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11/21/2018, 7:13 AM (Source: TeleTrader)
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ThyssenKrupp posts revenue of €42.7B in FY 2018

German conglomerate ThyssenKrupp AG reported on Wednesday its revenue for the financial year 2018 stood at €42.7 billion, rising just over 3% year-over-year.

The company said its adjusted EBIT for the year was €1.55 billion, down from €1.9 billion reported a year ago. Meanwhile, the group's adjusted EBIT from continuing operations, amounted to €1 billion, dropping from €1.7 billion recorded in 2017. ThyssenKrupp stated its net loss for the period stood at €649 million, deepening from €591 million on an annual basis. The group's order intake for 2018 remained virtually unchanged compared to the year before.

"Over recent months we have provided transparency into a number of problem areas in the Group – also in our operating business – and addressed the challenges. In my personal experience, problems that are put off get bigger over time. So we are tackling the issues and have also set ourselves ambitious three-year targets," ThyssenKrupp CFO Guido Kerkhoff said.

Breaking the News / BM