Thyssenkrupp Shares Rise as CEO Backs 2019 Guidance

   By Nathan Allen

Shares in Thyssenkrupp AG (TKA.XE) trade higher Friday morning after Chief Executive Guido Kerkhoff said the group is on track to achieve its financial targets for the 2019 fiscal year.

Speaking at the company's annual general meeting, Mr. Kerkhoff said the business had developed in line with expectations during the first three months of the fiscal year.

Adjusted earnings before interest and taxes are set to drop slightly in the first quarter, but should rise to more than 1 billion euros ($1.15 billion) over the course of the year, up from EUR706 million in the prior year.

"We are fully in line with our guidance," Mr. Kerkhoff said.

At 0936 GMT Thyssenkrupp was trading 4.8% higher at EUR16.21.

The group will publish first-quarter earnings on Feb. 12.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 01, 2019 05:06 ET (10:06 GMT)

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