Thyssenkrupp posts record orders on elevators, components

Heinrich Hiesinger, CEO of German steel group Thyssenkrupp, poses ahead of a press conference on Thyssenkrupp's annual earnings on November 24, 2016 at the company's headquarters in Essen, western Germany.

PATRIK STOLLARZ | AFP | Getty Images

Heinrich Hiesinger, CEO of German steel group Thyssenkrupp, poses ahead of a press conference on Thyssenkrupp’s annual earnings on November 24, 2016 at the company’s headquarters in Essen, western Germany.

Order intake rose 18 percent to 44.29 billion euros ($52.34 billion) inside the financial year to Sept. 30 while adjusted earnings before interest in addition to also tax (EBIT) reached 1.91 billion euros, beating the 1.73 billion expected by analysts in a Reuters poll.

“The increased operating figures show that will our performance programs are working,” Hiesinger said, adding the group would certainly continue to expand its capital goods business in addition to also increase efficiency across all business units.

Shares in Thyssenkrupp were indicated up 1 percent, putting them at the top of Frankfurt’s blue-chip DAX index.

As well as its steelmaking merger with Tata, which will create Europe’s No.2 steelmaker after ArcelorMittal, Thyssenkrupp This particular year agreed to sell money-losing Brazilian steel mill CSA Cia Siderúrgica do Atlántico SA.

Ending a foray into the Americas that will led to years of massive losses, the sale of the mill to Ternium SA resulted in charges that will sent Thyssenkrupp to an annual net loss of 649 million euros.

Thyssenkrupp recommended an unchanged dividend of 0.15 euros per share. the idea expects adjusted EBIT This particular year of 1.8-2.0 billion euros while analysts on average expect 2.03
billion euros.

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