Germany-based steelmaker ThyssenKrupp has announced its financial results for the first half ended March 31, 2012 of the financial year 2011-12.
In the first half, ThyssenKrupp's profit before tax and interest amounted to €43 million, down from €696 million in the first half of the previous year, while in the second quarter the company posted a profit before tax and interest of €76 million compared to a loss of €33 million in the previous quarter.
In the given period, the order intake of ThyssenKrupp increased two percent year on year to €21.7 billion, while sales decreased by one percent to €20.5 billion, compared to the corresponding period of the previous year.
Regarding the financial year 2011-12, ThyssenKrupp expects earnings from Steel Europe to stand at first half levels with volumes and prices influenced by continuing intense competition, while earnings at Materials Services are expected to be better in the second half. On the other hand, at Steel Americas, the increased stability of the operational ramp-up will bring improvements.