International Steel Mills
May 12, 2014
ThyssenKrupp Restructuring Stabilizing Company
Written by Sandy Williams
ThyssenKrupp posted a positive net income for the first time in seven quarters. After aggressively shedding businesses and employees during the fiscal year, including the sale of the Alabama Calvert plant, ThyssenKrupp appears to have achieved a turnaround.
The company hopes to break even for the 2013/2014 fiscal year and expects sales for the year will increase a mid to higher single-digit percentage rate year-on-year (a more optimistic forecast than previously). Earnings before interest and tax (EBIT) are expected to “almost double” year-on-year. ThyssenKrupp says it is confident it will meet its savings goal of €850 million for the year. Net income for the second quarter totaled €271 million ($372 million).
