Thyssen Krupp announces Q3 results

Thyssen Krupp announces Q3 results

German steelmaker Thyssen Krupp announced its sales and pre-tax profit for the third fiscal quarter ended June 30, 2003. The third quarter fiscal results continued to be impacted by the weak state of the world economy.Thyssen Krupp's sales were €8.9 billion in the third quarter, 8% down from the same period last year while its pre-tax profit decreased from €316 million to €221 million by 30.6%. In addition, EBITDA decreased to €645 million in the same comparison. Company officials do not expect a rapid improvement in the coming months due to declining orders in key sectors.