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MarketScreener Homepage  >  Equities  >  Xetra  >  ThyssenKrupp    TKA   DE0007500001

THYSSENKRUPP (TKA)
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Thyssenkrupp : 1Q Profit Soared on Higher Sales, Rising Steel Prices

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02/14/2018 | 07:25am CEST
   By Nathan Allen 
 

Thyssenkrupp AG's (TKA.XE) net profit for the first quarter of its fiscal year increased almost ten-fold due to higher sales, stronger steel prices and high one-off costs in the year-earlier period, the company said Wednesday.

Net income for October-December was 78 million euros ($95.7 million), up from EUR8 million a year earlier. The quarterly profit figure includes an EUR87 million hit from the recent U.S. tax reforms, the company said.

Net sales fell 3% on year to EUR9.82 billion, Thyssenkrupp said.

The company's closely watched adjusted earnings before interest and taxes, or EBIT, climbed to EUR444 million from EUR291 million, thanks largely to higher earnings at its steel business, which benefited from a continued price recovery, Thyssenkrupp said.

In the capital goods business, both the elevator technology unit and the components technology unit reported slightly higher earnings. However, adjusted EBIT at the industrial solutions unit fell to EUR12 million from EUR42 million.

Thyssenkrupp attributed the fall to an unfavorable comparison effect, as it booked a large order in the first quarter of the previous year.

The company confirmed its fiscal-year guidance of clearly positive net income and adjusted EBIT of between EUR1.8 billion and EUR2 billion.

Write to Nathan Allen at nathan.allen@dowjones.com

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Financials (€)
Sales 2018 41 677 M
EBIT 2018 1 621 M
Net income 2018 765 M
Debt 2018 4 871 M
Yield 2018 1,10%
P/E ratio 2018 17,44
P/E ratio 2019 12,20
EV / Sales 2018 0,42x
EV / Sales 2019 0,43x
Capitalization 12 637 M
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 28,0 €
Spread / Average Target 38%
EPS Revisions
Managers
NameTitle
Guido Kerkhoff Chief Executive & Financial Officer
Martin Holz Chief Information Officer
Bernhard Pellens Independent Member-Supervisory Board
Wilhelm Segerath Member-Supervisory Board
Susanne Herberger Member-Supervisory Board
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