thyssenkrupp’s H1 net income down 89% y/y to USD40.4 million
German supplier revises full-year financial outlook
Germany-based diversified supplier thyssenkrupp reported 89% year-over-year (y/y) decline in net income to EUR36 million (USD40.4 million) in the first half ended 31 March 2019, the company said in a press release on 14 May. Net sales increased marginally by 2% y/y to EUR20.4 billion. Despite higher sales, thyssenkrupp’s EBIT dropped by 48% y/y to EUR442 million, resulting in EBIT margin of 2.2%. The company recorded adjusted EBIT of EUR685 million and adjusted EBIT margin of 3.4%.
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