US EditionStruggling steel giant Thyssenkrupp's shares slump after profit hit
- Thyssenkrupp, a German industrial giant, reported a net profit of €167 million for January to March 2025, mainly from selling its Indian steel unit.
- This profit followed two years of losses and happened despite difficult market conditions including high energy costs, weak demand, and tariffs from the US administration.
- The company’s steel division, Steel Europe, faced a €90 million impairment and a 5% sales decline as it undergoes restructuring and job cuts totaling 11,000 positions.
- Quarterly operating profits plunged about 90% to €19 million, far below analyst expectations, with CFO Jens Schulte noting shutdowns of steel sites for modernisation recently.
- Thyssenkrupp anticipates returning to profitability for the full year with earnings expected to fall within a range of 100 to 500 million euros, while cautioning that the remainder of 2025 will remain affected by global economic challenges and ongoing pressures.
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Struggling steel giant Thyssenkrupp's shares slump after profit hit
Thyssenkrupp's shares slumped Thursday after it reported worse-than-expected earnings and its steel business took a fresh hit, in more bad news for the struggling German industrial titan.
Germany's Thyssenkrupp returns to profit on India sale, but Europe's steel woes persist
German industrial titan Thyssenkrupp said Thursday it returned to profit at the start of the year due to the sale of an Indian business but its troubled steel division took a hit. The group, which makes everything from steel to submarines, reported a net profit of 167 million euros ($187 million) for the January to March period, compared to a 72-million-euro loss a year earlier. It is the first time the company has booked a profit after six cons…
German shipbuilder thyssenkrupp Marine Systems reports record order backlog
The company reported a substantial increase in order intake, rising to €5,591 million compared to €669 million in the previous year. Major contracts include an extension of the 212CD programme with the German Armed Forces for four additional submarines and an order for the research icebreaker ‘Polarstern’ from the Alfred Wegener Institute. Oliver Burkhard, CEO of thyssenkrupp Marine Systems, stated: “We achieved great success in the first half o…
Thyssenkrupp’s profit plunges as tariff uncertainty hits demand – EMEA Tribune – Latest News – Breaking News – World News
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp’s operating profit plunged in the second quarter, hurt by what the German conglomerate said was […] Source
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