Economy
Thursday, August 14, 2014
ThyssenKrupp fights his way out of the worst crisis in its history. The steel company now expects at least break-even result. Even a win is in the realm of possibility.
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The financial results for the third quarter have awakened at ThyssenKrupp additional optimism: Given improvements in most of its divisions lifted the steel and technology group its own forecast for the year ending September fiscal year slightly. The DAX company now expects to achieve for the first time in three years, the bottom line at least break even. In the third fiscal quarter as well as even the hitherto always lossy steel plant in Brazil generated an operating profit.
The bottom line, after taxes and third parties as well as taking into account all parts of the Group, ThyssenKrupp remained from April to June, an excess of 39 million euros. In the previous year, the Group had recorded a net loss of 395 million euros. For the first time in seven quarters, the company was, however, returned to profitability in the second quarter of its fiscal year between January and March was the bottom line is a surplus of 269 million euros
Against the backdrop of analysts from the period between. April and June, a somewhat larger than those now reported net income of ThyssenKrupp hopes that the industry experts had expected, on average, from a surplus of around 124 million euros. Although the analysts’ forecasts usually relate only to income from continuing operations, but has ThyssenKrupp currently only an insignificant part of its business as discontinued from.
improvements in America and Europe
In contrast to net income has exceeded expectations in the third quarter of ThyssenKrupp’s code of business operations: Adjusted for special items, earnings before interest and taxes (adjusted EBIT) of the Group as a whole increased from 139 million euros a year earlier to 398 million Euro. Analysts had only expected an improvement of 367 million euros.
foremost contributed to earnings growth in operating business, the development in ThyssenKrupp’s steel division at American. After an adjusted loss before interest and taxes in the same period last year of 193 million euros, the Group posted part consisting only of the steel plant in Brazil, in ended three-month period operating income of 16 million euros – and the first surplus since the failed America -Expansion of ThyssenKrupp’s steel division.
Significant improvement was achieved by the Group in the European steel mills. The plants increased the adjusted EBIT in the third quarter of 62 million euros in the same period last year to 103 million Euros, even though its sales declined partly because of the effects of a devastating storm in North Rhine-Westphalia. ThyssenKrupp led the profit improvement back about the patch in the steel business savings program.
Earnings growth also reported the elevator and the industrial goods sector. Both parts of the group also registered improvements in new orders. Overall, the ThyssenKrupp Group took in the third quarter against new orders of € 10.16 billion. This represents an increase of 8 percent. Sales also increased 8 percent to 10.74 billion euros.
Hiesinger is satisfied
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ThyssenKrupp increased because the targets for the full year still ongoing until the end of September. Adjusted EBIT now wants to double compared to the previous year’s figure of 586 million euros, the Group according to the information. Previously the company “almost” doubling had been promised. The bottom line Thyssen Krupp now expects a “break-even to slightly positive” result after the company had previously forecast an “improvement towards a balanced annual results.”
Given the quarterly figures ThyssenKrupp boss Heinrich Hiesinger expressed according to a Group Communication satisfied. “We are progressing well on our way to a new, integrated and performance-based ThyssenKrupp,” the company quoted its chief executive. “The direction simmt, our strategy is and our operational measures show significant impact,” said Hiesinger reportedly continued.
Source: n-tv.de
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