German Steel Giant ThyssenKrupp While Announcing The Results Has Given Following Outlook

German steel giant ThyssenKrupp while announcing the results has given following outlook

From today's perspective, the Group's performance in the 2012/2013 fiscal year will be characterized to a very large extent by the continued absence of a global economic recovery, with an unsolved debt crisis in particular in the euro zone and slower growth in the emerging economies. Based on the assumption of stagnation for the most part in the core markets of our more cyclical materials and components business, where in the current economic environment visibility does not extend much beyond a quarter, the Group's expectations for sales and adjusted EBIT are currently as follows:

ThyssenKrupp expects the Group's sales from continuing operations to remain at the prior year level of around EYR 40 billion in fiscal year 2012/2013, provided there are no major dislocations on the raw materials markets. Sales lost due to portfolio measures, in particular at Steel Europe and Components Technology, should be largely offset by organic growth in the capital goods businesses.

Assuming that the slower activity on the materials markets at the beginning of the new fiscal year compared with the prior year continues but does not progressively worsen, adjusted EBIT from the Group's continuing operations should be around EUR 1 billion.

Dr. Heinrich Hiesinger said "In the past fiscal year we made major progress with our strategic development program, in particular with the portfolio measures. Now we are focusing on further improving our operating performance and our leadership culture: We need more efficiency, transparency and honesty at all levels. Only then can we increase our profitability and unlock the potential for value growth available in our Group."