Financial PerformanceQ3 free cash flow of €569 million decreased by 61% due to lower net working capital inflow of €0.5 billion, with earnings remaining depressed.
Guidance And ForecastThe company's full-year 2024 EBITDA guidance of EUR 8.0-8.6 billion seems highly unlikely to be met given the persistent low demand in industries such as construction or automotive.
Operational ChallengesCost savings are generally only sufficient to offset cost inflation, failing to meaningfully close the gap to industry peers.