Tuesday , September 27 2022

The Thyssen Group expects less money to gain from TIME ONLINE due to antitrust proceedings


Essen (dpa) – an industrial group ThyssenKrupp Given the risks of violating competition law in the financial year 2017, it will almost never profit. It is expected that only 0.1 billion. The euro surplus, Thursday evening in Essen, said the group.

In the previous year, the company was deprived of 0.2771 billion euros. The EBIT forecast was adjusted downwards from EUR 1.8 billion to EUR 1.6 billion. Thyss group stock price fell after hours.

The worse reason for hope is the new developments in the initial investigation regarding possible cartel agreements on steel prices, he said. It has opted for the rules as it can not exclude "significant adverse effects on the Group's net assets, financial position and performance." There was also a risk in the component technology business structure, as well as problems with Steel Europe and Elevator Technology.

The Thyssen Group seeks to increase the profitability of its business units and reduce costs, especially at the headquarters of the group, weakening the factory and shipbuilding and lift business.

Donatas Kaufmann, Director General of Thyssenkrupp in a letter from the employees, stressed that "the current development will not affect the planned partnership with Tata Steel Europe." In his view, the parties have certain risks inherent in the past.

Regarding the investigation of the custodial guards, the staff letter states: "This applies to old things". All involved people no longer acted in their area of ​​responsibility or were no longer in the company: "The charges relate to past practices that are similar to ours. Understanding compliance does not have to be done."

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