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MarketScreener Homepage  >  Equities  >  Xetra  >  ThyssenKrupp AG    TKA   DE0007500001

THYSSENKRUPP AG

(TKA)
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Real-time Quote. Real-time Tradegate - 09/17 03:52:04 pm
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thyssenKrupp : Elevator proceeds must stay with Thyssenkrupp - steel labour boss

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09/12/2019 | 08:48am EDT
FILE PHOTO: Thyssenkrupp's logo is seen close to the elevator test tower in Rottweil

DUISBURG, Germany (Reuters) - Proceeds from a potential sale of Thyssenkrupp's elevator division must stay with the group, a leading labour representative said on Thursday, rejecting the idea of a special dividend for shareholders.

"We won't let that happen," Tekin Nasikkol, who heads the works council of Thyssenkrupp Steel Europe, told journalists. "The steel unit needs sufficient funds just like the other business areas," he added.

His remarks come a day after Thyssenkrupp's supervisory board reviewed first expressions of interest for the division, which some analysts say could be worth up to 17 billion euros (15.41 billion pounds).

Thyssenkrupp, in which Swedish activist fund Cevian owns 18%, is looking to list or sell Elevator Technology, which could bring in billions of euros of cash that is needed to pay pensions, cut debt and support its other struggling units.

"If someone like Cevian comes and says 'we'll reach into the cash register' then we're saying: not with us," Nasikkol said, adding he expected to clash with Thyssenkrupp management over a planned restructuring of the steel unit.

The turnaround plan, to be presented in late November, could include more job cuts at the steel unit than the 2,000 previously announced. Nasikkol said there would not be any compulsory layoffs.

(Reporting by Tom Kaeckenhoff; writing by Christoph Steitz; editing by Riham Alkousaa and Thomas Escritt)

Stocks mentioned in the article
ChangeLast1st jan.
KONE 0.19% 52.1 Delayed Quote.26.13%
THYSSENKRUPP AG 0.00% 12.89 Delayed Quote.-13.95%
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Financials (EUR)
Sales 2019 41 181 M
EBIT 2019 814 M
Net income 2019 -31,9 M
Debt 2019 3 994 M
Yield 2019 1,15%
P/E ratio 2019 -108x
P/E ratio 2020 16,2x
EV / Sales2019 0,29x
EV / Sales2020 0,30x
Capitalization 8 024 M
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Technical analysis trends THYSSENKRUPP AG
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 13,08  €
Last Close Price 12,85  €
Spread / Highest target 28,5%
Spread / Average Target 1,81%
Spread / Lowest Target -48,2%
EPS Revisions
Managers
NameTitle
Guido Kerkhoff Chief Executive & Financial Officer
Martina Merz Chairman-Supervisory Board
Martin Holz Chief Information Officer
Bernhard Pellens Member-Supervisory Board
Wilhelm Segerath Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
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NOVOLIPETSK STEEL PAO--.--%13 856
NIPPON STEEL CORP-14.98%13 416