German steel giant Thyssenkrupp posted another good performance in the 3rd quarter of fiscal 2021/2022. Despite the persistent challenges caused by the war in the Ukraine, the Covid pandemic and the disruption of global supply chains, the Group raised order intake by 13% YoY to EUR 10.0 billion in the period April through June. Sales improved by 26% YoY to EUR 11.0 billion & Thyssenkrupp almost tripled adjusted EBIT to EUR 721 million. Thyssenkrupp CFO Mr Klaus Keysberg said “In the third quarter, we once again demonstrated our improved efficiency. We will not be reducing our efforts. Given the ongoing challenges and risks in our environment, stepping up our performance is particularly important. At the same time, we are keeping a close eye on the continuing development of our businesses. Current examples include the expansion of production capacity in Marine Systems and the dynamic growth of our hydrogen business.”Alongside the improvement in performance and efficiency resulting from implementation of the strategy, the main drivers of this development were higher revenues and improved margins at Materials Services and Steel Europe. By contrast, the ongoing supply chain problems and higher factor costs again had a marked adverse impact, especially in Automotive Technology and Industrial Components. In view of the good business development in the first 9 months, thyssenkrupp has confirmed its full-year forecast for adjusted EBIT and the free cash flow before M&A.In the 3rd quarter, the Steel Europe business was again negatively impacted by supply shortages and the associated weaker demand, especially from the automotive industry and suppliers. Compared with the prior year, there was a decrease in both order intake volume and shipments. However, high prices led to a significant rise in order intake, which increased by 25% to EUR 3.1 billion. Sales rose by 47% to UR 3.6 billion. Despite the sharp hike in raw material and energy costs, adjusted EBIT improved significantly to EUR 376 million from EUR 19 million in prior year quarter due to a clear rise in average revenues This also reflects positive effects from ongoing restructuring and performance measures in connection with implementing the Steel Strategy 20-30.
German steel giant Thyssenkrupp posted another good performance in the 3rd quarter of fiscal 2021/2022. Despite the persistent challenges caused by the war in the Ukraine, the Covid pandemic and the disruption of global supply chains, the Group raised order intake by 13% YoY to EUR 10.0 billion in the period April through June. Sales improved by 26% YoY to EUR 11.0 billion & Thyssenkrupp almost tripled adjusted EBIT to EUR 721 million. Thyssenkrupp CFO Mr Klaus Keysberg said “In the third quarter, we once again demonstrated our improved efficiency. We will not be reducing our efforts. Given the ongoing challenges and risks in our environment, stepping up our performance is particularly important. At the same time, we are keeping a close eye on the continuing development of our businesses. Current examples include the expansion of production capacity in Marine Systems and the dynamic growth of our hydrogen business.”Alongside the improvement in performance and efficiency resulting from implementation of the strategy, the main drivers of this development were higher revenues and improved margins at Materials Services and Steel Europe. By contrast, the ongoing supply chain problems and higher factor costs again had a marked adverse impact, especially in Automotive Technology and Industrial Components. In view of the good business development in the first 9 months, thyssenkrupp has confirmed its full-year forecast for adjusted EBIT and the free cash flow before M&A.In the 3rd quarter, the Steel Europe business was again negatively impacted by supply shortages and the associated weaker demand, especially from the automotive industry and suppliers. Compared with the prior year, there was a decrease in both order intake volume and shipments. However, high prices led to a significant rise in order intake, which increased by 25% to EUR 3.1 billion. Sales rose by 47% to UR 3.6 billion. Despite the sharp hike in raw material and energy costs, adjusted EBIT improved significantly to EUR 376 million from EUR 19 million in prior year quarter due to a clear rise in average revenues This also reflects positive effects from ongoing restructuring and performance measures in connection with implementing the Steel Strategy 20-30.
