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Thyssenkrupp FY Result To Be Affected By Provisions For Cartel Proceedings

ThyssenKrupp AG (TYEKF.PK) announced the company's net income for the 2017/2018 financial year is expected to be 0.1 billion euros, compared with 271 million euros, in the previous year. Adjusted EBIT in 2017/2018 is expected to be 1.6 billion euros.

The company noted that thyssenkrupp Steel Europe AG, alongside other steel companies and associations, is the subject of ongoing investigations by the Federal Cartel Office into alleged cartel agreements relating to the product groups heavy plate and flat carbon steel. Due to new developments in the investigation process, the company has decided to accrue risk provisions in the consolidated financial statements.

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