ThyssenKrupp Q3 profit seen rising on car demand

Fri Aug 12, 2011 12:00am GMT
 

* Q3 adj EBIT seen up 3 pct at 583 million euros

* Steelmaker seen confirming FY outlook

* Good demand from makers of cars and machinery

* Loss at Steel Americas seen narrowing in Q3

FRANKFURT, Aug 12 (Reuters) - ThyssenKrupp (TKAG.DE: Quote), Germany's biggest steelmaker, is expected to unveil continuing growth in third-quarter underlying profit on brisk demand from carmakers and lower ramp-up costs for a new flagship plant in Brazil.

ThyssenKrupp -- which also makes submarines, elevators and chemical plants -- will likely say that all divisions but Steel Americas were profitable during the period as it basks in Germany's continuing economic recovery.

Steel Americas would have narrowed its loss in the quarter to June as the Brazilian carbon steel plant came to grips with difficulties starting up production.

Analysts expected, on average, that earnings before interest and taxes (EBIT), adjusted for one-offs and losses at Steel Americas, rose 3 percent to 583 million euros ($821.2 million) from the year-earlier quarter. a Reuters poll found. [ID:nLDE779047]

Analysts expect the steelmaker will confirm its full-year target of about 2 billion euros in adjusted EBIT despite concerns of a double-dip in the economy.   Continued...

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