Thyssenkrupp has benefited from higher steel prices in the first few months of this year, but is struggling elsewhere with higher costs for raw materials, energy and transport. Germany’s largest steelmaker reports earnings before interest and taxes of around 800 million euros for the past quarter, after a loss in the same period last year. Thyssenkrupp has now revised its profit forecast for the current fiscal year upwards by 200 to 500 million euros. As a result, the group temporarily gained eleven percent in value on the stock exchange on Wednesday. However, Thyssenkrupp is feeling in the supply business that the automotive industry in particular has needed fewer components. The industry is producing less because, for example, it is missing cable harnesses as a result of the war in Ukraine, and semiconductors are in short supply worldwide.
Thyssenkrupp – Expensive Steel – Economy
