Germany-based steelmaker ThyssenKrupp has announced its financial results for the first half ended March 31 of the fiscal year 2015-16. In the first half, ThyssenKrupp registered a net loss of €9 million compared to a net profit of €88 million in the corresponding period of the previous year. Meanwhile, ThyysenKrupp's adjusted EBIT from continuing operations decreased by 22.4 percent year on year to €560 million.
During the given period, ThyssenKrupp's order intake amounted to €18.83 billion, declining eight percent, while the company's sales revenue declined by eight percent to €19.4 billion, both year on year. The decline in orders and sales is due partly to lower volumes but mainly due to the sharp price falls in the materials businesses.
In the first financial half, Steel Europe's order intake in the given period decreased by 10 percent to €4 billion, with sales revenues declining by 14 percent to €3.64 billion, both compared to the corresponding quarter of the previous financial year. In the given period, Steel Europe's adjusted EBIT decreased by 40 percent year on year to €115 million.