KUKA AG — Interim / Quarterly Report 2009

May 14, 2009

Cover photo: Speed and power are the key success factors for robotic applications in the wood industry. Even the most powerful KUKA robot – the KR 1000 Titan – has no problem maintaining a fast pace.

I N H A L T

1 Management report

• 2 Overview
• 3 KUKA equity
• 5 General conditions
• 6 Earnings, financial and assets situation
• 7 Employees
• 8 Divisions
• 11 R&D, capital expenditure
• 11 Risk management
• 12 Outlook
• 13 Interim financial statements
• 23 Financial calendar

K U K A G R O U P K E Y F I G U R E S

	3 Months	3 Months	Change
€ million	2009	2008
Orders received	213.7	404.3	-47.1%
Order backlog (03/31)	539.7	647.3	-16.6%
Sales revenues	227.0	280.2	-19.0%
Gross profit	51.1	63.8	-19.9%
in % of sales revenues	22.5%	22.8%	-
Operating result (EBIT)	0.2	15.8	-98.7%
in % of sales revenues	0.1%	5.6%	-
Net result	-1.8	9.8	-
Earnings per share in €	-0.07	0.37	-
Capital expenditure	4.6	7.5	-38.7%
Equity ratio in %	25.2	28.8	-
Liquidity (+) / Net debts (-)	-95.2	28.7	-
Employees (03/31)	6,124	5,831	5.0%

G R O U P I N T E R I M R E P O R T

KUKA Aktiengesellschaft as of March 31, 2009

O V E R V I E W

• Recession weighs heavily on first-quarter orders received (-47.1 percent)
• Sales revenues down substantially (-19.0 percent)
• Order backlog (EUR 539.7 million) notionally secures activity for about five months
• First-quarter EBIT: EUR 0.2 million (prior year: EUR 15.8 million)

K U K A G R O U P B U S I N E S S P E R F O R M A N C E F I R S T Q U A R T E R

In the first quarter of 2009, KUKA had orders received of EUR 213.7 million. This represents a decrease of 47.1 percent compared to the EUR 404.3 million during the same quarter last year, and is down 15.0 percent from the EUR 251.3 million booked during the last quarter of 2008. These results reflect the cautious capital spending of both automotive and general industry customers due to the global recession. A similar development was already evident in the recently released German Engineering Federation (VDMA) numbers, which showed a decline in orders received in the German mechanical and plant engineering sector compared to last year of 42 percent for the first three months of 2009. Orders received reported by Robotics came in at EUR 90.1 million, down 22.9 percent from the EUR 116.8 million posted in the first quarter of 2008, while the Systems division's orders dropped 56.8 percent from the EUR 300.0 million generated in Q1 of 2008.

While the EUR 539.7 million order backlog at the end of March 2009 is significantly less than the EUR 647.3 million posted on March 31, 2008, it was at about the same level as the EUR 542.3 million recorded at last yearend, December 31, 2008. Both divisions' order backlog was lower than at the same time last year. This was also due to the sharply declining economic development: fewer new orders led to a lower order backlog. The order backlog coverage therefore fell from about six months at the end of the last quarter of 2008 to about five months at the end of Q1 2009.

Sales revenues in the first quarter of this year reached EUR 227.0 million, down 19.0 percent or EUR 53.2 million from the EUR 280.2 million reported at the end of the first quarter of 2008. Similar to the situation for orders received, neither division was able to achieve the sales revenue numbers of the prior year's comparable quarter. Robotics posted sales revenues of EUR 96.6 million and Systems reported EUR 138.7 million, a decline of 17.8 percent from Q1 2008's EUR 117.5 million and 20.7 percent from Q1 2008's EUR 174.9 million respectively.

Operating profit (EBIT) of EUR 0.2 million was sharply lower than the prior year's EUR 15.8 million, mainly because of the sales decline. Robotics posted an EBIT of EUR 4.2 million in the quarter just ended compared to EUR 10.1 million in the first quarter of 2008, while Systems reported a loss of -EUR 1.1 million, which compares to a profit of EUR 8.4 million in Q1 2008.

The first phase of a cost-cutting program, which the Group had already initiated at the end of 2008 to address the economic situation, aims to save a total of EUR 50 million in 2009 in the divisions and at Group headquarters. This phase includes the following steps:

• Reduce overtime and vacation
• Cut back on temporary workers
• Restructure operations outside Germany

Additional measures include:

• Reduce costs in purchasing
• Cut administration costs using shared services based on the integrated business model
• Reduce consulting costs
• Optimize marketing costs.

As part of a second phase currently underway, KUKA is negotiating with the employee's representatives and unions in an effort to respond to the sustained recession with suitable cost and capacity adjustments. These discussions are among other things exploring the continued use of reduced working hours, postponement of wage increases, a review of Christmas/vacation bonuses and adjustment of staff levels. The main aim is to avoid layoffs in the core workforce as long as possible, provided the current recession does not become worse.

