(CercleFinance.com) – thyssenkrupp announces that its sales amounted to 8.8 billion euros in the 4th quarter of its financial year (i.e. July-August-September 2023), a figure down 17% compared to the 4th quarter 2022.
At the same time, EBITDA fell by 60%, to 283 ME, and the EBIT stood at -1.7 billion euros, compared to +432 ME previously, and the adjusted EBIT stood at 88 ME against 161 ME in the 4th quarter of 2022, therefore showing a decline of 45%.
Consequently, the German industrial group posted a quarterly loss, group share, of 2 billion euros, far from the gain of 389 ME recorded a year earlier. EPS came to -3.23 euros, compared to 0.63 euros previously.
Over the entire financial year, thyssenkrupp saw its turnover fall by 9%, to 37.5 billion euros, for an adjusted EBIT down 66%, to 703 ME. The group recorded an annual net loss of 2 billion euros, far from the gain of 1.1 billion euros for the previous financial year, or an EPS of -3.33 euros, compared to 1.82 euros last year.
The manufacturer indicates that the growth in sales of its Automotive Technology division could not compensate for the drop in sales at Materials Services and Steel Europe resulting from the fall in materials prices and the spot market.
Despite the decline in Steel Europe, thyssenkrupp expects a slight increase in turnover during the 2023/2024 financial year, estimating that the activity will be driven by the significant growth of Decarbon Technologies and Marine Systems. In addition, slight sales growth is expected at Automotive Technology.
thyssenkrupp will also aim for an adjusted EBIT margin of 4 to 6% at Group level.
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