Thyssenkrupp posts wider Q1 loss as restructuring costs weigh

German industrial group Thyssenkrupp on Thursday reported a wider first-quarter net loss of €334 million ($396.7 million) compared to a loss of €33 million in the prior year.

Loss per share was €0.57 compared to a loss of €0.08. The company noted that the negative result is mainly attributable to the restructuring expenses for the Steel Europe segment of €401 million.

Also, impairment losses in connection with the planned sale of the core business of automation engineering had a negative effect on results.

Adjusted earnings before interest and taxes (EBIT) improved 10% to €211 million.

First-quarter group sales were €7.2 billion, compared to €7.8 billion last year, reflecting the persistently weak market environment.

Order intake was €7.7 billion, compared to €12.5 billion. The company noted that during the prior-year period, two larger new construction contracts had been recorded at its marine systems unit.

Chief executive Miguel López said: "The first quarter has shown again:Step by step we are strengthening our competitiveness while driving the Group's transformation with determination."

Thyssenkrupp confirmed the group forecast for fiscal 2025-2026. The company said it will continue to focus on ACES 2030 future model.

At last close on XETRA, Thyssenkrupp shares were trading at €12.28, up 4.38%.