Thyssenkrupp records net loss of 2.0 billion euros
The Essen-based Thyssenkrupp Group has presented deep red figures for the past financial year. The company recorded a net loss of 2.0 billion euros in 2022/2023, compared to a profit of 1.1 billion euros in the previous financial year, as it announced on Wednesday. In addition to increased energy costs and high interest rates, this was also due to sharply falling prices, particularly for steel.
The burdens had a significant impact on the adjusted operating profit (EBIT), which fell by 66 percent year-on-year to 703 million euros. In the same period, the steel division Thyssenkrupp Steel Europe saw its operating profit fall by 73 percent to 320 million euros.
The division has been suffering for years from falling prices and growing competition on the Asian market. Thyssenkrupp is currently holding "constructive and open" talks with the Czech billionaire Daniel Kretinsky and his holding EPH about a possible joint venture. According to the company, the details of what this strategic partnership could look like are currently the subject of negotiations.
- Despite reporting a net loss of 2.0 billion euros during the Financial year 2022/2023, ThyssenKrupp's previous financial year showed a profit of 1.1 billion euros.
- The significant net loss incurred by ThyssenKrupp during the Financial year exceeded 2 billion euros, putting a substantial strain on the company's financial position.
- The total net loss recorded by ThyssenKrupp in the Financial year amounted to an astonishing 2 billion euros, representing a substantial setback for the company.
Source: www.ntv.de