K U K A E Q U I T Y

F I N A N C I A L M A R K E T C R I S I S T U R N S I N T O W O R L D W I D E R E C E S S I O N

In the first quarter of 2009, the international financial market crisis turned into a global economic recession. The major industrial nations will likely for the first time since the Second World War simultaneously report declining gross domestic products. These negative developments have predominantly affected German companies in the export-focused sectors such as automotive and mechanical and plant engineering.

Mid-cap shares (MDAX) on the German stock markets were continuously under pressure during the first three months of the year. Overall, the MDAX dropped about 23 percent in the first quarter of 2009. KUKA's share price underperformed the index, particularly in January, but recovered in March and closed at EUR 10.21 at the end of the quarter. This represents a decline in KUKA's share price of about 18 percent during the period under review. During the same period, share prices of mechanical engineering companies comparable to KUKA on the MDAX and SDAX lost between 19 and 48 percent.

G R E N Z E B A C H – L A R G E S T S H A R E H O L D E R

Grenzebach Maschinenbau GmbH, based in Hamlar, Bavaria, together with RINVEST AG, headquartered in Pfäffikon, Switzerland, acquired a total of 20.02 percent of KUKA AG's shares in several steps between December 2, 2008 and March 19, 2009 and is now the company's largest shareholder.

At the Annual General Meeting of KUKA AG on April 29, 2009 in Augsburg, Messrs Dinandt and Gierse resigned from their Supervisory Board positions and Mr. Minning, President & CEO of Grenzebach Maschinenbau GmbH, and Dr. Reuter, managing director of RINVEST AG, were elected to the Supervisory Board as representatives of the new shareholder.

Grenzebach Maschinenbau GmbH is an international plant engineering company. KUKA has been working in partnership with the company in the robot business for almost a decade. The strengthening of this alliance opens the door for both companies to further long-term growth opportunities for robotics and systems, as well for the glass, construction materials, solar and aerospace sectors.

K U K A ' S S H A R E P R I C E P E R F O R M A N C E F R O M J A N U A R Y T O M A R C H 2 0 0 9

G E N E R A L C O N D I T I O N S

"The world economy is currently in an economic downturn of historic proportions" according to the researchers at the Kiel Institute for the World Economy. They are expecting that the global economy will shrink in the first quarter of 2009 for the first time since the 1930s. As an exporting nation, Germany is particularly hard hit. According to the German Federal Office of Statistics, in January 2009 alone, exports were down 20.7 percent from the level of January 2008. After many excellent years, overall exports could shrink by 8 percent. Accordingly, latest forecasts of the Federal Republic Government are that gross domestic product during the current year will be down six percent from last year's level. This would be the worst recession since the founding of the Federal Republic.

One of the main sectors impacted by this situation is the automotive industry. In the first quarter of 2009, car sales in Europe dropped 17 percent from last year's levels. In the United States, sales slumped 38 percent during the same period, in France they were down 4 percent and in Italy 19 percent. In Germany, the governmentsponsored scrapping incentive had a very positive impact and led to a increase in car sales of 18 percent.

Orders received from January to March 2009 in the German mechanical and plant engineering sector were down 42 percent in comparison to the high value of the prior year. Both the domestic and export sectors lost ground. The industry is thus back to 1997 levels after a mere few months. Accordingly, the industry association VDMA has already had to revise its forecast for the year twice and is now expecting mechanical OEM production in Germany to shrink by 10 to 20 percent in 2009. The robotic and automation sector's performance was somewhat worse than the industry average in the first quarter of 2009, declining by 48 percent.

E A R N I N G S , F I N A N C I A L A N D A S S E T S S I T U A T I O N

KUKA Group's sales revenues declined substantially in the first three months of 2009. Whereas they were EUR 280.2 million at the end of the prior year's first quarter, this year they came in at EUR 227.0 million, down 19 percent or EUR 53.2 million. Robotics' sales revenues decreased 17.8 percent and Systems posted a decline of 20.7 percent.

KUKA Group's gross margin came in at 22.5 percent, about the same as the 22.8 percent generated in the first quarter of 2008. Robotics' gross margin rose from 32.3 percent to 35.9 percent, impacted by a reversal of accrued liabilities. In contrast, the Systems division's margin decreased from 15.0 percent in the first quarter of 2008 to 11.7 percent in the quarter just ended. This is primarily due to the lower quality of earnings for completed projects. Cost-cutting program measures in the material costs area are mitigating this situation. The already introduced measures to cut personnel and sales costs will start to bear fruit during the second quarter of the financial year.

Other operating expenses and income rose from - EUR 0.4 million in the first quarter of 2008 to - EUR 2.7 million in the first quarter of 2009. This increase is mainly due to currency hedging contracts.

As a result of the overall business situation, the Group was unable to match the operating profit (EBIT) of EUR 15.8 million generated during the same quarter last year. Still, the Group was able to generate a break-even EBIT of EUR 0.2 million in Q1 2009. Because of declining sales and a lower capacity utilization, EBIT margin declined substantially, going from 5.6 percent in Q1 2008 to 0.1 percent. Whereas the Robotics division generated positive earnings of EUR 4.2 million in the first three months of 2009, the Systems division's came in at only - EUR 1.1 million.

