ThyssenKrupp reported said that adjusted pre-tax profit shot up to 1.03 billion euros (US$1.34 billion) from a loss of 1.076 billion in the previous year.
The group, which makes steel, elevators, submarines, auto parts and provides industrial services, has a fiscal year that runs from October through September.
When exceptional items were included, profit reached 1.14 billion euros, compared with a loss of 2.36 billion in the 2008/2009 exercise.
Sales gained 5% to 42.62 billion euros, in part owing to a pick-up in the auto sector.
"In 2010 the global economy recovered from the deep recession faster than expected a year ago," the group explained.
In the 2010/11 fiscal year, ThyssenKrupp forecast sales growth of between 10%-15%, and said core earnings should come in close to two billion euros, up from 1.2 billion this time around.
Copyright Agence France-Presse, 2010