Thyssenkrupp has almost quadrupled its second-quarter net income year-on-year from EUR64m (US$76m) to EUR253m.

First-half net income increased even more sharply from EUR58m in the prior year to EUR344m.

"Overall we are satisfied with the first half and therefore well on track to achieving our targets for the year," said Thyssenkrupp CEO, Heinrich Hiesinger.

"At the same time we are working systematically on our programmes to further improve our performance."

The Group's order intake in the first half was 5% down year-on-year. On a comparable basis, that is, excluding currency and portfolio effects, it was down 2%.

Thyssenkrupp increased sales from October to March by 1% and on a comparable basis by 4%. In the second quarter, sales growth excluding currency and portfolio effects was 5%.

Among the capital goods businesses, Components Technology performed positively in the first half, among other things in car components and parts for heavy trucks in Western Europe and China.

Orders in the largely project-based business of Industrial Solutions were down overall, the business having received major orders in the prior year and mainly numerous small and mid-size orders in the reporting period.

Materials Services profited from higher volumes as well as the recovery in prices, while Steel Europe benefited mainly from the recovery in prices.