Net interest result in the first three months of 2009 improved from - EUR 1.6 million in the first three months of 2008 to - EUR 1.3 million. Net interest result includes mainly the interest expenses for the convertible bond in the amount of EUR 1.2 million, interest on pensions of EUR 1.0 million and other interest income, primarily in connection with the finance lease associated with the KTPO pay-on-production contract in the United States. Interest income from the finance lease was not yet included during the comparable period of 2008.

Earnings before taxes (EBT) in the first three months totaled - EUR 1.1 million. This compares to EUR 14.2 million in Q1 2008. Tax expenses during the period under review totaled EUR 0.7 million. The tax expense was driven primarily by earnings subject to taxation in the United States. Because of our conservative balance sheet principle, tax yields related to deferred taxes resulting from negative earnings contributions by other foreign subsidiaries are not shown.

Net result in the period under review were - EUR 1.8 million, compared to last year's Q1 of EUR 9.8 million.

KUKA Group's balance sheet as of March 31, 2009 showed a high backlog of construction contracts totaling EUR 150.2 million, which is nevertheless 10.1 percent lower than the EUR 167.1 million reported on December 31, 2008. However, the company was able to reduce the net difference in receivables and payables from construction contracts by EUR 16.6 million to EUR 95.9 million between the end of 2008 and March 31, 2009. At the same time, trade receivables declined EUR 13.2 million, from EUR 164.4 million at the end of 2008 to EUR 151.2 million. On the liability side, short-term accruals and accounts payable were reduced.

The equity ratio increased to 25.2 percent as of March 31, 2009, from 24.7 percent on December 31, 2008. This was driven by a reduction of EUR 24.0 million in total assets, which were down to EUR 841.5 million from EUR 865.5 million as of December 31, 2008. Overall, total equity declined by EUR 1.2 million to EUR 212.3 million due to the quarterly result, the income-neutral treatment of actuarial losses related to pension accruals and offsetting currency effects.

The Group's net debt, which is calculated by subtracting current and non-current financial liabilities from liquid assets, was EUR 95.2 million as of March 31, 2009. At the end of 2008, net debt was EUR 53.6 million. The difference is mainly attributable to the EUR 54.9 million decline in accounts payable. They went from EUR 149.1 million on December 31, 2008 to EUR 94.2 million as of March 31, 2009.

E M P L O Y E E S

As of March 31, 2009, the Group had 6,124 employees (converted to full-time staff, excluding temporary workers). This represents an increase of 293 persons over the 5,831 persons employed as of the first quarter of 2008. The year-over-year increase occurred mainly in the Robotics division's general industry (+106) and service (+107) segments, as well as Systems' general industry unit (+49).

Forty-seven employees have been laid off since the end of 2008, bringing the total from 6,171 at the end of 2008 to currently 6,124. This reduction occurred mainly at foreign subsidiaries, where capacity adjustments are already being made as part of the ongoing cost-cutting program. The number of temporary workers dropped from 1,008 on December 31, 2008 to 639 as of March 31, 2009. In total, as of the end of March, 4,546 of our core staff were employed in manufacturing, 586 in sales, 551 in administration and 280 in R&D. KUKA also employs 161 apprentices.

D E V E L O P M E N T S I N T H E D I V I S I O N S

	3 Months	3 Months	Change
€ million	2009	2008
Orders received	90.1	116.8	-22.9%
Order backlog (03/31)	94.1	106.8	-11.9%
Sales revenues	96.6	117.5	-17.8%
Gross profit	34.7	37.9	-8.4%
in % of sales revenues	35.9%	32.3%	-
Operating result (EBIT)	4.2	10.1	-58.4%
in % of sales revenues	4.3%	8.6%	-
Employees (03/31))	2,252	2,081	8.2%

R O B O T I C S K E Y F I G U R E S

The Robotics division reported orders received of EUR 90.1 million in the first three months of 2009. This represents a decline of 22.9 percent, or EUR 26.7 million, from the EUR 116.8 million generated in the first quarter of 2008. While bookings dropped 17.3 percent from last year's EUR 32.9 million to EUR 27.2 million in the automotive sector, in general industry they were down 32.4 percent, from EUR 59.9 million last year to EUR 40.5 million this year. In service, business was more stable and the posted EUR 22.4 million was down only 6.7 percent from last year's EUR 24.0 million.

The Robotics division's order backlog as of March 2009 was down to EUR 94.1 million from EUR 106.8 million on last year's period end date. The order backlog thus notionally secures activity for 2.3 months as of the end of March, compared to 2.7 months on March 31, 2008.

Sales revenues tracked orders received. The Robotics division's sales in the first three months of 2009 came in at EUR 96.6 million, which compares to EUR 117.5 million during Q1 2008. This represents a decline of 17.8 percent or EUR 20.9 million. Major sales in the first quarter 2009 came from VW Bratislava and Daimler, among others.

Operating profit (EBIT) fell from EUR 10.1 million in the first quarter of 2008 to EUR 4.2 million during the period under review because of significantly lower sales revenues. EBIT margin declined accordingly, going from 8.6 percent to 4.3 percent. The Robotics division is countering these developments through the ongoing cost-cutting program.

