Overview
- Thyssenkrupp, which reported quarterly results Tuesday, lowered its full‑year sales outlook to a range of 3% lower to flat compared with last year.
- Adjusted operating profit rose to €198 million on cost savings even as quarterly revenue slipped 2% to about €8.4 billion.
- Talks to sell the steel division to India’s Jindal are paused as management cites better earnings prospects and a higher book value of about €3 billion, up from €2.4 billion in December.
- The company still guides for a €400 million to €800 million loss this year because restructuring the steel business will bring heavy one‑off costs.
- The steel plan would cut or outsource up to 11,000 of roughly 26,000 jobs, while CEO Miguel López prepares units like Materials Services for separation, a course unions challenge over reduced worker influence.