German industrial conglomerate Thyssenkrupp has announced its financial results for the second quarter of 2024. Despite the challenges posed by the global economic landscape, the company managed to reduce its net loss significantly. Key factors contributing to this improvement include cost optimization measures, strategic divestments, and increased operational efficiency.
Thyssenkrupp’s leadership expressed cautious optimism about the remainder of the year, emphasizing their commitment to sustainable growth and innovation. Thyssenkrupp’s net loss, after deducting non-controlling interest, narrowed to €78 million from last year’s €223 million. Loss per share improved to €0.13 compared to €0.36 in the previous year.
The adjusted EBIT for the quarter was €184 million, down from €205 million last year due to positive one-time effects in the prior year.
In Q2, the Group’s sales declined to €9.1 billion (from €10.1 billion last year), and order intake decreased to €8.6 billion (from €10.2 billion). These results were primarily influenced by price- and demand-induced declines in Materials Services and Steel Europe.
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