Thyssenkrupp Q1 Report 2024
In the 1st quarter of the 2023/2024 fiscal year, operational performance by thyssenkrupp was in line with expectations in a persistently challenging market environment. At €8.0 billion, order intake was down year-on-year (€9.2 billion), mainly due to economic effects with price- and demand-induced declines at Materials Services and Steel Europe. The significant increase in order intake in the Marine Systems projects business could only partly offset this development.
1st quarter 2023/2024: Key figures for the thyssenkrupp group
With earnings positive, impairment losses of around €200 million due to technical effects in particular meant that thyssenkrupp recorded a net loss of €(305) million for the 1st quarter of the 2023/2024 fiscal year (prior year: €98 million). These impairment losses were mainly attributable to the higher cost of capital used in measurement, especially at Steel Europe. After deducting minority interest, net income in the 1st quarter was €(314) million (prior year: €75 million); earnings per share came to €(0.50) (prior year: €0.12).
Highlights
- Order intake, sales and adjusted EBIT below prior year as expected due to market effects
- “APEX” performance program delivers initial positive earnings effects with further progress achieved in the transformation process
- Full-year forecast for adjusted EBIT and free cash flow before M&A confirmed
- CEO Miguel López: “We are continuing to press ahead vigorously with the transformation of thyssenkrupp.”
