Germany-based steelmaker ThyssenKrupp has announced its financial results for the third quarter and the first nine months ended June 30 of the financial year 2011-12.
In the third quarter, ThyssenKrupp's net profit amounted to €238 million, increasing by 16 percent year on year, while in the first nine months the company posted a net loss of €220 million compared to a net profit of €576 million in the same period of the previous year.
The order intake of ThyssenKrupp in April-June decreased by 21 percent year on year to €10.2 billion, while sales decreased by seven percent to €10.7 billion, compared to the corresponding quarter of the previous year. In the first nine months, the order intake of ThyssenKrupp amounted to €31.9 billion, down seven percent, while the company's sales fell three percent to €31.2 billion, both year on year.
According to ThyssenKrupp's statement, in the first nine months of the financial year business at Steel Europe was impacted by a drop in shipments due to lower demand, while Steel Americas added more new customers and increased sales significantly to €1.6 billion. Over 2 million mt of flat steel were sold in the North American market.
For the financial year 2011-12, ThyssenKrupp expects to achieve adjusted EBIT in the mid three-digit million euro range.