Noting that its profit for the third quarter has almost tripled due to the increase in steel prices, German Thyssenkrupp stated that rising commodity prices and interest rates may pose a danger.
The company's adjusted earnings before interest and taxes (EBIT) reached €721 million ($743 million) in the April-June period, compared to €266 million last year.
“In the third quarter, we were again impacted by increased prices for goods and other materials,” said CFO Klaus Keisberg. “However, we expect a significant reduction in net working capital and a clearly positive cash flow in the fourth quarter.” he added.
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