Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Baoshan Iron & Steel Co., Ltd.    600019   CNE0000015R4

BAOSHAN IRON & STEEL CO., LTD.

(600019)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Thyssenkrupp must quickly present strategy, steel solution - Deka

share with twitter share with LinkedIn share with facebook
07/28/2020 | 09:40am EDT
FILE PHOTO: ThyssenKrupp steel factory in Duisburg

Conglomerate Thyssenkrupp must soon find a solution for its struggling steel unit and say how it will spend the 17.2 billion euros ($20.2 billion) in proceeds from the sale of its elevator division, a top-20 investor said.

"There has to be a solution for steel in the near term. It would be good if there was clarity until the next annual general meeting," said Ingo Speich, head of sustainability and corporate governance at Deka Investment, Thyssenkrupp's 11th-largest shareholder, who has been an outspoken critic of Thyssenkrupp's performance in the past.

Speich's remarks come ahead of the deal's closing, which sources say is expected on Friday.

Thyssenkrupp's next AGM is scheduled for Feb. 5, 2021.

The group has said it might sell, keep or merge its steel division with a peer, with Salzgitter, Tata Steel, SSAB and Baoshan Iron & Steel all considered potential partners, sources have said.

"Completely divesting steel will be difficult," Speich said, adding a joint venture or merger with a peer would be the most likely options.

"Time is against Thyssenkrupp and in favour of its peers," Speich said.

The sale of elevators to a consortium of Advent, Cinven [CINV.UL] and Germany's RAG foundation will effectively hand Thyssenkrupp a financial lifeline to turn around its other business units, which range from car parts to submarines.

But the group has signalled that most of the proceeds will be used up by cutting down debt, paying off pension liabilities and for offsetting business lost thanks to the coronavirus pandemic, leaving little to fund future projects.

One of the people said that less than 2 billion euros might be available to invest in growth.

Thyssenkrupp's shareholders are not expected to get a share either, Speich said: "The company needs every cent."

Thyssenkrupp declined to comment.

(Editing by Edward Taylor and David Evans)

By Christoph Steitz


Stocks mentioned in the article
ChangeLast1st jan.
BAOSHAN IRON & STEEL CO., LTD. 0.55% 5.46 End-of-day quote.-4.88%
SALZGITTER AG -2.99% 12.395 Delayed Quote.-35.58%
SSAB -0.47% 25.43 Delayed Quote.-22.28%
TATA STEEL LIMITED -2.12% 402.3 End-of-day quote.-14.77%
THYSSENKRUPP AG -3.93% 3.883 Delayed Quote.-66.38%
share with twitter share with LinkedIn share with facebook
All news about BAOSHAN IRON & STEEL CO., LTD.
06:00aChina Baosteel quarterly profit jumps on economic recovery and cost cuts
RE
10/19Tokyo Steel to keep product prices steady in November
RE
09/16China Baowu Group expands to take over Chongqing Iron & Steel
RE
09/15Tokyo Steel to raise product prices in October by 2.2%-3.4%
RE
09/09Salzgitter CEO rejects idea of steel alliance with Thyssenkrupp
RE
08/31CHINA'S IRON ORE IMPORTS SET FOR STR : Russell
RE
08/31CHINA'S IRON ORE IMPORTS SET FOR STR : Russell
RE
08/28China Baosteel's first-half net profit tumbles, hurt by coronavirus, rising ..
RE
08/28China Baosteel's H1 net profit tumbles, hurt by coronavirus, rising ore cost..
RE
08/25BAOSHAN IRON & STEEL CO., LTD. : half-yearly earnings release
More news
Financials
Sales 2020 276 B 41 131 M 41 131 M
Net income 2020 8 949 M 1 333 M 1 333 M
Net Debt 2020 28 100 M 4 187 M 4 187 M
P/E ratio 2020 13,5x
Yield 2020 3,78%
Capitalization 123 B 18 271 M 18 317 M
EV / Sales 2020 0,55x
EV / Sales 2021 0,52x
Nbr of Employees 52 323
Free-Float 29,7%
Chart BAOSHAN IRON & STEEL CO., LTD.
Duration : Period :
Baoshan Iron & Steel Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BAOSHAN IRON & STEEL CO., LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 6,13 CNY
Last Close Price 5,46 CNY
Spread / Highest target 50,2%
Spread / Average Target 12,3%
Spread / Lowest Target -10,3%
EPS Revisions
Managers
NameTitle
Ji Xin Zou Chairman
Yong Hong Zhu Chairman-Supervisory Board
Mei Fen He Member-Supervisory Board
Jin Gang Zhang Director
Han Sheng Yu Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
BAOSHAN IRON & STEEL CO., LTD.-4.88%18 073
CITIC PACIFIC SPECIAL STEEL GROUP CO., LTD.20.92%12 235
CHINA STEEL CORPORATION-14.02%11 081
JSW STEEL LIMITED13.26%9 898
EVRAZ PLC-10.92%6 807
BLUESCOPE STEEL LIMITED1.66%5 448