Germany-based steelmaker ThyssenKrupp has continued the upward trend in its financial results in the third quarter (April-June) of the fiscal year 2010-2011. Accordingly, in the given quarter ThyssenKrupp increased its earnings before interest and taxes (EBIT) to €545 million, up nine percent compared to the same period of the previous year.
In the April-June period, the order intake of ThyssenKrupp increased 29 percent year on year to €14.12 billion, while sales amounted to €12.8 billion, rising by 10 percent compared to the same quarter of the previous financial year.
All businesses of ThyssenKrupp contributed to the positive outcome except for its Steel Americas division that recorded startup losses in Brazil and the US. These losses are expected to be offset by the recovery anticipated in sales markets.
For the financial year 2010-2011, ThyssenKrupp expects a 10-15 percent increase in sales. Earnings, on the other hand, are expected to grow faster than sales.