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11/23/2017, 7:27 AM (Source: TeleTrader)
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ThyssenKrupp reports revenue of €41.4 bn in FY 2017

German conglomerate ThyssenKrupp AG reported on Thursday its revenue for the financial year 2017 stood at €41.4 billion, confirming the market estimates. The company said its adjusted EBIT for the year was €1.9 billion, improving from €1.5 billion reported a year ago. Meanwhile, the group's adjusted EBIT from continuing operations, without Steel Americas, amounted to €1.7 billion, up from €1.5 billion recorded in 2016.

ThyssenKrupp stated its net loss for the period stood at €591 million, deepening from €261 million year on year, mostly due to the sale of the Brazillian steel mill CSA in the second quarter of the financial year. The group's order intake for 2017 grew 18% compared to the year before that while the sales rose 9% year on year. The company issued its dividend proposal of €0.15 per share.

“We achieved our best order intake since the start of the Strategic Way Forward. We exceeded our growth and earnings targets. The past fiscal year was a year of important decisions. The sale of the Brazilian steel mill CSA and the memorandum of understanding on a joint venture of our European steel activities with Tata Steel created strategic clarity. The capital increase widened our financial leeway,” CEO Dr. Heinrich Hiesinger.

Breaking the News / VK