ThyssenKrupp Reports Finances as Improving

ThyssenKrupp AG exceeded its target of positive EBIT for the 2012-2013 fiscal year, ending September 30, by 100 million euros. EBIT for the fiscal year was 599 million euros ($815 million) said management at the annual press conference.

Operating losses and impairment charges for Steel Americas (re-included in the fiscal year as a continuing operation), expenses associated with Outokumpu, fines from compliance violations, and restructuring costs came to 1,194 million euros ($1.62 billion), resulting in a net loss of 1.5 billion euros ($2 billion) for the fiscal year after taxes and interest. This was, however, a 70 percent improvement over the net loss of 5 billion euros ($6.8 billion) in the prior fiscal year.