Business

Thyssenkrupp raises full-year forecast on automotive recovery

German conglomerate Thyssenkrupp on Wednesday raised its full-year outlook for sales, cash flow and profits, citing improved demand for automotive components and materials.

The logo of Thyssenkrupp is seen near elevators in its headquarters in Essen
FILE PHOTO: The logo of Thyssenkrupp is seen near elevators in its headquarters in Essen, Germany, November 21, 2019. REUTERS/Leon Kuegeler

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FRANKFURT: German conglomerate Thyssenkrupp on Wednesday raised its full-year outlook for sales, cash flow and profits, citing improved demand for automotive components and materials.

"In a continuing uncertain market environment, we had a good first quarter: we're noticing signs of an economic recovery and our measures to improve performance in the businesses are starting to bear fruit," Chief Executive Martina Merz said.

(Reporting by Christoph Steitz, editing by Kirsti Knolle)

Source: Reuters