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ThyssenKrupp Suspends Free Cash Flow Outlook On War In Ukrain

ThyssenKrupp AG (TYEKF.PK), a German industrial engineering and steel company, said on Thursday that it has suspended its forecast for the fiscal 2022 on free cash flow before M&A as the persisting Ukraine crisis and related economic uncertainties will impact the Group's business performances.

The steel maker's sales from Russia and Ukraine are significantly less than one percent. However, it assumes that the worldwide supply chain disruptions will hit its steel and automotive supply businesses.

As of now, the Board said it continues to assume that the adjusted EBIT for the second quarter will still be higher, on quarter-on-quarter basis, adding that free cash flow before M&A, on the other hand, will be more strongly impacted by negative price effects than previously estimated.

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