German steelmaker thyssenkrupp expects the uptrend in operations and sales from H1 FY2021 (ended March 21, 2021) to continue into the second half of the fiscal.
The company expects its sales to grow to pre-pandemic levels and has projected its EBIT to be in the €3mn ($3.64mn) range.
The steel producer’s total order intake grew by 14pc in Q2 FY2021 to €8.6bn ($10.4bn) compared to the same quarter in FY2020 while its sales increased by 4pc to €8.6bn in the same timeframe.
At thyssenkrupp’s Material Services division its order intake was up by 9pc while sales dropped by 3pc in the second quarter of FY2021 on an annual basis because of material shortage caused by the increase in finished steel and stainless steel prices. Order intake at its Industrial Components business increased by 11pc and sales rose by 9pc in Q2 FY2021 compared to the same quarter in FY2020.
Its order intake in the Automotive Technology division grew by 9pc and sales increased by 6pc in the second quarter compared to the same period last year after Steel Europe’s order intake and sales grew by 13pc and 8pc, respectively, due to the recovery in the automobile sector in the first three months of 2021.
thyssenkrupp’s Marine System division’s order intake reached €405mn in Q2 FY2021 compared to €133mn and its sales reached €689mn from €424mn in same period in FY2020.
The company’s total adjusted EBIT stood at €220mn in Q2 FY2021 compared to €279mn in Q2 FY2020.