Thyssenkrupp raises sales forecast, cuts free cash flow outlook

German conglomerate Thyssenkrupp on Wednesday raised its outlook for sales and operating profit for 2022 but cut its free cash flow forecast, reflecting a rise in both selling prices and commodity costs. The submarines-to-car parts group expects its free cash flow before mergers and acquisitions to be in negative triple-digit million euros, compared with its previous forecast for a break-even. The group said it aims to return to paying dividends and generate positive cash flows, adding Russia's invasion of Ukraine made “it more difficult to predict when precisely we will achieve these goals”.