By Jenny Busche
FRANKFURT--ThyssenKrupp AG's (TKA.XE) Chief Executive Heinrich
Hiesinger on Friday confirmed the steelmaker's fiscal-year outlook
despite uncertainty in the global economy.
"The first quarter has been encouraging," and efficiency
improvements are effective, Mr. Hiesinger said at the company's
annual general meeting.
However, Mr. Hiesinger once again warned shareholders of the
tense balance-sheet situation amid cash-flow concerns.
"We have not yet achieved a turnaround for cash," Mr. Hiesinger
said. He added that he hoped to achieve "a minimum cash balance
pre-disposals" in the current fiscal year.
The company resumed its dividend payment after it reported its
first annual profit in four years, thanks a tough austerity
program. It had proposed a dividend of 11 cents a share.
"This is obviously no more than a signal," Mr. Heisinger
said.
For this fiscal year, ThyssenKrupp expects adjusted earnings
before interest and taxes to rise to at least 1.5 billion euros
($1.69 billion) from EUR1.3 billion a year earlier.
Write to Jenny Busche at jenny.busche@wsj.com
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