Steel Mills
February 16, 2014
ThyssenKrupp Edging Toward Stability
Written by Sandy Williams
ThyssenKrupp AG finances are beginning to improve. Earnings before interest and tax (EBIT) more than doubled to €247 million ($338 million) in the first quarter FY 2013-2014 (ending Dec. 31, 2013).
Net debt dropped to €4.6 billion ($6.3 billion) from €5 billion ($6.8 billion) the previous quarter. ThyssenKrupp’s gearing ratio (net debt to equity) was 136.2 percent at the end of December, a drop of 64 percentage points from the end of the previous quarter primarily due to the capital increase in early December.