The Robotics division had 2,252 employees as of March 31, 2009 (converted to full-time staff, excluding temporary workers). This represents an increase of 171 employees compared to the 2,081 persons in the workforce as of the prior year's Q1 end date. The core workforce is down slightly since the end of 2008, with nine fewer persons.

	3 Months	3 Months	Change
€ million	2009	2008
Automotive	27.2	32.9	-17.3%
General Industry	40.5	59.9	-32.4%
Service	22.4	24.0	-6.7%
Total Robotics	90.1	116.8	-22.9%

O R D E R S R E C E I V E D B Y S E G M E N T : R O B O T I C S

In the first quarter of 2009, the Robotics division continued to receive major orders from the automotive industry; for example from VW, including a large order for VW Mexico. BMW ordered robots for the joint venture company BMW Brilliance Automotive Ltd. in China. Ford ordered robots for manufacturing new models in Spain and Romania. Magna purchased robots to produce a new BMW in Graz, Austria. Agreements were signed for robot deliveries for various Daimler models.

Even though orders received were down sharply in the general industry segment as a result of the recession and financing situation, Robotics was able to win new customers in the first quarter 2009 and consolidate its market share.

€ million	3 Months 2009	3 Months 2008	Change
Orders received	129.6	300.0	-56.8%
Order backlog (03/31)	451.5	550.6	-18.0%
Sales revenues	138.7	174.9	-20.7%
Gross profit	16.2	26.2	-38.2%
in % of sales revenues	11.7%	15.0%	-
Operating result (EBIT)	-1.1	8.4	-
in % of sales revenues	-0.8%	4.8%	-
Employees (03/31)	3,719	3,614	2.9%

S Y S T E M S K E Y F I G U R E S

The Systems division posted orders received of EUR 129.6 million for the first quarter of 2009, a substantial 56.8 percent or EUR 170.4 million less than the prior year's comparable EUR 300.0 million. The downturn was caused by the global recession, which is affecting all regions. Furthermore, orders received in the first quarter of the prior year benefited from various large orders. In 2009, Systems actively reduced its risk exposure and only accepted orders from North American customers on a restricted basis.

Order backlog as of March 31, 2009 was EUR 451.5 million, EUR 99.1 million or 18.0 percent lower than the comparable EUR 550.6 million of the prior year's quarter. However, order backlog remained stable in comparison to the 2008 year-end closing number of EUR 450.3 million. As of March 31, 2009, the Systems division's order backlog notionally secures activity for 6.3 months. This compares to about 8 months as of March 31, 2008.

Sales revenues in the first quarter of 2009 reached EUR 138.7 million, a drop of 20.7 percent or EUR 36.2 million from the EUR 174.9 million generated in the first quarter of last year.

The Systems division did not reach the high operating profit (EBIT) of the prior year's comparable quarter, mainly due to the lower quality of earnings for completed projects. Including the decline in sales, EBIT dropped substantially, from EUR 8.4 million at the end of the prior year's first quarter to - EUR 1.1 million. EBIT margin went from 4.8 percent last year to -0.8 percent in the current year. The group-wide cost-cutting program is also securing the profit performance of this division. Short time work has already started to be introduced in Schwarzenberg, the division's press tool manufacturing location.

The Systems division had 3,719 employees as of the end of March 2009 (converted to full-time staff, excluding temporary workers). The number of workers therefore increased by 2.9 percent from the 3,614 persons employed at the end of March 2008. Nevertheless, the total workforce declined by 62 persons since December 31, 2008, predominantly in the United States.

	3 Months	3 Months	Change
€ million	2009	2008
Germany	30.0	51.0	-41.2%
Europe (without Germany)	29.9	47.3	-36.8%
USA	53.8	150.8	-64.3%
Asia and other regions	15.9	50.9	-68.8%
Total orders received	129.6	300.0	-56.8%

O R D E R S R E C E I V E D B Y R E G I O N : S Y S T E M S

In Germany, the Systems division's orders received were down 41.2 percent, from EUR 51.0 million at the end of the first quarter of 2008 to EUR 30.0 million. Other regions, such as Europe (excluding Germany), Asia and other regions, also reported weaker demand and posted declines of 36.8 percent to EUR 29.9 million versus EUR 47.3 million in the first quarter of 2008 and 68.8 percent to EUR 15.9 million versus EUR 50.9 million in Q1 2008. In North America, orders received plunged 64.3 percent to EUR 53.8 million from EUR 150.8 million on March 31, 2008.

R E S E A R C H A N D D E V E L O P M E N T , C A P I T A L E X P E N D I T U R E

Research and development is strategically important to KUKA Group. This is why EUR 9.1 million were spent on R&D in the first three months of 2009, versus EUR 8.5 million the year prior. The research ratio therefore rose from 3.0 percent in the first quarter 2008 to 4.0 percent in the first quarter of 2009, driven by the lower sales volume. The Robotics division spent EUR 8.6 million on research and development, compared to EUR 7.9 million in the first quarter of 2008. This represents 8.9 percent of the division's sales revenues. The remaining costs are attributable to the Systems division. Here the R&D budget is always considerably lower as a result of the high volume of customer–specific development activities.

