Vladimír Urbánek (Kurzy.cz)
World markets  |  December 11, 2012 10:29:52

ThyssenKrupp does not pay any dividends for the fiscal year just ended

Germany's largest and the world's leading steel producer, ThyssenKrupp announced that for the fiscal year ended September does not pay any dividends. Company registered in 3Q net loss of $ 4.7 mld.EUR after losing 1.29 mld.EUR in 2Q.
Significant loss for Q3 was due to one-time write-off after selling U.S. Steel Americas division with a total value of 3.6 billion. Steel mills also suffered losses in their operations in the U.S. and Brazil. The company will reduce the number of local operations from 8 to 5 The main reason is the decrease in demand of automobile and construction industries pushing down prices and margins of steel producers.

The previous fiscal year, the company paid € 0.45 per share. The company has paid a dividend every year since at least 2000.

The company reported that profit before tax and depreciation Division Inoxum fell in Q3 by 77% to 399 million euros, which was but slightly better than the market expected 397.1 million euros. Revenues from ongoing operations decreased by 6% to 40.1 mld.EUR.
Company estimates adjusted EBIT for the fiscal year at 1 mld.EUR with sales at 40 mld.EUR. According to management cost savings over three years to support the EBIT amount roughly two mld.EUR.

Net debt of the company went up from 3.6 to 5.8 mld.EUR. The company ended the fiscal year with cash or with free liquid resources of 6.7 mld.EUR.
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ThyssenKrupp nevyplatí žádné dividendy za právě ukončený fiskální rok

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