Germany-based steelmaker ThyssenKrupp has announced its financial results for the first nine months ended June 30 of the fiscal year 2016-17.
In the given period, ThyssenKrupp registered a net loss of €721 million, compared to a net profit of €115 million recorded in the corresponding period of the previous year. Meanwhile, ThyysenKrupp's adjusted EBIT increased by 37 percent year on year to €1.37 billion.
During the given period, ThyssenKrupp's order intake amounted to €32.67 billion, rising by 16 percent, while the company's sales revenue went up by nine percent to €32.01 billion, both year on year.
For the full year, the company expects to achieve adjusted EBIT of at least €1.8 billion. Due to the negative earnings effect from the sale of its Brazilian steel plant CSA Siderúrgica do Atlântico (CSA) to Latin American steel producer Ternium, overall net income is expected to be clearly negative. Excluding this one-time effect, net income is expected to be significantly higher year on year.