On January 21, Düsseldorf, Germany-based technology and steelmaking group ThyssenKrupp issued an outlook report for its financial results for the first quarter of fiscal year 2010-11 ( Q1 FY 2010-11) that ended on December 31, pointing out that it expects year-on-year growth in order intake and sales, with provisional figures indicating that each will exceed €11 billion.
According to the ThyssenKrupp release, despite higher startup losses for the new steel plants in the USA and Brazil, adjusted earnings before interest and taxes or adjusted EBIT are expected to come in level with €277 million in the same period of the prior year.
With the exception of Steel Americas, all business areas made a positive contribution to this performance, ThyssenKrupp said, adding that the negative earnings contribution of the Steel Americas business area in the first quarter of the current fiscal year will be roughly €300 million higher than minus €71 million in the comparative prior-year quarter due to startup costs and depreciation.