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Thyssenkrupp posts strong third quarter, cuts free cash flow outlook

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - on Thursday posted better-than-expected third quarter orders and profits but toned down its outlook for free flow before M&A, citing the sale of its Brazilian steel mill CSA, which closes earlier than expected.

Thyssenkrupp, which earlier this year struck a deal to sell CSA Cia Siderúrgica do Atlántico SA to Ternium SA, posted a 14 percent rise in third-quarter order intake to 10.7 billion euros ($12.6 billion) and ajusted EBIT of 620 million.

It said the transaction's earlier-than-expected close meant that CSA would not provide inflow at the end of the year, leading to expect free flow before to be negative in the mid- to higher triple-digit million-euro range.

It was previously forecast to be a negative mid-triple-digit million-euro amount.

($1 = 0.8510 euros)

(Reporting by Christoph Steitz; Editing by Georgina Prodhan)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, August 10 2017. 10:47 IST