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thyssenkrupp continues to grow

By Swati Deshpande,

Added 16 May 2018

Net income up from €58 million to €344 million

thyssenkrupp1

thyssenkrupp continued its earnings growth in the 2nd quarter of fiscal year 2017/2018. Despite adverse currency effects and higher material costs in the capital goods businesses, the Group increased its adjusted EBIT[1] significantly year-on-year by 21 percent to €500 million. Together with the likewise strong 1st quarter, adjusted EBIT after six months adds up to €944 million. thyssenkrupp thus recorded its best 1st half since the start of the Group’s transformation. Free cash flow also improved significantly year-on-year and in the 2nd quarter was positive at €168 million.

“Overall we are satisfied with the 1st half and therefore well on track to achieving our targets for the year,” says thyssenkrupp CEO Dr. Heinrich Hiesinger. “At the same time we are working systematically on our programs to further improve our performance,” Hiesinger adds.

The Group’s order intake in the 1st half was 5 percent down year-on-year. On a comparable basis, i.e. excluding currency and portfolio effects, it was down 2 percent. thyssenkrupp increased its sales from October to March by 1 percent, and on a comparable basis by 4 percent. In the 2nd quarter sales growth excluding currency and portfolio effects was 5 percent. Among the capital goods businesses, Components Technology performed positively in the 1st half among other things in car components and components for heavy trucks in Western Europe and China. At Elevator Technology, too, order intake excluding currency effects remained positive above all in North America. Orders in the largely project-based business of Industrial Solutions were down overall, the business having received major orders in the prior year and mainly numerous small and mid-size orders in the reporting period. At the materials businesses Materials Services profited from higher volumes as well as the recovery in prices, while Steel Europe benefited mainly from the recovery in prices.

(Continued on next page)

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