ThyssenKrupp Reports Profit in Q1 Due to Strong Sales and Lower Costs, but Financial Concerns Remain
ThyssenKrupp generated net profit of EUR 15 million for first-quarter 2016, a substantial improvement on the reported loss of EUR 54 million in the prior year. Consolidated revenue was up 6% year over year, benefiting from strong organic growth in the capital goods businesses, including Components Technology and Elevator Technology, and all Materials business areas.Positive material spot price development, good selling and marketing cost control, and a decrease of EUR 51 million in financing ex...
ThyssenKrupp is the parent company of the ThyssenKrupp Group. Co. has six business areas: Components Technology, which provides components for the automotive and machinery sectors; Elevator Technology, which supplies passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts; Industrial Solutions, which comprises the System Engineering and Marine Systems units; Materials Services, which focuses on materials distribution and technical services; Steel Europe, which develops, produces and markets flat carbon steel in the European market; and Steel Americas, which produces, processes and markets steel products in North and South America.
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