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MARCEL KUSCH
Terminations for operational reasons were not excluded. Thyssenkrupp had already announced in spring 2019 that it would cut 6,000 jobs, of which 3,400 had already been cut.
In the last financial year 2019/20 (as of September 30), the group sank deep into the red. The steel business and supplier business in particular were weak after demand, especially from the auto industry, collapsed in connection with the corona pandemic. Without the elevator business, which has meanwhile been sold, the group had to accept an adjusted operating loss (EBIT) on continuing operations of € 1.6 billion. Business stabilized in the fourth quarter, he said. In the previous year there were still less than 110 million euros. Thyssenkrupp had previously announced a deficit of 1.7 to 1.9 billion. With a loss of almost € 1 billion, the steel business contributed most of the deficit.
To do this, the group had to write off a total of around 3 billion euros in the steel supply and automotive businesses at the end of the fiscal year; In continuing operations, the group posted a net loss of 5.5 billion euros, after a loss of almost 1.2 billion in the previous year. Thyssenkrupp was able to polish the balance sheet with the sale of the elevator business, from which the company received 15,000 million euros. This resulted in a net profit for the group of just under € 9.6 billion. Thyssenkrupp does not want to pay dividends in view of the high losses in continuing operations.
For next year, Thyssenkrupp is aiming for a “considerable improvement” in adjusted EBIT. However, the group will remain in the red: the management assumes a loss of around three digits in millions of euros.
