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On August 12, Germany-based steel giant ThyssenKrupp announced that in the first nine months of FY 2009-10, ended on June 30, it achieved a profit before taxes of €918 million thanks to order intake and sales increasing quarter by quarter.
 
In the first nine months of FY 2009-10, ThyssenKrupp's received orders rose eight percent to €30.6 billion, while its sales amounted to €31.1 billion, up one percent, both compared to the corresponding period of the previous fiscal year.
 
Based on the positive business trend in the first nine months of the fiscal year, ThyssenKrupp's outlook for full-year sales and earnings has improved. The company expects a slight increase in sales in the fiscal year 2009-10. Earnings are expected to improve significantly and to return to profit, thanks in part to the cost reduction programs it has initiated. Adjusted earnings before interest and taxes (EBIT) will probably exceed €1 billion, ThyssenKrupp said.