Miguel López, CEO of Germany-based steelmaker Thyssenkrupp, has stated in the company’s financial report for the third quarter ending June 30 of the financial year 2024-25 that the given quarter was characterized by enormous macroeconomic uncertainty. The company’s performance was affected by the weak market environment in key customer industries such as automotive, engineering and construction.
In the given quarter, the company posted a net loss of €255 million, compared to a net loss of €33 million in the third quarter of the previous fiscal year, mainly due to a one-time tax effect of around €135 million in connection with preparing the planned spin-off of its Marine Systems division, while its sales revenue amounted to €8.15 billion, declining by nine percent year on year, mainly due to declining prices and demand. In addition, Thyssenkrupp’s EBITDA in the third quarter amounted to €219 million, down by 15.0 percent year on year.
In the third quarter, the order intake of the company’s steel division came to €2.10 billion, compared to €2.73 billion in the same quarter of the previous fiscal year, while its sales dropped by 13.0 percent year on year to €2.45 billion, due to declining prices and demand.
For the full financial year 2024-25, Thyssenkrupp expects its net profit to be between €100 million and €500 million, and its adjusted EBIT to be between €600 million and €1 billion.