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ThyssenKrupp's net loss drops in Q2

12 May 2021 14:53 reported by Joy Liu

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Thyssenkrupp, a leading steelmaker in Germany, reported that its net loss was EUR 211 million in the second quarter ended March 31 of the fiscal year 2020-21, compared with a net loss of EUR 948 million in the same period a year ago. The sales reached EUR 8.6 billion, hiking by 4.9% year on year; the adjusted EBIT had a year-on-year increase to EUR 220 million.

Due to the recovery in the automotive industry and the strong demand from steel processors, Thyssenkrupp’s business continued to grow.

Thyssenkrupp has raised its forecast of sales and revenue for the fiscal year 2020-21 and foresaw a continuous recovery in the economy.

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