ThyssenKrupp almost triples earnings in Q1

ThyssenKrupp almost triples earnings in Q1

German steel producer ThyssenKrupp rode the wave of rising steel prices to a record pretax profit increase of almost 200% for the quarter ended December 2004. The company said its preliminary earnings for the quarter in question were €473 million; ThyssenKrupp had posted a profit of €168 million the year prior. Net income in the three-month period ended on December 31, 2004, increased to €275 million from €100 million recorded in the same period of 2003. Order intake increased to €10.9 billion and sales rose to €10.1 billion, up 17% and 20% against the previous year.