Frankfurt/DueSsseldorf (Reuters) – The industrial conglomerate Thyssenkrupp noted its forecast of available cash flow on Thursday, thanks to an early payment of one billion euros for a large order of submarines from ‘German army.
This recovery highlights the solidity of the Thyssenkrupp war ships division, which the group plans to give in, against the backdrop of increased military expenditure of governments in an uncertain geopolitical context.
In December, Germany approved the purchase of four submarines manufactured by Thyssenkrupp as part of an agreement worth 4.7 billion euros.
Thyssenkrupp now provides a cash flow available before mergers and acquisitions, a key indicator of its ability to generate profits, between 0 and 300 million euros in 2025. It previously provided for a negative flow of the order of 200 million to 400 million euros.
Citing an “still very difficult market environment”, Thyssenkrupp has nevertheless lowered its forecasting of turnover for the year, now expecting revenue stability, or even a decrease of up to 3%, against a planned increase 3% previously.
The adjusted operating profit in the first quarter has more than doubled to reach 191 million euros, mainly thanks to the group’s steel division, whose costs of raw materials and energy have dropped.
Orders have increased by more than 50%, reaching 12.48 billion euros, thanks to the order of German submarines.
(Written by Christoph Steitz and Tom Kaeckenhoff; Noémie Naudin, edited by Blandine Hénault)
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