Thyssenkrupp sales and orders recovered in the fourth quarter from a year earlier, mainly due to rising steel prices, although huge challenges remain.
Sales rose to 9.44 billion euros in the quarter to the end of September, from 7.95 billion euros in the same period last year, the German group announced.
Adjusted earnings before taxes and interest amounted to 232 million Euros compared to the negative EBIT of 530 million Euros a year ago.
Sales and adjusted EBITs exceeded estimates by 8.92 billion euros and 178 million euros respectively, according to analysts’ estimates.
Net profit fell to € 116 million from € 11.58 billion a year ago, although the 2020 figure included profits from the sale of Thyssenkrupp’s elevator business.
Profit from continuing operations improved to € 105 million, compared with a loss of € 3.59 billion a year ago.
For the year 2022, it forecasts doubling of EBIT to 1.5-1.8 billion Euros, together with net profits of almost 1 billion Euros, compared to the losses of 115 million Euros in the year 2021.
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
