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Steel price recovery boosts Thyssenkrupp third-quarter results

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - Thyssenkrupp on Thursday posted better-than-expected third-quarter orders and profits, helped by a recovery in steel prices that boosted its Steel Europe unit which the German group is trying to merge with Tata Steel's European unit."We are pleased by the recovery in earnings at the materials businesses. We have achieved the minimum level necessary to cover the cost of capital," Chief Executive Heinrich Hiesinger said in a statement.The company posted a 14 percent rise in third-quarter order intake to 10.7 billion euros ($12.6 billion) and adjusted earnings before ...

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First Published: Thu, August 10 2017. 10:49 IST
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