The company's forecast points to a negative free cash flow before non-recurring items of EUR 600 million. A persistent weak trend in the automotive sector and large restructuring costs characterise the outlook.
“We must assume that the challenging market conditions will persist in the next financial year,” says CEO Axel Hamann in a comment in the interim report.
For the recently concluded financial year, Thyssen Krupp reported a 6.3 percent drop in sales to 32.8 billion euros, while adjusted operating profit rose 13 percent to 640 million euros.
