Thyssenkrupp takes $1 billion hit on steel unit as outlook darkens
Thyssenkrupp has written down the value of its steel division by another 1 billion euros ($1.06 billion), blaming the sector's worsening outlook as weak demand and Asian competition weigh on German industry's ability to compete.
Thyssenkrupp Takes $1 Billion Impairment on Steel Unit as Outlook Worsens
ESSEN, Germany (Reuters) -Thyssenkrupp took a fresh 1 billion euro ($1.06 billion) impairment on its struggling steel division, blaming the sector's worsening outlook as weak demand and Asian competition hurt Germany's industry.
German powerhouse Thyssenkrupp books $1 billion impairment on struggling steel unit
Germany's Thyssenkrupp on Tuesday reported a 1-billion-euro ($1.06 billion) impairment on its struggling steel division as the industrial powerhouse flagged "gloomy volume" expectations and structural challenges in the sector. The firm said its net loss of ...
Thyssenkrupp records $1B impairment on steel unit amid challenges
German industrial major Thyssenkrupp took a fresh 1-billion-euro ($1.06-billion) impairment on its struggling steel division, citing the
Thyssenkrupp in €1bn writedown of steel business as demand slumps
Thyssenkrupp has written down its steel business by a further €1bn as Germany’s largest steelmaker warns of structurally lower demand from European industry as it struggles with the cost of decarbonisation.
Thyssenkrupp takes fresh $1 bln impairment on steel division
Thyssenkrupp on Tuesday said it took a fresh 1 billion euro ($1.06 billion) impairment on its struggling steel division, citing the sector's deteriorating outlook as well as future investments needed to decarbonise production.
Germany's struggling Thyssenkrupp books $1 billion impairment charge as steel demand weakens
Thyssenkrupp said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — was mainly due to asset impairments totaling around 1.2 billion euros. CEO Miguel Lopez said the current fiscal year will be one of "decisions" as the firm continues talks for its steel unit to form a joint venture with Czech billionaire Daniel Krentisky.
Germany's Thyssenkrupp pops 10% after narrowing net loss and booking $1 billion impairment charge
Thyssenkrupp said its net loss of 1.5 billion euros in the fiscal year ending Sept. 30 — after deducting minority interest — ...
Crisis-hit Thyssenkrupp Books Another Hefty Annual Loss
German industrial giant Thyssenkrupp reported Tuesday a massive annual loss for the second year running, as it battles ...
Thyssenkrupp's steel division sees valuation slump as outlook remains gloomy
The unit has suffered from rocky economic conditions, fierce competition from Asian manufacturers, and a pressure to ...
Thyssenkrupp sees return to profit after quarterly net loss cut in half from year ago
Thyssenkrupp (TYEKF) (TKAMY) shares surge 12% as company expects to swing to profit, cut losses, and improve EBIT in current ...
Thyssenkrupp Sees Negative Cash Flow During Transition Year
Thyssenkrupp AG expects to post cash losses this fiscal year on rising restructuring and investment costs, highlighting the ...
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Thyssenkrupp takes US$1 billion hit on steel unit as outlook darkens
Thyssenkrupp has written down the value of its steel division by another US$1.06 billion, blaming the sector’s worsening ...