FRANKFURT (Reuters) -Thyssenkrupp kept its outlook for the fiscal year and expects a more stable market environment in the second half of 2025, it said on Thursday, after lower prices and demand as well as maintenance-related shutdowns caused quarterly profit to plunge.
Second-quarter adjusted operating profit (EBIT) fell 90% to 19 million euros ($21 million), the submarines-to-car parts maker said, with its steel division swinging to a 23-million-euro loss, compared with a 68-million profit last year.
“The persistently difficult market environment is reflected in our operational figures for the second quarter,” CEO Miguel Lopez said. “In the second half of the year, we are expecting a more stable market environment and positive effects from the measures we have initiated.”
The German conglomerate said it still expects adjusted operating profit (EBIT) of 600 million to 1 billion euros and free cash flow before M&A of between 0 and 300 million euros.
Second-quarter adjusted EBIT at the group’s submarine division, which is currently being prepared for a spin-off later this year, rose 24% to 31 million euros.
($1 = 0.8948 euros)
(Reporting by Christoph Steitz; Editing by Lisa Shumaker and Rachel More)
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