Thyssenkrupp steel profit dropped 78%

Frankfurt on November 21st (TASR) – Thyssenkrupp converted a German business turnover in earnings for business year 2017/2018, greatly supporting the cost of steel producer's price research. However, the higher freight costs gave a direct impact on the results.

Name its company, for its & # 39; 2017/2018 business year, which ended in September, achieved a total profit of EUR 60 million. Compared to the business of 2016/2017, this represents a 78% reduction. A 3% income was raised to EUR 42.7 billion. "The end of the trade year was particularly cruel," Guido Kerkhoff CEO said.

At the same time, the company said that Thyssenkrupp had set aside a backup to examine the price agreements stated between the steel companies in the # 39; Germany. The company did not publish its height. In addition to these issues, Thyssenkrupp also has higher costs than expected for some contracts and higher costs of material.