WATCH: Thyssenkrupp flagged a negative free cash flow of up to $1.8 billion in its current fiscal year, citing restructuring costs as the German conglomerate tries to simplify its sprawling set-up
Steel unit swings to adj EBIT of 19 mln eurosFRANKFURT, Aug 11 - Thyssenkrupp
Thyssenkrupp, which reported third-quarter results that showed a marked improvement from the year-earlier period, had previously forecast the cash gap would narrow towards negative 1 billion euros from negative 5.5 billion last year. The turnaround this year is incurring restructuring costs in the low to mid triple digit million euro range.A crane operator lifts up a finished steel coil at the storage and distribution facility of the German steel maker in Duisburg, Germany, January 30, 2020.
The division's adjusted earnings before interest and tax stood 19 million euros in the third quarter, compared with a 309 million loss a year earlier.
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