Capital expenditure on plant, property and equipment and intangible assets in the first three months of the year came in at EUR 4.6 million, compared to EUR 7.5 million in the first quarter of 2008. This decline is attributable to active cost management.

R I S K M A N A G E M E N T

KUKA Group is primarily exposed to market risks. This includes in particular the effects of the international financial market crisis, which have worsened the economic downturn. There is also the issue of dependency on major customers in the automotive sector, particularly in the case of our American subsidiaries.

The total risk exposure of KUKA to the American manufacturers facing financial difficulties (Chrysler and Jeep Wrangler/KTPO, General Motors/Opel) is currently in the order of EUR 28 million. The risk of receivable default (trade receivables, PoC receivables and open orders) is now one of KUKA Group's major risks and is being regularly monitored with particular diligence.

On April 30, 2009, our customer Chrysler filed for protection of creditors under the terms of Chapter 11 of the American bankruptcy code. As of April 30, 2009, the risk exposure associated with Chrysler totaled about EUR 20 million. Half of this was due to receivables default risks and underutilization associated with the KTPO pay-onproduction contract. In addition, the KTPO pay-on-production contract exits of a receivable from the financing lease model in the amount of EUR 88 million as of the end of April 2009. The increase over the EUR 82 million as of December 31, 2008 is about EUR 6 million, because of the change in the exchange rate between the US dollar and the Euro. The extent to which this receivables needs to be impaired, if at all, cannot be finally assessed and depends on the outcome of Chrysler's Chapter 11 bankruptcy process.

Based on the Jeep Wrangler sales figures, built at our KTPO pay-on-production plant, we still expect the factory to continue operations. Nevertheless, because of the Chapter 11 filing by Chrysler, production at KTPO was halted on May 4, 2009. As was the case on December 31, 2008, no impairments with these receivables were recognized in the first quarter of 2009.

Nothing of material importance has changed since December 31, 2008 with respect to other risks. Please refer to pages 61 and following of the detailed risk report in the 2008 Annual Report in this regard.

O U T L O O K

Despite sharply lower orders received and sales revenues, KUKA achieved a break-even EBIT in the first quarter of 2009. At the same time, the high order backlog in the Systems division will support the capacity utilization in the second and third quarter of 2009.

KUKA continues to adhere to its strategy of securing the automotive business and expanding the general industry business. We are continuing to enhance the integrated business model.

In spite of the difficult market situation, KUKA continues to strive toward achieving a break-even to slightly positive operating profit (EBIT) and positive free cash flow in 2009 including adjustments and restructuring measures implemented so far. However, these expectations exclude the final outcome of Chrysler's Chapter 11 bankruptcy proceedings and further possible bankruptcy proceedings with other major clients.

On the market site, the Group will continue to seize all sales opportunities and internally, will exploit all possibilities to cut costs and secure liquidity. KUKA is accelerating the ongoing cost-cutting program in order to achieve this goal. The main aim is to avoid layoffs in the core workforce as long as possible, provided the current economic situation does not become worse.

I N T E R I M R E P O R T ( C O N D E N S E D )

G R O U P C O N S O L I D A T E D I N C O M E S T A T E M E N T ( C O N D E N S E D )

	3 Months	3 Months
€ million	2009	2008
Sales revenues	227.0	280.2
Cost of sales	-175.9	-216.4
Gross profit	51.1	63.8
Selling expenses	-20.6	-19.7
Research and development expenses	-9.1	-8.5
General and administrative expenses	-18.5	-19.4
Other operating income and expenses	-2.7	-0.4
Earnings from operating activities (EBIT)	0.2	15.8
Net interest income/expense	-1.3	-1.6
Earnings before tax	-1.1	14.2
Taxes on income	-0.7	-4.4
Net result	-1.8	9.8
thereof minority interests in profits	0.0	0.0
threreof shareholders of KUKA AG	-1.8	9.8
Earnings per share (in € after minority interests; diluted/ undiluted)	-0.07	0.37

CONSOLIDATED BALANCE SHEET

A S S E T S

€ million	03/31/2009	12/31/2008
Non-Current assets
Fixed assets
Intangible assets	74.5	74.2
Tangible assets	91.9	93.0
Financial investments	1.1	0.4
	167.5	167.6
Long-term finance lease receivables	84.8	82.0
Long-term tax receivables	11.7	11.6
Other long-term receivables and other assets	8.3	10.2
Deferred taxes	29.9	26.6
	302.2	298.0
Current assets
Inventories	160.6	151.5
Receivables and other assets
Trade receivables	151.2	164.4
Receivables from construction contracts	150.2	167.1
Receivables from affiliated companies	0.8	0.4
Current finance lease receivables	3.5	3.3
Current tax receivables	27.1	22.8
Other assets, prepaid expenses and deferred charges	15.7	16.7
	348.5	374.7
Cash and cash equivalents	30.2	41.3
	539.3	567.5
	841.5	865.5

