Germany-based steelmaker ThyssenKrupp has announced its financial results for the first half ended March 31 of the fiscal year 2016-17. In the first half, ThyssenKrupp registered a net loss of €855 million compared to a net loss of €9 million in the corresponding period of the previous year. Meanwhile, ThyysenKrupp's adjusted EBIT from continuing operations increased by 30 percent year on year to €756 million.
During the given period, ThyssenKrupp's order intake amounted to €21.95 billion, rising 16.5 percent, while the company's sales revenue increased by 8.6 percent to €21.08 billion, both year on year.
In the first half of the fiscal year 2016-17, Steel Europe's order intake increased by 12.2 percent to €4.52 billion, with sales revenues rising by 17.2 percent to €4.27 billion, both year on year. In the given period, Steel Europe's adjusted EBIT rose by 3.5 percent year on year to €119 million.
The company stated that for the full fiscal year 2016-17 it is revising its forecast for adjusted EBIT thanks to its good operating performance. Accordingly, for the 2016-17 financial year, ThyssenKrupp expects an adjusted EBIT of €1.8 billion compared to the previous guidance of €1.7 billion.