ThyssenKrupp AGs net loss surged in its fiscal first
quarter, attributing it largely to the sale of its 29.9-percent
shareholding in Outokumpu Oyj in December.
ThyssenKrupp reported a net loss of 69 million ($94
million) for the three months ended Dec. 31, more than four
times the 16-million loss in the same period a year
earlier, it said Feb. 14 in its
before interest, taxes, depreciation and amortization (Ebitda)
improved to 655 million ($893 million) from 444
million in the same comparison, mostly due to the performance
of the capital goods side of the business.
Net sales fell 12.5
percent year on year to 9.11 billion ($12.4 billion) due
to divestments, exchange rate factors, and lower prices in its
global materials trading and European steel units.
companys Steel Americas division reported Ebit of 1
million ($1.4 million) for the quarter vs. negative Ebit of
122 million a year earlier. Order intake rose 8.8 percent
year on year to 609 million ($830.6 million).
The materials services
business reported a 19.4-percent year-on-year increase in Ebit
to 43 million ($58.6 million) due to positive results in
North America and Eastern Europe.
Steel Europe showed a
31-percent drop in Ebit to 20 million ($27.3 million)
from 29 million in the year-earlier quarter, which was
"primarily the result of inadequate average selling prices,"
A version of this article was first published by AMM sister
publication Steel First.