German steelmaker thyssenkrupp has performed well in fiscal year 2021/2022 in a challenging market environment and achieved or exceeded all of its most recent financial targets. Despite the war in Ukraine and the ongoing impact of the coronavirus pandemic and disruption of global supply chains, the businesses in the thyssenkrupp group of companies posted total order intake of EUR 44.3 billion, up 12% YoY. Sales improved by 21% YOY to EUR 41.1 billion. Thyssenkrupp almost tripled adjusted EBIT to EUR 2.1 billion from EUR 796 million in prior year. This positive development was driven, among other things, by measures introduced to increase the performance of the businesses and the at times significant price increases in the markets served by Materials Services and Steel Europe, which were reflected in higher sales and improved margins. Steel Europe was also affected by material and supply bottlenecks in many customer sectors and the related weaker customer call-offs, especially from the automotive industry. Compared with the prior year, there was a decrease in both order intake volume and shipments. However, higher prices led to a significant rise in order intake, which increased by 27% YoY to EUR 11.8 billion. Sales rose by 47% YoY to EUR 13.2 billion. Despite the sharp hike in raw material and energy costs, adjusted EBIT improved significantly to EUR 1.2 billion as compared to EUR 116 million in prior year thanks to a clear rise in average revenues, especially in the first half of the year. This also reflects positive effects from ongoing restructuring and performance measures in connection with the implementation of the Steel Strategy 20-30.
German steelmaker thyssenkrupp has performed well in fiscal year 2021/2022 in a challenging market environment and achieved or exceeded all of its most recent financial targets. Despite the war in Ukraine and the ongoing impact of the coronavirus pandemic and disruption of global supply chains, the businesses in the thyssenkrupp group of companies posted total order intake of EUR 44.3 billion, up 12% YoY. Sales improved by 21% YOY to EUR 41.1 billion. Thyssenkrupp almost tripled adjusted EBIT to EUR 2.1 billion from EUR 796 million in prior year. This positive development was driven, among other things, by measures introduced to increase the performance of the businesses and the at times significant price increases in the markets served by Materials Services and Steel Europe, which were reflected in higher sales and improved margins. Steel Europe was also affected by material and supply bottlenecks in many customer sectors and the related weaker customer call-offs, especially from the automotive industry. Compared with the prior year, there was a decrease in both order intake volume and shipments. However, higher prices led to a significant rise in order intake, which increased by 27% YoY to EUR 11.8 billion. Sales rose by 47% YoY to EUR 13.2 billion. Despite the sharp hike in raw material and energy costs, adjusted EBIT improved significantly to EUR 1.2 billion as compared to EUR 116 million in prior year thanks to a clear rise in average revenues, especially in the first half of the year. This also reflects positive effects from ongoing restructuring and performance measures in connection with the implementation of the Steel Strategy 20-30.
