Thyssenkrupp turns to profit in Q3

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Thyssenkrupp
Thyssenkrupp

Thyssenkrupp (TYEKF.PK) reported that its third-quarter net income was 125 million euros (146.4 million dollars) compared to a loss of 678 million euros in the previous year.

Earnings per share were 0.20 euros, compared to a loss per share of 1.09 euros in the prior year. The prior year result was severely impacted by the coronavirus pandemic.

Order intake was 8.8 billion euros, up from 4.8 billion euros in the prior year. Quarterly sales increased by 51 per cent to 8.7 billion euros from the previous year.

For the full year 2020-21 Thyssenkrupp has confirmed the earnings forecast raised recently.

Sales are expected to grow in the low two-digit percentage range but will remain below the pre-pandemic level.

Thyssenkrupp expects adjusted EBIT to increase significantly toward a positive result in the mid three-digit million euro range.

Despite the clear improvements, Thyssenkrupp expects a net loss of up to a mid three-digit million euro amount. This includes restructuring expenses in the mid three-digit million euro range.

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