A summary of the financial results for German industrial group Thyssenkrupp for April 1 to June 30, 2021, the third quarter of its 2020/21 business year.
In brief
Thyssenkrupp continued to improve its results for the third consecutive quarter on account of restructuring and performance measures amid a significant increase in steel demand and with almost all businesses contributing to the group's earnings.The Industrial Components business, together with the Materials Services, Automotive Technology and Steel Europe businesses, showed negative earnings before interest, taxes, depreciation and amortization (Ebitda) in the April-June quarter of 2020, but significantly improved their results this year.Thyssenkrupp announced the sales of its
mining technologies business to Danish company FLSmidth and its
infrastructure business unit to FMC Beteiligungs earlier this summer.Around 700 restructuring and cost-reduction measures have significantly reduced the group's losses. But expected losses were estimated to be large on account of restructuring costs. "Despite the clear improvements, Thyssenkrupp expects a net loss... This includes restructuring expenses," the company said in on August 11.
Material Services
The...