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Thyssenkrupp Q1 Adj. EBIT Rises; Sales Up 23% - Quick Facts

Thyssenkrupp (TYEKF.PK) said its first-quarter order intake, sales and adjusted EBIT rose significantly year-on-year. Adjusted EBIT increased to 378 million euros from 78 million euros, last year. The company said the drivers were the positive effects of performance measures and increasing revenues, especially at Materials Services, Steel Europe and Multi Tracks. For fiscal 2021/2022, the company confirmed its forecast.

After deducting minority interest, net income was 106 million euros compared to a loss of 145 million euros. Earnings per share was 0.17 euros compared to a loss of 0.23 euros.

Sales rose by 23 percent to 9 billion euros from 7.3 billion euros, previous year. Order intake was 10.4 billion euros, an increase of 33 percent.

"We've made important progress in improving our performance and narrowing the focus of our portfolio. Our next major milestone is to reach break-even in cash flow", said Klaus Keysberg, CFO of thyssenkrupp AG.

For fiscal 2021/2022, Thyssenkrupp continues to project adjusted EBIT to improve significantly year-on-year to between 1.5 and 1.8 billion euros. The group expects net income of at least 1 billion euros.

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