thyssenkrupp announces that sales amounted to 8.8 billion euros in the 4th quarter of its fiscal year (i.e. July-August-September 2023), down 17% on Q4 2022.

At the same time, EBITDA fell by 60% to 283 ME, while EBIT came in at -1.7 billion euros, versus +432 ME previously, and adjusted EBIT stood at 88 ME versus 161 ME in Q4 2022, down 45%.

As a result, the German industrial group posted a quarterly loss, Group share, of 2 billion euros, a far cry from the 389 ME gain recorded a year earlier. EPS came to -3.23 euros, compared with 0.63 euros previously.

Over the full year, thyssenkrupp saw its sales fall by 9% to 37.5 billion euros, with adjusted EBIT down 66% to 703 ME. The Group posted an annual net loss of 2 billion euros, a far cry from the previous year’s 1.1 billion euro gain, resulting in EPS of -3.33 euros, compared with 1.82 euros last year.

The industrialist points out that sales growth in its Automotive Technology division was unable to compensate for lower sales at Materials Services and Steel Europe resulting from lower material prices and the spot market.

Despite the decline at Steel Europe, thyssenkrupp expects a slight increase in sales in the 2023/2024 financial year, believing that business will be driven by significant growth at Decarbon Technologies and Marine Systems. In addition, slight sales growth is expected at Automotive Technology.

thyssenkrupp is also targeting a Group-wide adjusted EBIT margin of 4-6%.

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