Thyssenkrupp on track with restructuring, sees higher margins By

BERLIN (Reuters) -Thyssenkrupp said on Thursday it expects mid-term adjusted margins of 4-6% as its restructuring programme progresses, adding it is looking into options for its marine systems, cement plants and chemicals divisions.

The group is considering partnerships and consolidation or a stand-alone scenario for its marine systems division and will decide on the future of the cement plant construction and chemicals units in the medium term, it said.

Another target is to restore its ability to consistently pay a dividend, Thyssenkrupp (DE:) said in a statement on its capital markets day.

“We still have a great deal to do when it comes to improving our performance,” Chief Financial Officer Klaus Keysberg said.

The group, which reported a 2.3% adjusted EBIT (earnings before interest and taxes) margin in 2020/21, is in the middle of a structural overhaul and has made a string of disposals https://www.reuters.com/article/thyssenkrupp-divestiture-steel-idCNL8N2QI1DC in recent months.

These included the sale of its mining technology business to Denmark’s FLSmidth in July and the disposal of its infrastructure and carbon components operation.

These transactions should bring in a high-triple-digit-million euro figure to bolster the company’s net financial position and pension liabilities, Thyssenkrupp said.

Adjusted medium-term EBIT margin targets by division included at least 10% for industrial components and 7-8% for automotive, where 80% of sales were being generated from components not used in combustion engines.

Thyssenkrupp added it would announce more details about the initial public offering (IPO) of its hydrogen division Uhde Chlorine Engineers planned early next year https://www.reuters.com/business/energy/thyssenkrupp-considers-listing-hydrogen-business-q1-bloomberg-2021-11-15 at a separate capital markets day on Jan. 13, 2022.

“We’re getting Thyssenkrupp back on track,” Chief Executive Martina Merz said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment…