THYSSENKRUPP AG (FRA:TKA) thyssenkrupp AG: thyssenkrupp expects net income of EUR 0.1 bn - adversely affected by provisions for cartel proceedings - and adjusted EBIT of EUR 1.6 bn

Transparency directive : regulatory news

08/11/2018 18:18




DGAP-Ad-hoc: thyssenkrupp AG / Key word(s): Legal Matter/Preliminary Results


thyssenkrupp AG: thyssenkrupp expects net income of EUR 0.1 bn - adversely affected by provisions for cartel proceedings - and adjusted EBIT of EUR 1.6 bn


08-Nov-2018 / 18:18 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Disclosure of an inside information according to Article 17 MAR





thyssenkrupp expects net income of EUR 0.1 bn - adversely affected by provisions for cartel proceedings - and adjusted EBIT of EUR 1.6 bn



thyssenkrupp Steel Europe AG, alongside other steel companies and associations, is the subject of ongoing investigations by the Federal Cartel Office into alleged cartel agreements relating to the product groups heavy plate and flat carbon steel. The pending investigations concern, in particular, allegations concerning collusion in the determination of surcharges and premiums for steel prices. thyssenkrupp takes this matter very seriously and, with external support, has conducted its own internal investigation of the matter. Based on the facts currently known to us, we cannot exclude substantial adverse consequences with regard to the Group's asset, financial and earnings situation. Due to new developments in the investigation process, thyssenkrupp has decided to accrue risk provisions in the consolidated financial statements. This will result in a net income for the year below the previous year's level (net income for the 2017/2018 financial year is expected to be EUR 0.1 billion, compared with EUR 271 million in the previous year).



In addition, thyssenkrupp has decided to set aside provisions for risks arising from quality issues in the Components Technology business area. Together with production and shipping restrictions at Steel Europe in the 4th quarter and earnings at Elevator Technology below expectations in the 4th quarter, this means that adjusted EBIT in 2017/2018 is expected to be EUR 1.6 billion.



The consolidated financial statements for the 2017/2018 financial year will be published as planned on 21 November 2018.





Contact:

Dr. Claus Ehrenbeck

Head of Investor Relations

T: +49-201-844-536464


Peter Sauer

Head of External Communications

T: +49-201-844-536791








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Language: English
Company: thyssenkrupp AG

thyssenkrupp Allee 1

45143 Essen

Germany
Phone: +49 (0)201 844-0
Fax: +49 (0)201 844-536000
E-mail: press@thyssenkrupp.com
Internet: www.thyssenkrupp.com
ISIN: DE0007500001
WKN: 750000
Indices: DAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange


Weitere Informationen im Internet unter Investor Relations: Anleihen / Creditor Relations
Further information can be found on our website under Investor Relations: Bonds / Creditor Relations



 
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