Thyssenkrupp Shares Plunge After Slump in Earnings, Cash
This article is for subscribers only.
Thyssenkrupp AG shares tumbled after the steel and engineering group reported a slump in earnings due to weak demand from automotive and industrial customers.
Adjusted earnings before interest and tax plunged 90% to €19 million ($21.3 million) in the latest quarter from a year earlier, the German company said Thursday. That was driven by lower sales, reduced shipments and a significant drop in capacity utilization due to maintenance work at its capital-intensive steel unit.