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rdf:type	schema:NewsArticle
schema:articleBody	German industrial conglomerate Thyssenkrupp on Thursday reported slumping operating profits in October-December while locked in a struggle to free itself from years of crisis. The floundering steel division plunged into the red in the first quarter of its 2019-20 financial year, helping drag Thyssenkrupp's adjusted operating profit down 77 percent year-on-year to 50 million euros ($54 million). "Continuing weak sales on the world's biggest market China" also weighed on the group's car components division. And the group-wide bottom line showed yet another net loss, although Thyssenkrupp also reported stable revenues and order intake only slightly down on late 2018. "The latest figures are not great. But we are convinced that we are on the right track," chief executive Martina Merz said in a statement. She reiterated that a decision is "imminent" on whether to sell off or float on the stock market the highly profitable elevators business, which bosses hope will provide a cash injection of up to 15 billion euros to pump into the weaker divisions. Finnish competitor Kone is top of the list of potential buyers, and has said it bid 17 billion euros for the lifts unit. Thyssenkrupp, whose products range from raw steel to submarines and construction materials, booked a net loss of 304 million euros in its 2018-19 full year. Bosses said Thursday they hope to bring in operating profits around last year's level of 802 million euros in 2019-20, but said the bottom line would show a "significantly higher net loss" as costs for restructuring measures pile up. ylf/tgb/ach
schema:headline	Thyssenkrupp profits squeezed as restructuring drags on
schema:mentions	Merz Pharma Industry Stock market Steel Finland China Floundering Yttrium lithium fluoride Drag coefficient Kone Chaebol
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-02-13 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	80 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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