Germany-based steelmaker ThyssenKrupp has announced its financial results for the first quarter ended December 31 of the financial year 2017-18. For the first quarter, ThyssenKrupp registered a net profit of €91 million, compared to a net profit of €15 million in the first quarter of the previous financial year. Meanwhile, ThyssenKrupp's adjusted EBIT from continuing operations increased by 35 percent year on year to €444 million.
During the given period, ThyssenKrupp's order intake amounted to €9.74 billion, falling two percent, while the company's sales revenue declined by three percent to €9.81 billion, both year on year.
Thanks to the price recovery and initiated efficiency measures, in the given period the company's Steel Europe division clearly increased its adjusted EBIT to €160 million from €28 million recorded in the same period of the previous year.
For the current fiscal year 2017-18, ThyssenKrupp expects its adjusted EBIT to increase to a range from €1.8 billion to €2.0 billion.