From Breakingviews - Thyssenkrupp gives investors wrong kind of breakup
the company’s crown jewels, its lifts business, to private equity for 17 billion euros. Yet life since then has been harder: JPMorgan reckons the group has burned 2.5 billion euros of cash since the elevator sale. Progress on a listing of Thyssenkrupp’s hydrogen business or a steel spinoff has been slow, despite a
to hive off weaker units. Analysts expect an EBIT margin of just over 3% by 2025, far below the target of 4% to 6%, according to Refinitiv data.executive, Miguel Ángel López Borrego, to replace Merz. Yet investors still smarting from a minus 37% total return under its last bold CEO now seem to be expecting more of the same.
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