Robust Order Intake ThyssenKrupp in 3Q but Pricing Pressure and Elevated Costs Depress Profitability
ThyssenKrupp reported a mixed third quarter 2018 with profitability slightly below our expectation, especially for the firm's elevator business, but higher than expected order growth. Corrected for currency and portfolio effects, ThyssenKrupp's order intake (up 10%) and sales (up 9%) grew due to solid organic growth in the capital goods businesses, including components technology, or CT, and elevator technology, or ET, and continued recovery of spot prices in materials business areas. Despite we...ThyssenKrupp is the parent company of the ThyssenKrupp Group. Co. has six business areas: Components Technology, which provides components for the automotive and machinery sectors; Elevator Technology, which supplies passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts; Industrial Solutions, which comprises the System Engineering and Marine Systems units; Materials Services, which focuses on materials distribution and technical services; Steel Europe, which develops, produces and markets flat carbon steel in the European market; and Steel Americas, which produces, processes and markets steel products in North and South America.
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