Germany-based steelmaker ThyssenKrupp has announced its financial results for the first quarter ended December 31 of the financial year 2012-13.
In the given quarter, ThyssenKrupp's net profit amounted to €29 million, decreasing by 29 percent year on year, as a result of the persistent weakness of the European market and a year-on-year decrease in selling prices.
The order intake of ThyssenKrupp in October-December remained almost flat at €9.64 billion, while sales decreased by eight percent to €8.8 billion, compared to the corresponding quarter of the previous year. Including the discontinued operations Steel Americas and Stainless Global, order intake of ThyssenKrupp in the first quarter slipped by one percent to €11.2 billion, while sales were seven percent lower at €10.4 billion, both year on year.
According to ThyssenKrupp's statement, in the given quarter crude steel production including the supplies from Hüttenwerke Krupp Mannesmann decreased by seven percent to 2.6 million mt, compared to the same quarter of the previous year when the blast furnace No. 9 was still in operation.
ThyssenKrupp expects sales to remain unchanged at around €40 billion in the financial year 2012-2013, compared to the previous year, provided there are no major dislocations in the raw materials markets.