German industrial group Thyssenkrupp has widened its net loss by more than five times in the third quarter of its 2024-2025 financial year, worsening its full-year forecast amid weakening demand for its products following the imposition of import duties on US imports.
According to a company press release, the net loss totalled €278 million in the April-June period, up from €54 million in the comparable period a year earlier.
Adjusted EBIT, which Thyssenkrupp considers a more informative measure, increased 4% to €155 million.
Revenue fell 9% to €8.15bn.
Analysts, whose consensus forecast is cited by the company itself, had expected adjusted EBIT of €174 million on revenue of €8.74 billion.
Thyssenkrupp has revised its 2024/2025 FY forecast and now expects a 5-7% decline in revenue, whereas it had previously forecast a 0-3% decline. As a result, the company estimates that annual adjusted EBIT will fall to the lower end of the forecast range of €600m to €1bn.
Thyssenkrupp’s share price is down 9% during trading on Thursday. Since the beginning of the year, the market value of the company jumped 2.3 times (to 6.05 billion euros), while the DAX stock index added 21.8%.