February 1, 2019 / 9:06 AM / 3 months ago

Thyssenkrupp expects weaker Q1 ahead of planned breakup

BOCHUM, Germany, Feb 1 (Reuters) - Thyssenkrupp on Friday said its first-quarter results would decline, marking a tough start to the year in which the conglomerate aims to implement key steps of an ambitious plan to break in two.

“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 is scheduled to present first-quarter results on Feb. 12.

Reporting by Christoph Steitz and Tom Kaeckenhoff; editing by Thomas Seythal

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