The following is a summary of the Thyssenkrupp AG (TYEKF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Thyssenkrupp reported Q1 sales of €8.2 billion, down 9% from the previous year due to lower spot market prices affecting the materials businesses.

• Adjusted EBIT for the quarter was €84 million, meeting the guidance expectations.

• Free cash flow before M&A was negative at minus €531 million, expected to reverse later in the fiscal year.

• Thyssenkrupp maintained a net cash position of €3.8 billion for the group, marking a decrease of €0.4 billion year-to-date.

• The company confirmed their full-year guidance and reiterated their mid-term targets until 2024/'25, including a dividend of €0.50 per share.

Business Progress:

• Thyssenkrupp simplified its structure and now reports for five segments, including Decarbon Technologies, to increase efficiency.

• The performance program APEX, aimed at improving operations, is reportedly on track with over 2,500 measures.

• Thyssenkrupp is transitioning to use green alternatives to fossil fuels in a bid to reduce emissions and operational costs.

• Progress was observed in Automotive Technology and Material Services sectors, with robust market conditions and ongoing efficiency measures respectively.

• The company reported an order backlog of €12.7 billion at the end of Q1 and expects further market engagement to stimulate EBIT development across all sectors.

• Investment in cloud infrastructure with consequent growth initiatives is expected to impact positively later in the fiscal year.

More details: THYSSENKRUPP AG IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.