Saturday , April 17 2021

Thyssenkrupp does not rule out additional financial risks



Essen (APA / Reuters) – Thyssenkrupp does not rule out additional financial risks due to the imminent antitrust fine in the steel sector. First of all, the current procedure should be awaited, said the Board of Compliance Donatus Kaufmann in an interview with the "Rheinische Post" (Saturday edition).

"It is true that we can not exclude additional risks to shareholders' equity, financial position and results of operations." More than a week ago, Thyssenkrupp acknowledged that it had already reduced its annual targets for the fiscal year 2017/18 (as of the end of September) due to the antitrust process. have lost The provisions should not be misinterpreted as a confession, Kaufmann said. He did not want to comment on the height. The process recently gained momentum. Thyssenkrupp had advanced its own investigation with an external law firm. "So we came to the conclusion that a probability of occurrence of more than 50 percent is possible," explained the history of provisions. The Bundeskartellamt's investigations into the groups of plate and specialty steel products have been under way for some time.

As a consequence of the procedure, Kaufmann can imagine a withdrawal from the Wirtschaftsvereinigung Stahl. "It is clear to us for a long time that there is an increased risk of antitrust violations at association meetings, after all, competitors are there." The association therefore reformed and adapted the bylaws. Now it's important to follow the new rules as well. "If not, we'll draw conclusions." But leaving the association is the Ultima Ratio. Thyssenkrupp has been target of the cartel in several occasions.

Group CEO Guido Kerkhoff, who is taking over as Chief Executive Officer about four months ago, presents the balance sheet for the last fiscal year 2017/18 on Wednesday.

~ ISIN DE0007500001 WEB http://www.thyssenkrupp.com/en/~ APA049 2018-11-17 / 08: 15


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