Thyssenkrupp’s full-year results were significantly affected by the fallout from the Covid-19 pandemic.
In the eurozone, economic output recovered in the third quarter of 2020, after the measures to contain Covid-19 were eased in most countries. But it was expected to decline significantly in October-December due to the reintroduction of lockdown measures.
A slump in automotive industry activity in the first half of 2020 greatly affected Thyssenkrupp’s materials and components businesses. A clear recovery by the automotive industry was expected in 2021, although a return to pre-pandemic figures was not expected before 2023.
The company’s Steel...