Germany-based steelmaker ThyssenKrupp has announced its financial results for the first half ended March 31 of the financial year 2018-19. For the first half, ThyssenKrupp registered a net profit of €59 million, compared to a net profit of €343 million in the first half of the previous financial year. Meanwhile, ThyssenKrupp's adjusted EBIT from continuing operations decreased by 48 percent year on year to €442 million.
During the given period, ThyssenKrupp's order intake amounted to €20.5 billion, rising four percent, while the company's sales revenue increased by two percent to €20.4 billion, both year on year.
At Steel Europe division shipment volumes declined sharply from 5.6 million mt to 5.1 million mt in the given period, as a result of production cutbacks due to low Rhine water levels, while higher steel prices compared to the corresponding period of the previous year partly offset the volume decrease.
According to ThyssenKrupp, EU carbon flat steel market cyclically remained weaker in the first three months of 2019, with third-country imports higher at the expense of European suppliers. The company said that EU safeguard measures have failed to limit overall imports so far.