Thyssenkrupp's Q1 operating profit down 33% on lower steel prices

FRANKFURT, Feb 14 (Reuters) - German warship-to-car parts conglomerate Thyssenkrupp (TKAG.DE) on Tuesday said its operating profit fell by 33% in the first quarter, blaming lower prices for materials, including steel, in the wake of a weakening global economy.

Adjusted earnings before interest and tax (EBIT) came in at 254 million euros ($272 million) in the October-December period, while sales remained stable at 9.02 billion euros.

"There is limited visibility in respect of future economic developments," Chief Financial Officer Klaus Keysberg said in a statement, describing first-quarter results as robust despite an environment that continues to be uncertain.

Concerns of a cooling of the global economy following the war in Ukraine have caused prices for steel to come down from their high levels seen in 2022, hitting Thyssenkrupp's materials trading division.