Thyssenkrupp drops in early trade after guidance cut
** Shares in Thyssenkrupp TKAG.DE fall around 7% in early trade after the German steel, submarine and car parts maker cut its outlook for 2024
** It now expects sales to fall 6-8%, due to weak demand in its products that is not expected to stabilise in the short-term
** It now predicts EBIT of more than 500 million euros ($542.90 million), down from an initial forecast of a high triple-digit million euro sum
** Free cash flow is also expected to turn negative at 100 million euros, from a previous expectation of a low triple-digit million euro range
** "If there is any investors trust left in the company, this will suffer heavily again," a local trader says
($1 = 0.9210 euros)
Reporting by Isabel Demetz
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
