Thyssenkrupp, the industrial conglomerate, raised its forecast for free cash flow on Thursday. It cited 1 billion euros in advance payments related to a large submarine order from the German military.

The company expects to have a free clash flow between 0 and $300 million euros by 2025. Previously, it had forecasted a range of negative 200-400 millions.

Thyssenkrupp, citing a "persistently challenging market environment", also reduced its sales forecast for the year. It now expects revenues to be flat or even fall by up to 3%.

It had previously expected sales to increase by up to 3%.

The adjusted operating profit increased by more than two-thirds to 191 millions euros. Order intake increased more than half, to 12,48 billion dollars, thanks to Germany's decision of ordering four submarines at a cost of around 4.7 billion.

(source: Reuters)