By Christopher Alessi
ESSEN, Germany--German steelmaker ThyssenKrupp AG said it has
resumed its dividend payment and reported its first annual net
profit in four years, driven by strong growth in the group's
capital goods businesses.
Net profit for the fiscal year ended September 30 was 210
million euros ($262.4 million), compared with a loss of EUR1.44
billion the previous year.
The group reported a net profit from continuing operations of
EUR24 million, missing analysts' expectations. Analysts had
predicted a profit of EUR65 million, according to a recent poll
compiled by The Wall Street Journal.
Sales in the latest reporting period rose 4% to EUR41.3 billion
from EUR38.78 billion a year earlier, boosted by strong sales in
its elevator-technology and industrial-solutions divisions.
Adjusted earnings before interest and taxes jumped to EUR1.33
billion from EUR517 million year-over-year, helped by increased
earnings in the group's capital-goods businesses.
The company proposed its first shareholder dividend in three
years at EUR0.11 per-share. "We are aware that this proposal is no
more than a signal to our shareholders," ThyssenKrupp Chief
Executive Heinrich Hiesinger said.
Mr. Hiesinger, who took the helm in 2011, has implemented a
comprehensive restructuring over the past few years that includes
thousands of job cuts and reduced investment to increase the
group's cash flow. He has sought to refocus the company away from
its traditional steel business and more on capital goods like
elevators, car components and industrial machinery.
ThyssenKrupp said it expects adjusted EBIT for the 2014-2015
fiscal year to rise to at least EUR1.5 billion, slightly ahead of
analysts' forecasts.
Write to Christopher Alessi at christopher.alessi@wsj.com
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