Germany-based steelmaker ThyssenKrupp has announced its financial results for the first half ended March 31 of the fiscal year 2014-15, achieving its operation target for the second quarter and the first half. In the first half, ThyssenKrupp registered a net profit of €88 million, decreasing by 56 percent compared to the corresponding period of the previous year. Meanwhile, ThyysenKrupp's adjusted EBIT from continuing operations increased by 31 percent year on year to €722 million.
During the given period, ThyssenKrupp's order intake amounted to €20.5 billion, declining two percent amid sharply falling steel prices, while the company's sales revenue increased by nine percent to €21 billion, both year on year.
In the first financial half, the company's Steel Europe division reported a decrease in orders and sales mainly due to lower prices. Persistent price pressure continued to weigh on business, whereas volumes returned to normal after the turn of the year following the temporary bottlenecks in the first quarter. Steel Europe's order intake in the first half decreased by five percent to €4.5 billion, with sales revenues declining by four percent to €4.2 billion, both compared to the corresponding period of the previous financial year.