Shares in Germany’s Thyssenkrupp slide as it forecasts heavy losses 😔
Shares in Germany’s Thyssenkrupp slide as it forecasts heavy losses 😔
Cikk tartalma röviden
Thyssenkrupp's share price fell by 8.85% as it forecasts significant losses for the current financial year, predicting negative cash flow between €300mn and €600mn. The company expects a loss of €400mn to €800mn, citing challenging market conditions. Despite this, it reported positive cash flow of €363mn last year. Thyssenkrupp plans to cut 11,000 jobs in its steel unit and reduce production by 25%. The company is also exploring a spin-off of its divisions and has seen interest from Jindal Steel for its steel unit.
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mood-pessimistic
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Pozitív kontextus
positive cash flow, financial targets met
Negatív kontextus
heavy loss, challenging market conditions, job cuts, loss of margins