Germany-based steelmaker ThyssenKrupp has announced its financial results for the first quarter ended December 31 of the financial year 2015-16. For the first quarter, ThyssenKrupp registered a net loss of €54 million, compared to a net profit of €43 million in the first quarter of the previous financial year. Meanwhile, ThyssenKrupp's adjusted EBIT from continuing operations decreased by 26 percent year on year to €234 million.
During the given period, ThyssenKrupp's order intake amounted to €9.8 billion, falling three percent, while the company's sales revenue decreased by five percent to €9.5 billion, both year on year.
In the first financial quarter, the company's Steel Europe division reported a decrease in order intake and sales mainly due to increasing import pressure in Europe. Steel Europe's order intake in the given period decreased by 12 percent to €1.84 billion, with sales revenues declining by 13 percent to €1.7 billion, both compared to the corresponding quarter of the previous financial year. In the given quarter, Steel Europe's order volumes decreased by four percent to 2.6 million mt and its shipments declined by eight percent to 2.4 million mt, both year on year.