Thyssenkrupp reports margin drop at elevator, car parts units

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Thyssenkrupp reports margin drop at elevator, car parts units

FILE PHOTO: Flags with the new logo of ThyssenKrupp flutter in the wind outside the headquarters of the German steel maker and multinational conglomerate in Essen, Germany, April 27, 2016. REUTERS/Wolfgang Rattay/File Photo

ESSEN, Germany (Reuters) – Thyssenkrupp (TKAG.DE) on Wednesday reported a drop in operating margins at its car parts and elevator divisions, the core of a planned capital goods spin-off that has failed to provide a jolt to its tanking share price.

The group also provided an outlook for the ongoing financial year 2018/19, expecting adjusted operating profit from continuing operations, which excludes its European steel business, to rise by at least 42 percent to more than 1 billion euros (889.5 million pounds).

Reporting by Christoph Steitz; editing by Thomas Seythal

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