After a billion-euro loss last year, industrial conglomerate Thyssenkrupp closed the fiscal year with a profit of more than 500 million euros. Revenue fell by six percent to 32.8 billion euros. The company attributed this to reduced demand and lower prices, especially in materials trading and the steel division.

The high profit came about mainly through two developments: The value of the stake in elevator manufacturer TK Elevator has risen, which is positive for the balance sheet. And: Thyssenkrupp sold a special steel producer in India.

The number of employees fell to just under 93,400 people (minus five percent compared to the previous year).

The fiscal year was once again marked by geo- and economic policy challenges, said CEO Miguel López. Uncertain markets and weaker customer demand have noticeably slowed business. "Nevertheless, we were able to hold our own well through consistent efficiency improvements and cost reductions," López added.

400 to 800 million euro minus expected for the current fiscal year
Shareholders will receive 15 cents dividend per share, as in the previous year.
For the current fiscal year, the company expects stable revenue. A development between minus two and plus one percent compared to the previous year is anticipated.