E Q U I T Y A N D L I A B I L I T I E S

€ million	03/31/2009	12/31/2008
Equity	212.3	213.5
Non-current liabilities, provisions and accruals
Non-current financial liabilities	61.9	61.3
Other non-current liabilities	15.2	13.1
Pensions and similiar obligations	69.9	68.5
Deferred taxes	16.0	13.1
	163.0	156.0
Current liabilities
Current financial liabilities	63.5	33.6
Trade payables	94.2	149.1
Advances received	49.1	36.7
Liabilities from construction contracts	54.3	54.6
Accounts payable to affiliated companies	0.2	0.2
Other current liabilities and deferred income	100.6	103.0
Provision for taxes	10.6	11.3
Other provisions	93.7	107.5
	466.2	496.0
	841.5	865.5

C A S H F L O W S T A T E M E N T

	3 Months	3 Months
€ million	2009	2008
Net result	-1.8	9.8
Depreciation/amortization on fixed assets	6.2	6.3
Other non-payment-related expenses/income	-0.6	1.6
Result on the disposal of assets	0.0	-0.5
Changes in
provisions	-16.5	-38.6
inventories	-8.9	-4.5
receivables and deferred charges	33.4	4.5
liabilities and deferred income	-48.8	-24.8
Cash flow from operating activities	-37.0	-46.2
Payments from disposals of fixed assets	0.1	1.1
Payments for capital expenditure on tangible and intangible assets	-4.6	-7.5
Payments for investments in financial assets	-0.8	0.0
Payments for the acquisition of a finance lease receivable	0.0	-77.1
Cash flow from investing activities	-5.3	-83.5
Free cash flow	-42.3	-129.7
Payments for the acquisition of treasury shares	0.0	-2.2
Changes in financial liabilities	30.4	1.1
Cash flow from financing activities	30.4	-1.1
Payment-related change in cash and cash equivalents	-11.9	-130.8
Exchange-rate-related and other changes in cash and cash equivalents	0.8	-3.1
Change in cash and cash equivalents	-11.1	-133.9
Cash and cash equivalents at the beginning of the period (01/01)	41.3	223.2
Cash and cash equivalents at the end of the period (03/31)	30.2	89.3

S T A T E M E N T O F C O M P R E H E N S I V E I N C O M E

	3 Months	3 Months
€ millions	2009	2008
Net result	-1.8	9.8
Translation adjustments	2.3	-3.2
Changes of actuarial gains and losses	-2.1	1.9
Deferred taxes on changes of acturial gains and losses	0.4	-0.3
Other comprehensive income	0.6	-1.6
Comprehensive income	-1.2	8.2
of which: attributable to minority interests	0.0	0.0
of which: attributable to shareholders of KUKA AG	-1.2	8.2

					Revenue reserves
	Number of shares outstanding	Subscribed capital in € millions	Capital reserve in € millions	Treasury stock in € millions	Trans lation gains/ losses in € millions	Market valuation/ hedges in € millions	Actuarial gains and losses in € millions	Annual net income and other revenue reserves in € millions	Equity to shareholders in € millions	Minority interests in € millions	Total in € millions
01/01/2009	25,272,660	69.2	26.5	-27.9	-8.5	0.0	6.9	145.8	212.0	1.5	213.5
Comprehensive income					2.3		-1.7	-1.8	-1.2		-1.2
Purchase of capital stock											0.0
Other changes and changes of ownership											0.0
03/31/2009	25,272,660	69.2	26.5	-27.9	-6.2	0.0	5.2	144.0	210.8	1.5	212.3

S T A T E M E N T O F C H A N G E S I N S H A R E H O L D E R S ' E Q U I T Y

						Revenue	reserves
	Number of	Sub scribed	Capital	Treasury	Translation gains and	Market valuation/	Actuarial gains and	Annual net income and other revenue	Equity to share	Minority
	shares outstanding	capital in € millions	reserve in € millions	stock in € millions	losses in € millions	hedges in € millions	losses in € millions	reserves in € millions	holders in € millions	interests in € millions	Total in € millions
01/01/2008	26,600,000	69.2	26.5	0.0	-8.2	0.0	3.5	141.1	232.1	1.4	233.5
Comprehensive income					-3.2		1.6	9.8	8.2		8.2
Purchase of capital stock	-127,979			-2.7					-2.7		-2.7
Other changes and changes of ownership								-0.2	-0.2		-0.2
03/31/2008	26,472,021	69.2	26.5	-2.7	-11.4	0.0	5.1	150.7	237.4	1.4	238.8

N O T E S O N T H E Q U A R T E R L Y R E P O R T ( C O N D E N S E D )

I F R S / I A S A C C O U N T I N G S T A N D A R D S

KUKA Aktiengesellschaft, headquartered in Augsburg, has prepared its condensed consolidated financial statements for March 31, 2009 according to the International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS) of the International Accounting Standards Board (IASB), as well as the interpretations of the Standing Interpretation Committee (SIC) and International Financial Reporting Interpretation Committee (IFRIC), as adopted by the European Union as of the period end. The interim report is prepared in accordance with IAS34.

