Don't want to miss the best from Business Standard?
FRANKFURT (Reuters) - Thyssenkrupp on Thursday posted better-than-expected third quarter orders and profits but toned down its outlook for free cash 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 cash inflow at the end of the year, leading Thyssenkrupp to expect free cash flow before M&A 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)
Disclaimer: No Business Standard Journalist was involved in creation of this content
