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ThyssenKrupp Slips To Loss In Q1; Maintains Weak Forecast For FY20 - Quick Facts

German industrial and technology group thyssenKrupp AG (TYEKF.PK) reported Thursday that its first-quarter net loss after minority interest was 372 million euros, compared to prior year's profit of 60 million euros. Loss per share was 0.60 euro, compared to profit of 0.10 euro a year ago.

Adjusted EBIT amounted to 50 million euros, down from the prior year's 217 million euros, particularly due to the situation at Steel Europe and a general weakening of the automotive market.

Sales were virtually stable at 9.7 billion euros, while order intake was 4 percent lower overall at 9.7 billion euros.

Looking ahead for fiscal 2020, the company continues to project significantly higher net loss than in the previous year's 260 million euros, due to the expenses for the intensification of restructuring.

Further, the company still expects adjusted EBIT to be level with the prior year's 802 million euros.

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