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ThyssenKrupp swings back to profit, books €243M fiscal Q2 net income

ThyssenKrupp AG said May 15 that it bounced back in the black with an attributable net income of €243 million in the second quarter of fiscal year 2017-18, compared to a year-ago loss of €879 million.

The improved income for the period comes despite a 12% year-on-year decline in order intake to €10.50 billion and a 2% fall in net sales to €10.75 billion. Furthermore, the year-ago loss was attributed to the €900 million write-down relating to the sale of ThyssenKrupp's Brazilian unit CSA Siderurgica do Atlantico Ltda.

Second-quarter EBIT stood at €433 million from a negative €564 million in the prior-year period, while EPS improved to 39 cents from a loss of €1.55.

Order intake for the group's Steel Europe business totaled €2.48 billion and net sales for the segment remained relatively flat at about €2.40 billion.