Management has given an indication that Q3 numbers (to be released on 9 August) will include an operating loss of €220m for this division. Our current projections see a divisional profit of €10m on revenue of around €1.3bn. These losses are the result of the reassessment of ongoing contracts. Compared to the agreed prices, costs have clearly become out of control on projects in Turkey (marine project), Saudi Arabia (a cement plant), and Australia (biofuel power plant). Accordin
01 Aug 2018
Profit warning for Industrial Solutions and consolidated accounts
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Profit warning for Industrial Solutions and consolidated accounts
thyssenkrupp AG (TKR:WBO) | 0 0 0.4% | Mkt Cap: 14,231m
- Published:
01 Aug 2018 -
Author:
Hans-Peter Wodniok -
Pages:
2
Management has given an indication that Q3 numbers (to be released on 9 August) will include an operating loss of €220m for this division. Our current projections see a divisional profit of €10m on revenue of around €1.3bn. These losses are the result of the reassessment of ongoing contracts. Compared to the agreed prices, costs have clearly become out of control on projects in Turkey (marine project), Saudi Arabia (a cement plant), and Australia (biofuel power plant). Accordin