All IFRS/IAS standards and interpretations of the IFRIC applicable to the 2009 financial year were taken into account. The accounting and valuation policies correspond in principle to the methods used on December 31, 2008, with the exception of the standards and interpretations that came into force for the first time in the 2009 financial year. The newly applied standards and interpretations are listed under "Changes to accounting and valuation policies".

S C O P E O F C O N S O L I D A T I O N

The Group's interim report contains KUKA Aktiengesellschaft, six companies registered inside Germany and thirty-five firms domiciled outside Germany - for a total of forty-two - for which KUKA Aktiengesellschaft either directly or indirectly holds majority voting rights.

In comparison to December 31, 2008, a total of four companies have been eliminated from the scope of consolidation as follows:

• D.V. Automation Ltd., Halesowen / Great Britain
• KUKA Welding Systems + Robot Ltd., Halesowen / Great Britain
• LSW UK Ltd., Harlow / Great Britain

and LSW Maschinenfabrik GmbH, Bremen, which was merged with KUKA Systems GmbH, Augsburg.

A C C O U N T I N G A N D V A L U A T I O N P O L I C I E S

The same valuation methodology and financial principles as those used in the consolidated financial statements for the 2008 business year were applied in preparing these interim financial statements and establishing the comparison figures to the prior year. A description of the principles is published in the notes of the 2008 Group consolidated financial statements. The latter are also available on the Internet at www.KUKA.com.

C H A N G E S T O A C C O U N T I N G A N D V A L U A T I O N P O L I C I E S

The following new standards and interpretations have come into effect since the start of the 2009 financial year:

• IFRS 8 business segments
• Changes to IFRS 2 share-based compensation
• IAS 1 presentation of the financial statements (revised)
• IAS 23 debt capital (revised)

• Changes to IAS 32 financial instruments: Presentation and IAS 1 presentation of the financial report

• Changes to IAS 39 eligible hedged items*

• Changes to IFRS (annual revision process 2007) **
• IFRIC 11 IFRS 2 transactions with treasury shares and shares of group companies
• IFRIC 13 customer retention programs
• IFRIC 15 agreements regarding the construction of real estate*
• IFRIC 16 hedging a net investment in a foreign business operation*

* conditional upon endorsement by the European Union

** affects the following standards: IFRS 5, IAS 1, IAS 16, IAS 19, IAS 20, IAS 23, IAS 27, IAS 28, IAS 29, IAS 31, IAS 36, IAS 38, IAS 39, IAS 40 and IAS 41

IFRS 8 - business segments - as well as the revised IAS 1 - presentation of the financial statements - impact the way the financial information is published, but not the method of evaluating assets and debt. The remaining new standards and interpretations are not applicable to or have little impact on KUKA's consolidated statements.

I A S 1 9 E M P L O Y E E B E N E F I T S

The income-neutral sum of EUR 1.7 million (including deferred taxes) was reported under equity in the report dated March 31, 2009 for the purposes of employee benefits accounting in accordance with IAS 19. This amount was for the adjustment of the rate of return from 6.25 percent p.a. to 5.9 percent p.a. for insurance-related notional profits resulting from German pension obligations and insurance-related notional losses reported for US plan assets in consideration of deferred taxes.

C A S H F L O W S T A T E M E N T

The cash flow statement defines the flow of funds into and out of the KUKA Group in accordance with IAS 7. The amount recognized as cash and cash equivalents comprises bank balances, checks and cash on hand.

S E G M E N T R E P O R T I N G

Starting with the 2009 financial year, the IFRS 8 ruling on business segments must be applied. External segment reporting must now be aligned with internal reporting ("management approach"). Segment reports will be strictly based on financial information used by the company's decision makers to internally manage the company and decide on the allocation of resources and assessment of profits.

Because of the company's internal organizational and reporting structure, the segment reporting used to date by KUKA has not changed. The key financial indicators are already being determined for both segments, KUKA Robotics and KUKA Systems. EBIT is used as the key indicator in regard to managing segment profits. The main elements are contained in the reports on the operating business divisions, Robotics and Systems.

S H A R E B U Y B A C K P R O G R A M

The share capital totals EUR 69,160,000.00, and is divided into 26,600,000 individual no-par value shares issued to bearer, the same as on December 31, 2008. Between March 25, 2008 and August 29, 2008, the company bought back its own shares on the open market as authorized at the annual general meeting on May 16, 2007. In accordance with this authorization, KUKA Aktiengesellschaft bought back 1,327,340 KUKA shares valued at EUR 27,898,339.58. As of March 31, 2009, 25,272,660 shares remained outstanding.

E A R N I N G S P E R S H A R E

Undiluted earnings per share were calculated by dividing the group's after tax consolidated net earnings adjusted for minority interests by the Group's 25.3 million outstanding shares. The earnings per share are - EUR 0.07 per share.

C O N T I N G E N T L I A B I L I T I E S A N D O T H E R F I N A N C I A L O B L I G A T I O N S

There has been no material change in other financial obligations and contingent liabilities since December 31, 2008.

