Germany-based steelmaker ThyssenKrupp has announced its financial results for the financial year 2013-14 ended September 30, returning to profit for the first time in three years. For the full financial year, ThyssenKrupp registered a net profit of €195 million, compared to a net loss of €1.57 billion in the previous financial year, despite significant provisions for restructuring expenses in the fourth quarter. Meanwhile, ThyssenKrupp's adjusted EBIT from continuing operations more than doubled year on year to €1.3 billion.
During the given period, ThyssenKrupp recorded an order intake increase of seven percent year on year to €41.4 billion, and sales revenue from continuing operations of €41.3 billion, also up seven percent, both year on year. In the full financial year, ThyssenKrupp's sales from continuing operations were higher year-on-year in all business areas except Steel Europe, where sales fell due to disposals.
In the financial year 2013-14, Steel Europe's shipments were largely unchanged year-on-year and increased on a comparable basis by one percent. However, a drop in production due to operational issues in the third quarter and lengthy disruptions to production and shipping logistics due to storm Ela had a major impact.
For the financial year 2014-15, ThyssenKrupp expects sales to grow year-on-year on a comparable basis by a single-digit percentage rate, estimating an adjusted EBIT of at least €1.5 billion. Despite growing uncertainty over the economic climate and limited visibility in the materials businesses, the company is confident about the prospects for ThyssenKrupp.