Germany-based steelmaker ThyssenKrupp has announced its financial results for the first quarter ended December 31 of the financial year 2016-17. For the first quarter, ThyssenKrupp registered a net profit of €15 million, compared to a net loss of €54 million in the first quarter of the previous financial year. Meanwhile, ThyssenKrupp's adjusted EBIT from continuing operations increased by 40 percent year on year to €329 million.
During the given period, ThyssenKrupp's order intake amounted to €9.95 billion, rising one percent, while the company's sales revenue increased by six percent to €10.08 billion, both year on year.
In the first financial quarter, the company's Steel Europe division’s order intake increased by 12.5 percent to €2.07 billion, with sales revenues rising by 11 percent to €1.9 billion, both compared to the corresponding quarter of the previous financial year.
For the current fiscal year 2016-17, ThyssenKrupp expects its adjusted EBIT to increase to around €1.7 billion. The company predicts a clear year-on-year improvement in net income.