Thyssenkrupp’s sales in Q1 decrease y-o-y
Time:Mon, 16 May 2022 08:56:27 +0800
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Thyssenkrupp, a German steel manufacturer, indicated that shipments in the first quarter fell due to decreasing demands.
The company’s sales dropped by 6% to around 2.54 million tons compared from the same period of last year. It was forecasted that the EU demands for steel in 2022 will decrease by 2% year on year, and cost of energy will be increased. Because of the Russia-Ukraine war, lockdown in China, and unstable raw material prices, the problem of supply chains would be expanded.
However, the higher market prices made the orders increase by 39%, and sales grow by 52% to EU$3.4 billion. Thyssenkrupp’s orders will rise by above 50% to €13.6 billion.
If the supply of fossil fuel, especially natural gas, and raw material will not be restricted, and the prices keep stable. The sales performances of Thyssenkrupp are expected to increase in 2022.
