FRANKFURT, May 17 (Reuters) - ThyssenKrupp AG aims to cut its net debt to considerably below four billion euros ($4.81 billion) by the end of the fiscal year ending September 30, the company said on Monday.
"By the end of the fiscal year we intend to reduce the net financial payables to significantly below four billion euros," Chief Financial Officer Stefan Kirsten told analysts during a conference, giving the first concrete timetable on its debt reduction plans.
Net debt amounted to 4.28 billion euros at the end of the company's second quarter.