Thyssen Krupp reports highest order intake for two years / Adjusted EBIT unchanged from prior year despite higher startup losses for steel plants in Brazil and USA / Ambitious full-year forecast confirmed: Significant increase in adjusted EBIT to around €2 billion expected in 2010/2011
ThyssenKrupp continued its positive performance in the first quarter of fiscal 2010/2011: Order intake showed a significant 21% year-on-year increase from €9,328 million to €11,260 million. Sales also rose distinctly by 22% from €9,351 million to €11,370 million. Thanks to sustainable cost savings the structural earning power of the Group improved considerably: Earnings before interest and taxes (EBIT) reached €273 million in the first three months of the new fiscal year, compared with €353 million in the prior year. However it should be borne in mind that earnings in the 1st quarter of the current year were impacted much more strongly by the negative contribution of the Steel Americas business area of €(378) million (prior year: €(71) million) caused by the startup losses of the new steel plants. In addition, the prior-year figure was favorably impacted by special items of €76 million. Adjusted EBIT was unchanged from the prior year (€277 million) at €273 million, despite the significantly higher negative impact from the Steel Americas business area. All business areas apart from Steel Americas made a positive earnings contribution.