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ThyssenKrupp Continues Upward Trend in First Quarter of 2010/2011
01/24/2011 - ThyssenKrupp AG is anticipating year-on-year growth in order intake and sales, with provisional figures indicating that each will exceed €11 billion for the first quarter of the 2010/2011 fiscal year.
ThyssenKrupp AG reports that it is returning to its long-term growth track, as the Group expects year-on-year growth in order intake and sales for the first quarter of the 2010/2011 fiscal year. Provisional figures indicate that each will exceed €11 billion.
Despite higher startup losses for the new steel plants in the USA and Brazil, adjusted earnings before interest and taxes (adjusted EBIT) are expected to come in level with the prior year, which were €277 million for Q1 2009/2010.
The company said that with the exception of Steel Americas, all business areas made a positive contribution to this performance. The negative earnings contribution of the Steel Americas business area in the first quarter of the current fiscal year will be roughly €300 million higher than in the year-ago first quarter (€(71) million in Q1 2009/2010) due to startup costs and depreciation.
The Group’s earnings show that the structural earning power of the Group has improved considerably. “This shows that we are on track to meet our ambitious targets for the full year,” said Dr. Ekkehard Schulz, Executive Board Chairman of ThyssenKrupp AG.
After 12 years at the helm of the Group, Schulz will address the General Stockholders’ Meeting in Bochum today for the last time as Chairman of the Executive Board before handing over to his successor – former Siemens director Dr. Heinrich Hiesinger.
ThyssenKrupp is an integrated materials and technology group with currently almost 177,000 employees in more than 80 countries developing ideas and innovations to offer solutions for sustainable progress. In the 2009/2010 fiscal year they generated sales of more than €42 billion. Eight business areas focus the Group’s activities and know-how in the strategic competency areas of Materials and Technologies. In addition to manufacturing materials and plants, the Group also provides complete system solutions and innovative services.
