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2/13, 7:05 AM (Source: TeleTrader)
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Thyssenkrupp loses €0.60 per share in fiscal Q1

German industrial giant Thyssenkrupp AG reported on Thursday that its sales in the first quarter of fiscal 2019/2020 were "virtually stable" at €9.66 billion, sliding 1% annually. At the same time, order intake was virtually the same in value, but shrank 4% compared to the three months ended December 31, 2018. Automotive and elevator technology had slight increases in order intakes, while other sectors performed worse on an annualized basis.

The company posted a loss of €0.60 per share in the last reported quarter, compared to earnings of €0.13 per share in the corresponding period in the year prior. Earnings before interest and taxes (EBIT) tanked by almost €300 year over year to a negative €115 million. Automotive and elevator technology had slight increases in order intakes, while other sectors performed worse on an annualized basis.

"The latest figures are not great. But we are convinced that we are on the right track. A decision on the Elevator transaction is imminent, the negotiations with codetermination representatives on the Steel strategy are making progress, and we are improving our performance. The bottom line: We are moving in the right direction," CEO Martina Merz commented.

Breaking the News / NI