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ThyssenKrupp: A rocky road

ThyssenKrupp clearly noticed the pandemic in the past fiscal year. Incoming orders fell by 17 percent, sales fell by 15 percent. Adjusted EBIT fell from -110 million euros to -1.633 billion euros. That’s no surprise. ThyssenKrupp had even expected -1.7 billion euros to -1.9 billion euros.

The analysts at Nord LB are sticking to the hold recommendation for ThyssenKrupp shares. The price target remains at 6.00 euros.

ThyssenKrupp is looking ahead to the new fiscal year with caution. Sales should increase slightly. Adjusted EBIT should improve significantly, but it should remain in the negative range. An operating loss in the mid three-digit million range is expected. The loss is likely to be more than 1 billion euros. There are a number of uncertainties about the further course of business.

The group will be supported by the funds raised by the sale of the Elevators division. These funds strengthen the balance sheet. This is urgently needed in the current situation. From the experts’ point of view, the path we have chosen is rocky and will only lead to success in the medium term.

ThyssenKrupp shares lose 1.5 percent to EUR 5.838.

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