ThyssenKrupp Chairman Wants Steelmaker to Raise Profit, Ratios
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ThyssenKrupp AG’s profit has yet to reach satisfactory levels while equity levels must rise, Supervisory Board Chairman Ulrich Lehner said before the annual general meeting of Germany’s largest steelmaker this Friday.
“The EBIT achieved isn’t a satisfactory EBIT yet,” he told reporters in Dusseldorf late yesterday, referring to adjusted earnings before interest and taxes for continuing operations that more than doubled in the year through September to 1.33 billion euros ($1.5 billion) from a year earlier. The equity ratio of 8.9 percent as of Sept. 30, which improved from a year earlier, has to increase and the company’s culture will take some more time to change, he said.