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May 11, 2021, 1:12 a.m. EDT

Thyssenkrupp narrows losses, lifts guidance

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By Cecilia Butini

German industrial conglomerate Thyssenkrupp AG said Tuesday that its second-quarter net loss narrowed from the previous year despite sales and order intake remaining lower, and raised its outlook for the full year.

The company reported a net loss of 211 million euros ($255.9 million) for the quarter compared with a net loss of EUR948 million for the same period a year prior, on sales that fell to EUR8.58 billion from EUR10.11 billion the previous year.

Adjusted earnings before interest and taxes came in at EUR220 million, from a loss before interest and taxes of EUR95 million the previous year.

The company raised its view for fiscal 2021, and expects sales growth in the low two-digit percentage range, while adjusted earnings before interest and taxes are expected to be in the mid three-digit million euro range.

It had previously said it expected sales to grow in the high single-digit percentage range but to remain well below the level prior to the pandemic.

Write to Cecilia Butini at cecilia.butini@wsj.com

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