ThyssenKrupp plummets over 10% on weak earnings

Thursday, 21. November 2019 09:38

Shares of German steel manufacturer and industrial engineer giant ThyssenKrupp dived over 10% following the release of full-year corporate results.

With a mere 1% higher revenue than the year before, the company's top line landed at €42 billion in fiscal 2019, while its net loss widened to €304 million from last year's €62 million. Loss per share also increased by as many as five times, jumping from €0.10 in 2018 to €0.49 this year.

Blaming restructuring costs, the company announced it expects an even wider net loss in 2020.

ThyssenKrupp's stock plummeted 10.66% at 9:35 am CET, selling for €12.09 and reaching a fresh two-month low.

Related Links: ThyssenKrupp AG
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Breaking the News / GG