5/15/2018, 7:44 AM (Source: TeleTrader)
more TeleTrader news

Thyssenkrupp turns to profit in Q2, net income at €243M

German multinational industrial engineering and steel production conglomerate Thyssenkrupp announced on Tuesday it turned to profit in the second quarter of the fiscal year 2017/2018, with its net income arriving at €243 million, or €0.39 per share. Meanwhile, the company's net sales amounted €10.75 billion for the same three month period, marking a 2% fall year-on-year, while orders dropped 12% to reach €10.50 billion.

At the same time, adjusted earnings before interest, taxes, depreciation, and amortization climbed 17% to €500 million. Also, the company reported that the final board decision on the planned steel joint venture with Tata steel is expected to be made in the first half of 2018.

"Overall we are satisfied with the 1st half and therefore well on track to achieving our targets for the year," says Thyssenkrupp CEO Heinrich Hiesinger. "At the same time we are working systematically on our programs to further improve our performance," he added.

Breaking the News / FH