German conglomerate Thyssenkrupp on Tuesday raised its full-year outlook for the second time in three months, boosted by a global financial recovery that drove demand for metal, automotive components and supplies.

The group now expects adjusted earnings earlier than curiosity and tax to achieve a mid triple-digit million euro quantity within the 12 months to September, having beforehand forecast to nearly break even.

The submarines-to-bearings maker is rising from years of disaster throughout which it misplaced two CEOs, warned on income quite a few occasions and offered its elevators division – its crown jewel – to non-public fairness.

“But we additionally know that we nonetheless have quite a lot of work to do. So we’re not sitting again. The realignment of Thyssenkrupp stays a journey of many small steps – and we’re taking these steps,” Chief Executive Martina Merz mentioned.

The group’s metal division, Europe’s second-largest after ArcelorMittal, swung to adjusted earnings earlier than curiosity and tax of 47 million euros, in contrast with a 181 million euro loss in the identical interval final 12 months.

Thyssenkrupp is contemplating spinning off the division after a number of makes an attempt to merge or promote it, together with to Britain’s Liberty Steel, have failed.