DUISBURG (dpa-AFX) - Thyssenkrupp AG (TYEKF.PK) announced, for the current 2017/2018 financial year: adjusted EBIT will now be around 1.8 billion euros, at the lower end of the previously forecast range of 1.8 to 2 billion euros. Free cash flow before M&A will continue to be significantly better than in the previous year, but will be negative due to the lower expectations in plant construction and shipbuilding. The Group said its net income will continue to be significantly better than in the previous year.
With regard to the restructuring of Industrial Solutions, thyssenkrupp has conducted a comprehensive project analysis and a review of the budgeted figures in its plant construction and shipbuilding segment. The company said the result of the analysis is a correction of the expected earnings figures of Industrial Solutions for the third fiscal quarter and the current fiscal year.
Thyssenkrupp noted that even before these effects, Industrial Solutions' adjusted EBIT in the third quarter will be negative at a low double-digit million amount due to lower than expected sales. The company said the lower order intake and delayed milestone payments in connection with current projects mean that the contribution of the plant construction and shipbuilding segment to the Group's free cash flow before M&A for the year as a whole also will be more negative than previously expected.
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