By Christoph Steitz
FRANKFURT (Reuters) -Thyssenkrupp swung to a web loss in its fiscal third quarter as a result of higher-than-expected prices for legacy tasks at its plant engineering enterprise, the conglomerate mentioned on Wednesday, including it had additionally halted the gross sales course of for considered one of its items.
The corporate posted a web lack of 54 million euros ($59 million) for the April-to-June interval, down from a revenue of 83 million a 12 months earlier, it mentioned, additionally blaming restructuring bills at its supplies buying and selling division.
Thyssenkrupp (ETR:) additionally mentioned {that a} course of to promote its Automation Engineering enterprise had been halted and that the corporate was now exploring deeper restructuring measures for the division’s powertrain enterprise unit.
The information replicate mounting challenges for the previous German industrial icon, which needed to minimize its annual outlook for the third time final month and is within the midst of a conflict-ridden course of to divest half of the shares in its metal division.
“Strongly opposing market tendencies and one-time results offset the progress made within the transformation of Thyssenkrupp within the third quarter,” Chief Monetary Officer Jens Schulte mentioned.
($1 = 0.9113 euros)
