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Thursday, February 14


News

ThyssenKrupp (TKA) PT Set at €23.00 by Jefferies Financial Group – PressOracle

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Jefferies Financial Group’s price target points to a potential upside of 68.01% from the company’s current price. Finally, Kepler Capital Markets set a €35.00 ($40.70) price target on shares of ThyssenKrupp and gave the stock a “buy” rating in a report on Thursday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. ThyssenKrupp has a fifty-two week low of €20.70 ($24.07) and a fifty-two week high of €27.01 ($31.41).

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Wednesday, February 13


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Thyssenkrupp employees will not support Tata JV at any price

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Thyssenkrupp employees will not support Tata JV at any price. ReutersFebruary 13, 2019, 10:12 AM GMT. DUESSELDORF, Germany (Reuters) - Labour leaders, who hold half the seats on Thyssenkrupp's supervisory board, will not support a planned joint venture with Tata Steel if concessions in ongoing antitrust proceedings go too far, a union representative said. "We won't support a merger at any price," Markus Grolms, vice chairman of Thyssenkrupp's supervisory board and secretary at IG Metall, Germany's biggest labour union, told Reuters. What to read next.

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Tuesday, February 12


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Thyssenkrupp bows to activist investor by simplifying organisation

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FRANKFURT (Reuters) - Thyssenkrupp's decision to simplify its corporate structure marks a victory for activist investor Cevian as the German conglomerate strives to keep shareholders onboard with its broader restructuring plan. Alongside a weak set of first-quarter results on Tuesday, the submarines-to-elevators group said it would scrap its matrix structure, which has long been criticised by investors for adding costs and slowing down decision making with its multiple leadership layers based on products and regions. Cevian, Thyssenkrupp's second-largest shareholder with an 18 percent stake, has been one of the more vocal critics of the matrix structure, calling for a more nimble and leaner set-up for the maker of everything from chemical plants to car parts. "The decision of Thyssenkrupp's management team to remove the matrix structure is a major step to free entrepreneurial forces and increases accountability of management," Lars Foerberg, founding partner of Cevian Capital, said in a statement sent to Reuters.

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Thyssenkrupp says cannot compare Tata JV with Siemens/Alstom

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FRANKFURT (Reuters) - Thyssenkrupp downplayed concerns over antitrust scrutiny with regard to its planned joint venture with Tata Steel, saying it could not be compared with a vetoed rail tie-up of Siemens and Alstom. "You cannot put the same label on it at all," Guido Kerkhoff told journalists on Tuesday, adding that the European steel sector had witnessed several large transactions in the past that were approved by regulators after remedies had been offered. The European Commission is expected to send a charge sheet known as a statement of objections to Thyssenkrupp this week, which usually sets out serious competition concerns which companies have to address, sources told Reuters on Monday. EU anti-trust regulators last week rejected a planned rail businesses joint venture between Alstom and Siemens, saying that it would have hurt competition and led to higher prices for consumers, despite concessions offered by the companies.

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Thyssenkrupp warns of economic pressure as profit falls

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* Q1 adj EBIT down 26 pct at 333 mln eur. * Shares (Berlin: DI6.BE - news) indicated 1.7 pct higher pre-market. FRANKFURT/DUESSELDORF, Feb 12 (Reuters) - Steel-to-elevators group Thyssenkrupp (IOB: 0O1C.IL - news) on Tuesday warned of a darkening economic backdrop, a key driver of demand for its products, signalling tough times for its capital goods business ahead of a planned spin off. First (Other OTC: FSTC - news) -quarter adjusted EBIT fell 26 percent to 333 million euros, Thyssenkrupp said, pulled down by a 77 percent slump in profit at its discontinued steel unit which it plans to merge with the European operations of India's Tata Steel (BSE: TATASTEEL.BO - news) .

