ThyssenKrupp reported that the company incurred losses due to higher interest rates, higher capital costs and lower demand in the sector. These and similar reasons led to a drop in adjusted earnings before interest and taxes (EBIT) to €84 million, it stated.
The "Apex" efficiency program is expected to contribute around €2 billion in adjusted EBIT by 2025. According to sources, the company reported a 13% decrease in demand and reported turnover of €8 billion.
Thyssenkrupp is reported to be expecting a profit this month with adjusted EBIT after a loss of €314 million.
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