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Thyssenkrupp Q3 adjusted EBIT increased by 37 percent

Staff Writer |
The industrial and technology group Thyssenkrupp continues its good operating performance.

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After a strong 1st half, order intake, sales and adjusted EBIT again increased significantly in the 3rd quarter of the current fiscal year 2016/2017.

“In the first nine months we received new orders worth more than €32 billion. This is our best performance since the start of the Strategic Way Forward. Particularly pleasing is that all business areas contributed to it,” says Thyssenkrupp CEO Dr. Heinrich Hiesinger.

The Group’s order intake in the first 9 months increased year-on-year by 16 percent.

In the 3rd quarter the growth was 14 percent. Components Technology and Elevator Technology once again reported record figures in the first 9 months.

The third capital goods division, Industrial Solutions, achieved the turnaround: After a strong 1st half, the business area almost doubled its 3rd-quarter order intake year-on-year.

The materials businesses profited mainly from the recovery in prices. The Group’s sales increased year-on-year by 9 percent in the first 9 months and by 11 percent in the 3rd quarter.

The Group’s adjusted EBIT increased by 37 percent to €1,376 million in the first 9 months. The 3rd quarter improved by 41 percent to €620 million.

On the basis of the continuing operations, i.e. excluding Steel Americas, earnings improved by 11 percent to €1,222 million in the 9-month period and by 29 percent to €519 million in the 3rd quarter.

Earnings growth at Components Technology (9-month period: up 7 percent to €274 million) and Elevator Technology (9-month period: up 8 percent to €662 million) remained strong.

The materials businesses also recorded a noticeable earnings improvement. The reason for this was the recovery in prices. Materials Services almost trebled its adjusted EBIT in the first 9 months (up 273 percent to €245 million).

At Steel Europe, too, (9-month period: up 70 percent to €352 million) the positive price effects were reflected in a significantly improved margin.


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