May 12, 2020 / 5:00 AM / 25 days ago

Thyssenkrupp Q2 loss widens as coronavirus impact starts to show

FRANKFURT, May 12 (Reuters) - Thyssenkrupp on Tuesday said its second-quarter net loss more than quintupled as the coronavirus pandemic hit all business lines at the struggling steel-to-submarines conglomerate.

The group posted a 948 million euro ($1.02 billion) net loss in the quarter to March and said that in the current quarter losses could reach up to 1 billion euros, as the group eagerly awaits a cash inflow from the sale of its elevator division.

$1 = 0.9252 euros Reporting by Christoph Steitz Editing by Michelle Martin

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