Thyssenkrupp Sees Ongoing Weak Demand in Broad Industry Slowdown

Orders, sales decline during third quarter amid forecast cuts
Sale of powertrain unit halted, considering structural options

Since the start of the year, Thyssenkrupp has swung its predictions to a net loss as well as negative free cash flow. During the third quarter, it reported a net loss of €33 million. — Since the start of the year, Thyssenkrupp has swung its predictions to a net loss as well as negative free cash flow. During the third quarter, it reported a net loss of €33 million.
Photographer: Sarah Pabst/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Elisabeth Behrmann

August 14, 2024 at 5:07 AM UTC

Updated on

August 14, 2024 at 11:50 AM UTC

This article is for subscribers only.

Thyssenkrupp AG said poor demand that’s pushing down sales and new orders is set to endure for now as the steelmaker’s customers across automotive technology, machinery and construction lose momentum.

For the three months through June, order intake fell almost 11% to €8.4 billion ($9.2 billion) and sales also dipped, Thyssenkrupp said Wednesday. The former German industrial stalwart has already cut its outlook three times in past months.