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Monday, February 11


News

Thyssenkrupp, Tata Steel Set To Get EU Warning On Steel JV: Report

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Thyssenkrupp, Tata Steel Set To Get EU Warning On Steel JV: Report. EU antitrust regulators will likely warn this week Germany's Thyssenkrupp and India's Tata Steel about their landmark joint venture unless they pre-empt the move by offering concessions, people familiar with the matter said on Monday. The European Commission is expected to send a charge sheet known as a statement of objections to the companies, the people said. The EU competition enforcer opened an in-depth investigation into the deal in October last year and singled out issues in steel for car parts, packaging such as food and aerosol cans and electrical steel for engineering products including transformers.

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Exclusive: Thyssenkrupp, Tata Steel to get EU warning on steel JV - sources

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Exclusive: Thyssenkrupp, Tata Steel to get EU warning on steel JV - sources. BRUSSELS (Reuters) - Germany's Thyssenkrupp and India's Tata Steel will be warned this week that EU antitrust regulators could veto their planned European steel joint venture unless they offer concessions, people familiar with the matter said on Monday. Thyssenkrupp said it was the group's understanding that such a statement would be sent by the European Commission in the course of the week, adding this was previously expected and would serve as the basis for further talks. The EU competition enforcer opened an in-depth investigation last year and identified issues in steel for car parts, packaging such as food and aerosol cans and electrical steel for engineering products including transformers.

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Friday, February 01


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Thyssenkrupp's CEO says first quarter in line with outlook, shares rise

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Thyssenkrupp's CEO says first quarter in line with outlook, shares rise. BOCHUM, Germany (Reuters) - Thyssenkrupp said on Friday its first-quarter earnings would fall but be in line with its outlook, giving its ailing shares a much-needed jolt ahead of an ambitious plan to spin off its capital goods businesses. "Traditionally, the first quarter is the weakest for Thyssenkrupp. But we are fully in line with our guidance, which means down from the prior-year quarter," Guido Kerkhoff told shareholders at the group's annual general meeting. The steel-to-elevators group, which is scheduled to present first-quarter results on Feb. 12, confirmed its outlook for 2018/19, saying it was still expecting adjusted operating profit from continuing operations of more than 1 billion euros ($1.2 billion).

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Thyssenkrupp boss defends break-up as scepticism persists

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Guido Kerkhoff, CEO of steelmaker Thyssenkrupp AG and Martina Merz, designated chairwoman of the supervisory board of Thyssenkrupp, pose in front of the company logo before the annual shareholders meeting in Bochum, Germany, February 1, 2019. BOCHUM, Germany (Reuters) - Thyssenkrupp boss Guido Kerkhoff on Friday sought to drum up support among small shareholders for a plan to break up the steel-to-elevators group, facing criticism about the lack of concrete details over how the move will lead to better results. Shareholders are expected to vote on the plans at the next general meeting in a year's time and are awaiting further details on the transaction - including the organizational set-up and capital markets day - during the course of the year. "This gives us the strategic clarity we urgently need. In this way, we enable the businesses to develop faster and more dynamically," Kerkhoff, 51, told shareholders at the group's annual general meeting on Friday.

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Thursday, January 31


News

Thyssenkrupp must raise margins - shareholder DWS

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FRANKFURT/DUESSELDORF (Reuters) - Thyssenkrupp, in the midst of a major restructuring, needs to raise profit margins to avoid falling further behind rivals, one of the group's shareholders said on Thursday, a day ahead of the steel-to-elevator group's annual general meeting. The group's adjusted profit margin fell to 3.6 percent last year from 4.4 percent in 2017, even though it slashed its corporate costs by 29 percent to 377 million euros (330 million pounds). Thyssenkrupp Chief Executive Guido Kerkhoff is expected to try and drum up support for the plan when he faces shareholders at the annual general meeting in Bochum on Friday. Ohme said the breakup was a good move in principle, adding mid-term margin targets for the group's individual business units announced in November were acceptable. Asset manger DWS reduced its actively managed position in the steel-to-submarines conglomerate last year, which included the resignation of its former chief executive and chairman, two profit warnings and management reshuffles at some divisions.

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