssenkrupp\u2019, added in the fiscal update that the manufacturer is continuing its restructuring efforts.<\/p>\n
He added that the transformation was driven by \u201c's passion for strengthening the competitiveness of our businesses, ensuring sustainable growth and thus protecting employment in the long term.<\/p>\n
Thyssenkrupp said it is continuing its plans to split its steel business in the European \u2019 and that the group is also planning to go public with its maritime unit.<\/p>\n
Regarding the second part, which produces military ships and submarines, Thyssenkrupp said he was aware of the large orders accumulated.<\/p>\n
Separating the unit while preserving the share could allow the manufacturer to benefit from increased military spending.<\/p>\n
Due to geostrategic developments, the segment expects demand to continue to rise in the future, \u201c said in a statement Thursday.<\/p>\n
\u201cThe sought-after independent solution will make it possible to make the most of this potential. For this purpose, the announced division of maritime systems is quickly followed.\u201d<\/p>\n
Predictions for next year<\/b><\/p>\n
Sales at Thyssenkrupp\u2019's decarbonization technologies unit were significantly higher than in the previous year, and the firm added that this division, \u201cmuazzam\u201d, has a growth potential.<\/p>\n
Sales for the full fiscal year 2024\/2025 %With a 0 %Compared to the previous growth forecast of 3 xpects it to decrease or remain stable until \u2019e.<\/p>\n
Thyssenkrupp\u2019 is expected to make an estimated profit of between \u20ac100 million and \u20ac500 million, while adjusted EBIT\u2019 is estimated to be in the range of \u20ac600 million to \u20ac1 billion.<\/p>","protected":false},"excerpt":{"rendered":"
Thanks to the efficiency move of the German company, earnings increased despite weak sales. Meanwhile, Thyssenkrupp\u2019's military units expect increased defense spending.<\/p>","protected":false},"author":1,"featured_media":2420,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[597,304,596,583],"class_list":["post-2419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-genel","tag-baslangic","tag-said","tag-thyssenkrupp","tag-yil"],"_links":{"self":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/posts\/2419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/comments?post=2419"}],"version-history":[{"count":0,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/posts\/2419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/media\/2420"}],"wp:attachment":[{"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/media?parent=2419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/categories?post=2419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lojistiknakliye.com\/en\/wp-json\/wp\/v2\/tags?post=2419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}