thyssenkrupp Q3 Report 2023

Highlights

Income/(loss) from operations

• Overall drop in sales of continuing operations in the first 9 months of the reporting year compared with the prior-year period; declines mainly due to the fact that sales in the prior-year period still included sales from the stainless steel and mining disposal groups, which were deconsolidated in the past fiscal year, and to a significant drop in sales from the materials business in the Materials Services segment; by contrast, sales rises predominantly in the automotive businesses in the Automotive Technology segment, the marine businesses, and the remaining businesses in the Multi Tracks segment; at the same time, taking into account the aforementioned deconsolidations, the positive overall effects of the CO2 forward contracts recognized here in the first 9 months of the reporting year and the year-on-year reduction in the impairment losses recognized in the Steel Furope segment and Special Units by 40 million to £320 million, the overall reduction in the cost
• Overall significant reduction in the net negative financial income/(expense) of continuing operations, principally as a result of improved income from investments accounted for using the equity method, which was mainly due to lower losses from the Elevator investment, higher profits at a Chinese investment, and the significant improvement in interest on net financial assets; furthermore, overall increase in income related to the interest-free loans acquired in connection with the sale of the Elevator activities; by contrast, higher net periodic pension cost ■Lower expenses for income taxes as a result of lower taxable income

Earnings per share (EPS)

• Decline in income/(loss) from discontinued operations (net of tax) as a result of the non-recurrence of subsequent income following an agreement with the buyer of the Elevator activities sold in 2019/2020 on offsetting mutual claims and obligations from tax guarantees.
• Significant drop in net income of €799 million to €2 million in the first 9 months of the reporting year
• Earnings per share (taking into account the earnings attributable to thyssenkrupp AG’s shareholders) therefore also decreased sharply by €1.30 to a loss of €0.10 in the first 9 months of the reporting year