{"id":114034,"date":"2021-05-11T06:44:25","date_gmt":"2021-05-11T06:44:25","guid":{"rendered":"https:\/\/fin2me.com\/?p=114034"},"modified":"2021-05-11T06:44:25","modified_gmt":"2021-05-11T06:44:25","slug":"thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices\/","title":{"rendered":"Thyssenkrupp raises outlook as recovery boosts demand, prices"},"content":{"rendered":"
Slideshow ( 2 images )<\/span><\/figcaption>

FRANKFURT (Reuters) -German conglomerate Thyssenkrupp on Tuesday raised its full-year outlook for the second time in three months, boosted by a global economic recovery that is driving both demand and prices for steel, car parts and materials.<\/p>\n

The group now expects adjusted earnings before interest and tax (EBIT) to reach a mid triple-digit million euro amount in the year to September, having previously forecast to almost break even.<\/p>\n

Thyssenkrupp swung to an adjusted EBIT of 220 million euros ($267 million) in the second quarter, compared with a 279 million loss last year, helped by higher prices for its products, that have also supported other sectors across Europe.<\/p>\n

Shares were indicated 1% higher in pre-market trade.<\/p>\n

The submarines-to-bearings maker is emerging from years of crisis during which it lost two CEOs, warned on profits numerous times and sold its elevators division – its crown jewel – to private equity.<\/p>\n

\u201cBut we also know that we still have a lot of work to do. So we\u2019re not sitting back. The realignment of Thyssenkrupp remains a journey of many small steps \u2013 and we\u2019re taking those steps,\u201d Chief Executive Martina Merz said.<\/p>\n

The group\u2019s steel division, Europe\u2019s second-largest after ArcelorMittal, swung to adjusted earnings before interest and tax of 47 million euros, compared with a 181 million euro loss in the same period last year.<\/p>\n

Thyssenkrupp is considering spinning off the division after several attempts to merge or sell it, including to Britain\u2019s Liberty Steel, have failed.<\/p>\n

($1 = 0.8235 euros)<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Slideshow ( 2 images )FRANKFURT (Reuters) -German conglomerate Thyssenkrupp on Tuesday raised its full-year outlook for the second time in three months, boosted by a […]<\/p>\n","protected":false},"author":3,"featured_media":114033,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nThyssenkrupp raises outlook as recovery boosts demand, prices - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thyssenkrupp raises outlook as recovery boosts demand, prices - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Slideshow ( 2 images )FRANKFURT (Reuters) -German conglomerate Thyssenkrupp on Tuesday raised its full-year outlook for the second time in three months, boosted by a [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/markets\/thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-11T06:44:25+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/05\/Thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/markets\/thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices\/\",\"url\":\"https:\/\/fin2me.com\/markets\/thyssenkrupp-raises-outlook-as-recovery-boosts-demand-prices\/\",\"name\":\"Thyssenkrupp raises outlook as recovery boosts demand, prices - 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