|Bid||6.82 x 0|
|Ask||7.02 x 0|
|Day's range||6.80 - 7.01|
|52-week range||5.44 - 7.77|
|Beta (5Y monthly)||2.05|
|PE ratio (TTM)||13.37|
|Forward dividend & yield||0.15 (2.32%)|
|Ex-dividend date||06 Feb 2023|
|1y target est||N/A|
Thyssenkrupp has written down the value of its steel business by €2.1bn, pushing Germany’s largest steelmaker into the red as it warns of low demand and prices amid the gloomy economic climate. The Essen-based company, which includes a submarine division and a bearings business, on Wednesday posted a net loss of €2bn for 2023, blaming high prices for gas and other raw materials for the hit to its energy-intensive steel business. Spot prices for steel had fallen this year, Thyssenkrupp said, lowering sales by its steel division 6 per cent to €12.4bn despite shipments remaining flat compared with the previous year.
(Bloomberg) -- Thyssenkrupp AG gained after the wrote down the value of its struggling steel business by a further €1.8 billion ($1.96 billion), boosting chances the company will finally succeed in offloading some of the business. Most Read from BloombergAltman Returns as OpenAI CEO in Chaotic Win for MicrosoftSam Altman, OpenAI Board Open Talks to Negotiate His Possible ReturnNvidia Fails to Satisfy Lofty Investor Expectations for AI BoomMcKinsey and Its Peers Are Facing the Wildest Headwinds i
FRANKFURT/ESSEN, Germany (Reuters) -Germany's Thyssenkrupp on Wednesday announced a 2.1-billion-euro ($2.3 billion) impairment on its steel unit due to a "gloomy" outlook for the sector, highlighting the challenge in efforts to win Czech energy group EPH as a co-owner for the business. Still the industrial conglomerate posted its first positive free cash flow before mergers and acquisitions, a key gauge for investors, in seven years, sending its shares to a 7-week high. Thyssenkrupp shares rose as much as 7.5% after the group said free cash flow before M&A came in at 363 million euros and proposed a stable dividend of 0.15 euros per share.