Germany-based steelmaker Thyssenkrupp has announced its financial results for the financial year 2023-24 ending September 30.
In the given financial year, the company posted a net loss of €1.4 billion, including impairments at its steel division totaling €1 billion, compared to a net loss of €2 billion recorded in the previous fiscal year, while its sales revenue amounted to €35 billion, decreasing by seven percent year on year. In addition, Thyssenkrupp’s EBITDA dropped by 47.0 from €1.68 billion recorded in the previous financial year to €895 million.
In the financial year 2023-24, order intake at the company’s steel division came to €10.03 billion, compared to €12.2 billion recorded in the financial year 2022-23, while its sales moved down by 13.0 percent year on year to €10.7 billion. Also, adjusted EBIT of the steel division was reported at €261 million, compared to €320 million.
Thyssenkrupp stated that the ongoing macroeconomic challenges are shaping the outlook for the current fiscal year. Therefore, it expects a net income in the range of €100-500 million and its sales revenue to increase by 0-3 percent in the current financial year.