Steely Resolve

ThyssenKrupp Moves Out of Intensive Care

Metal workers. Source: DPA
Metal workers.
  • Why it matters

    Why it matters

    Germany’s largest steel producer ThyssenKrupp still needs to prove it can turn around some loss-making operations in Brazil and Europe, and increase overall profitability.

  • Facts

    Facts

    • ThyssenKrupp reported a profit of €195 million in book year 2013-2014 after more than €8 billion in losses the preceding three years.
    • Chief executive, Heinrich Hiesinger has worked hard to make ThyssenKrupp less dependent on steel production and sell more technical products, ranging from elevators to automotive systems to wind turbine parts.
    • ThyssenKrupp must compete with global players including  ArcelorMittal & Nippon Steel and Sumitomo Metal of Japan.
  • Audio

    Audio

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Steel maker ThyssenKrupp has announced its first dividend payment in in three years, in a sign of growing confidence in its recovery, but chief executive Heinrich Hiesinger said the company still has a way to go before it stabilizes fully.

Reporting the company’s annual results Thursday, Mr, Hiesinger said he was aware that the dividend payment “is no more than a signal to our shareholders,” that the company is on the right track.

Mr. Hiesinger took the helm at Germany’s largest steel maker in January 2011 to turn around loss-making operations. Until today, he was only able to report annual losses, amounting to €8.4 billion in total from 2010 to 2013.

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