(Bloomberg) -- Thyssenkrupp AG suspended its full-year forecast for free cash flow before mergers and acquisitions, citing the impact of Russia’s invasion of Ukraine on raw material prices, primarily affecting its steel and automotive supply businesses.
“Although the group’s sales in Russia and Ukraine are negligible at significantly less than one percent of total sales, the Executive Board estimates that the group’s business performance will be impacted by the far-reaching macroeconomic and geopolitical consequences of the war in Ukraine,” the German company said Wednesday in a statement.
