UPDATE 3-ThyssenKrupp's Q1 profit buoyed by Brazilian improvement

viernes 14 de febrero de 2014 06:37 GYT
 

* Q1 underlying EBIT 247 mln euros vs average forecast of 213 mln euros

* Brazil's underlying EBIT loss 17 mln euros vs year ago loss of 122 mln

* Net debt 4.5 bln euros at end-Dec vs 5 bln at end-September

* Shares rise 4 percent to top of DAX index

By Maria Sheahan

FRANKFURT, Feb 14 (Reuters) - ThyssenKrupp posted a better than expected quarterly operating profit on Friday, as it reined in losses at its steel mill in Brazil and also benefited from robust demand for cement and petrochemical plants.

Its net loss for the fiscal first quarter through December widened on one-off charges related to the sale of a stake in Finnish steelmaker Outokumpu, but ThyssenKrupp said it still aimed to approach break-even this year.

Shares in ThyssenKrupp were up 3.9 percent at 20.46 euros by 1037 GMT, making them the top gainer on Germany's blue-chip DAX index, which was up 0.5 percent.

ThyssenKrupp has been trying to return to long-term profitability by investing in services and engineering businesses and reducing its dependence on the volatile steel sector.   Continuación...