FRANKFURT, May 15 (Reuters) - German steelmaker ThyssenKrupp took another writedown on its Steel Americas business, which it has been trying to sell, causing an unexpected quarterly loss.
For the fiscal second quarter through the end of March, ThyssenKrupp posted a net loss of 656 million euros ($851 million), weighed down by a 683 million-euro impairment loss, the company said on Wednesday.
Analysts had on average expected ThyssenKrupp to swing to a profit of 25.5 million euros. The writedown also pushed the company’s debt load back up, to 5.3 billion euros, from 5.2 billion at the end of December.
$1 = 0.7705 euros Reporting by Maria Sheahan; Editing by Harro ten Wolde