8,026.27 TL BIST 100 BIST 100
28.93 $ USD USD
€31.46 EUR EUR
613.00 TL Interest Interest
78.38 $ Fossil Oil Fossil Oil
25.47 $ Silver Silver
3.88 $ Copper Copper
130.49 $ Iron Ore Iron Ore
375.00 $ Ship Dismantling Ship Dismantling
1,939.91 TL Gold (gr) Gold (gr)

Thyssenkrupp's steel businesses increase sales volume

Thyssenkrupp Steel Europe reported an increase in deliveries in its third fiscal quarter to June, but a decrease in revenue and profit due to lower selling prices.

Thyssenkrupp's steel businesses increase sales volume

Thyssenkrupp AG's steelmaking division increased order intake by 4% y-o-y to 3.2 billion euros ($3.5 billion), mainly due to "significantly higher order volumes" from the automotive industry.

Despite the increase in shipment volumes, revenue was 9% below the previous quarter at €3.3 billion. Lower spot market prices weighed, but the company's large share of long-term contracts had an offsetting effect. Shipments reached 2.6 million tons, driven by higher orders from the automotive industry and increased deliveries to trade and steel service centers.

Due to lower earnings compared to the previous year's quarter, adjusted EBIT amounted to EUR 190 million, down from EUR 376 million a year earlier. An internal restructuring as well as lower raw material and energy costs had a mitigating effect.

Meanwhile, Material Services, the steel and metal distribution division of thyssenkrupp AG, reduced its order intake to €3.3 billion from €4.1 billion a year earlier due to "as expected" lower prices.


No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Vulcan Green Steel: Oman's hydrogen-powered steel plant underway

Monday, December 4, 2023

The rate of rent increase for workplaces is determined

Monday, December 4, 2023

30 billion dollars of trade between Turkiye and Saudi Arabia!

Monday, December 4, 2023

Arvedi Group prepares to outsource its operations in Türkiye to a local company

Monday, December 4, 2023

A ferroalloy production plant will be built in Kazakhstan in 2025

Monday, December 4, 2023
Follow List
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.

There are no news categories you follow
Edit Notification Preferences

Global Iron and Steel Exchanges

Iron and Steel Indices, Price and News

E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now