Thyssenkrupp FY21 Net Loss From Cont. Opns. Narrows; Sees Higher FY22 Results

Germany's Thyssenkrupp (TYEKF.PK) reported Thursday that its fiscal 2021 net loss attributable to shareholders was 115 million euros, compared to net income of 9.59 billion euros a year ago. Loss per share were 0.18 euro, compared to profit of 15.40 euros last year. The prior year's results included a profit from the sale of the Elevator business.

On a continuing operations basis, net loss was 19 million euros, compared to loss of 5.5 billion euros last year. Loss per share were 0.17 euros, compared to prior year's loss of 8.91 euros.

Adjusted EBIT was 796 million euros, compared to negative 1.04 billion euros last year.

Net sales declined 4 percent to 34.02 billion euros from 35.44 billion euros last year. Sales from continuing operations climbed 18 percent.

Order intake totaled 39.57 billion, an increase of 13 percent, while the growth was 41 percent on a continuing operations basis.

Looking ahead for fiscal 2022, thyssenkrupp expects net income of at least 1 billion euros, which would be the highest since fiscal year 2007/2008.

Adjusted EBIT is anticipated to about double year-on-year to a figure between 1.5 billion euros and 1.8 billion euros. This figure includes a significant improvement in earnings at Steel Europe and a substantially lower loss at Multi Tracks.

Group sales are expected to grow by a mid-single-digit percentage in fiscal year 2021/2022.

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