tk Materials produces good performance under outgoing ceo

thyssenkrupp Materials Services enjoyed a positive market environment with appreciably higher volumes in the fiscal year that ended 30 September, Kallanish learned from its executives at thyssenkrupp AG’s annual press conference.

Order intake and sales of the major European steel distribution and trading company rose by 6% and 7%, to €14.5 billion ($16.5 billion) and €14.7 billion, respectively. There was a clearly positive trend in almost all areas, particularly in North America, Eastern Europe, and the auto-related service centres, the group notes. Adjusted Ebit rose by 2% to €317 million.

Shipments increased at all units, particularly in the important warehousing and service business with growth of 4.5%. In total 11.1 million tonnes of materials were sold. Shipments of stainless steel products at Acciai Speciali Terni, which is still temporarily included in this division, were stable at 0.9mt.

The division has stepped up its digitalisation processes and distribution channels in recent years. Information on its entire product range is being digitised and consolidated in what thyssenkrupp claims will be the world’s biggest virtual materials’ warehouse at 271 operating sites worldwide.

The division’s ceo, Joachim Limburg, will be retiring at the end of the year, with a yet-to-be-appointed successor taking the reins as from January.