According to report, German steelmaker ThyssenKrupp sees its profit will fall this year on continuous bad market conditions.
The growth will remain slow as demand from auto industry is expected to decline. The company’s five divisions will make about revenue of €40 billion; however, earnings will drop to €1 billion from €1.4 billion last fiscal year.
European division makes about 30% of group’s revenue but it will face challenges this year, especially after Russia joined the WTO.
The company may adjust its plan for shorter operations at some plants on lower demand and it will strengthen more in its steel operation in Europe.