Germany-based steelmaker ThyssenKrupp has announced its financial results for the fiscal year 2016-17 ended September 30, stating that, despite difficult market conditions, it continues its good operating performance, achieving important milestones on its Strategic Way Forward, which the company has been implementing since May 2011 in order to position itself as a diversified industrial group.
In the given year, due to one-time earnings charges as a result of the sale of the Brazilian steel mill CSA in the second quarter, ThyssenKrupp registered a net loss of €591 million, compared to a net profit of €261 million recorded in the corresponding period of the previous year. Meanwhile, ThyysenKrupp's adjusted EBIT from continuing operations increased by 30 percent year on year to €1.91 billion.
During the given period, ThyssenKrupp's order intake amounted to €44.28 billion, up 18 percent, while the company's sales revenue rose by nine percent to €42.97 billion, both year on year.
In the fiscal year 2016-17, the order intake of the company's Steel Europe division in the given year increased by 10 percent to €8.96 billion, with sales revenues rising by 17 percent to €8.91 billion, both compared to the previous financial year.
The order intake of the company's Steel Americas division in the given year increased 23 percent year on year to €1.87 billion, while its sales revenues rose by 24 percent year on year to €1.84 billion.