Germany-based steelmaker ThyssenKrupp has announced its financial results for the first half ended March 31 of the fiscal year 2017-18. In the first half, ThyssenKrupp registered a net profit of €344 million compared to a net loss of €855 million in the corresponding period of the previous year. Meanwhile, ThyysenKrupp's adjusted EBIT from continuing operations increased by 25 percent year on year to €944 million.
During the given period, ThyssenKrupp's order intake amounted to €20.23 billion, falling by eight percent, while the company's sales revenue decreased by two percent to €20.56 billion, both year on year.
In the first half of the fiscal year 2017-18, Steel Europe's order intake increased by 0.75 percent to €4.55 billion, with sales revenues rising by 6.7 percent to €4.56 billion, both year on year. In the given period, Steel Europe's adjusted EBIT amounted to €358 million rising from an adjusted EBIT of €119 million recorded in the first half of the previous year.
For the full fiscal year 2017-18, the company expects its adjusted EBIT to increase to between €1.8 billion and €2 billion from an adjusted EBIT of €1.72 billion recorded in the previous financial year and it forecasts a significant increase in net profit compared to the previous year.