F I N A N C I N G L E A S E

As presented in the 2008 financial report, a financing lease has existed in conjunction with the car body production for Chrysler's Jeep Wrangler since the first quarter of 2008. The redemption of the financing to take over legal ownership of the buildings and production systems totaled EUR 77.1 million; as a result, the Systems division's capital employed rose.

Because of the existing agreement to supply car bodies to Chrysler, the acquisition of the production system assets were not included on the balance sheet as an asset acquisition, but instead categorized as a finance lease in accordance with IFRIC 4/IAS 17 guidelines and booked as a receivable from finance leases. In the future, sales revenues shown on KTPO's balance sheet will thus be reduced by the fictitious leasing rate. The interest component included in the fictitious leasing rate is booked under net interest income/expense, while the repayment component of this payment reduces the receivables as per schedule.

R E L A T E D P A R T Y D I S C L O S U R E S

Persons or companies that may be influenced by the reporting companies or that may influence the reporting companies are to be disclosed in accordance with IAS 24, provided they have not already been included as part of the scope of consolidation in the financial statements.

Parties related to KUKA Group include mainly members of the Executive and Supervisory boards as well as nonconsolidated companies in which KUKA Aktiengesellschaft directly or indirectly holds more than 20 percent of the voting rights, or companies which directly or indirectly hold more than 20 percent of the voting rights of KUKA Aktiengesellschaft.

Grenzebach Maschinenbau GmbH, Hamlar, Bavaria and RINVEST AG, Pfäffikon, Switzerland each own 10.01 percent of KUKA Aktiengesellschaft. In accordance with the voting rights notification dated April 15, 2009, RINVEST voting rights are to be added to Grenzebach's voting rights as per article 22, paragraph 1 P. 1 No. 2 and P. 2 of the German Securities Trading Act. Grenzebach therefore holds a total of 20.02 percent of the voting rights in KUKA Aktiengesellschaft and the information as per IAS 34 and IAS 24 must be disclosed.

In total, the value of goods and services supplied to the Grenzebach group in the first quarter of 2009 was EUR 0.6 million. The goods and services supplied by the group were worth EUR 0.4 million. As of March 31, outstanding receivables totaled EUR 0.4 million. There were no liabilities. The market oriented transfer prices are in accordance with the "dealing at arm's length" principle.

There have been no material changes in dealings with related parties since December 31, 2008.

E V E N T S O F M A J O R I M P O R T A N C E A F T E R T H E E N D O F T H E R E P O R T I N G P E R I O D

On April 27, 2009, KUKA AG published an ad hoc release in accordance with article 15 of WpHG. The following is an excerpt: "KUKA continues to make adjustments and implement restructuring measures aimed at achieving a break-even to slightly positive operating profit (EBIT) and positive free cash flow in 2009 in spite of the difficult market situation." Please refer also to the "Outlook" section of this report.

On April 30, 2009, our customer Chrysler filed for protection of creditors under the terms of Chapter 11 of the American bankruptcy code. As of April 30, 2009, the risk exposure associated with Chrysler totaled about EUR 20 million. Half of this was due to receivable default risks and underutilization associated with the KTPO pay-onproduction contract. In addition, the KTPO pay-on-production contract exits of a receivable from the financing lease model in the amount of EUR 88 million as of the end of April 2009. The increase over the EUR 82 million as of December 31, 2008 is about EUR 6 million, because of the change in the exchange rate between the US dollar and the Euro. The extent to which this receivable needs to be impaired, if at all, cannot be finally assessed and depends on the outcome of Chrysler's Chapter 11 bankruptcy process.

Based on the Jeep Wrangler sales figures, built at our KTPO pay-on-production plant, we still expect the factory to continue operations. Nevertheless, because of the Chapter 11 filing by Chrysler, production at KTPO was halted on May 4, 2009. As was the case on December 31, 2008, no impairments with these receivables were recognized in the first quarter of 2009.

Augsburg, May 12, 2009

The Executive Board

Dr. Kayser Dr. Rapp

Annual report to mid-year August 4, 2009 Interim report for the first nine months November 3, 2009 Preliminary figures for the 2009 financial year February 2, 2010 Financial results press conference, Munich March 11, 2010

Note:

The quarterly report contains forward-looking statements based on assumptions and estimates made by the management of KUKA Aktiengesellschaft. Although management is of the opinion that these assumptions and estimates are accurate, future actual developments and future actual results could deviate significantly from these assumptions and estimates due to a variety of different factors. Some of these factors could, for example, include a change in the overall economic climate, exchange rates and interest rates, as well as changed conditions in the markets themselves. KUKA Aktiengesellschaft makes no guarantees that future developments and actual future results will align with the assumptions and estimates contained in this report, nor does it accept any liability for same.

C O N T A C T

KUKA Aktiengesellschaft Public & Investor Relations PO Box 43 12 69 86072 Augsburg Phone: +49 821 797 5251 Fax: +49 821 797 5336 E-mail: PR@kuka.com www:kuka.com