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ThyssenKrupp raises full year forecast for sales, EBIT

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Staff writer ▼ | May 13, 2014
ThyssenKruppAfter a successful 1st half 2013/2014 ThyssenKrupp is raising its forecast for the full year . The industrial group now expects to achieve sales growth in the mid to higher single-digit percent region on a comparable basis.

Adjusted EBIT is forecast to almost double year-on-year (prior year €586 million, previous guidance around €1 billion). The company continues to expect a significant improvement towards break-even earnings.

ThyssenKrupp met all its operating and strategic targets in the 1st half. Order intake, sales and adjusted EBIT increased year-on-year both on a cumulative basis in the 1st half and in the 2nd quarter. The Group recorded a net profit after minority interest of around €269 million. Earnings per share came to €0.37 in the 1st half and €0.48 in the 2nd quarter (prior year €(0.26) and €(0.25) per share respectively).

Order intake from continuing operations came to €20.9 billion in the 1st half, up 4 percent from the prior year despite negative exchange rate effects. On a comparable basis, i.e. excluding currency and portfolio effects, order intake increased by 6 percent. 2nd quarter order intake was €10.2 billion, slightly higher year-on-year (up 2 percent on a comparable basis).

Sales from continuing operations came to €19.4 billion in the 1st half and €10.3 billion in the 2nd quarter, and were higher year-on-year in all business areas except Steel Europe, where sales decreased due to disposals. On a comparable basis sales climbed year-on-year by 7 percent in the 1st half and 9 percent in the 2nd quarter.

Adjusted EBIT from continuing operations increased significantly year-on-year to €555 million in the 1st half and €309 million in the 2nd quarter. At €848 million (prior year €738 million) the capital goods operations achieved much higher operating earnings in the 1st half than the materials operations, which however even including Steel Americas generated a clear positive contribution of €128 million (prior year €(29) million).

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