KUKA AG — Interim / Quarterly Report 2012

May 11, 2012

INTERIM REPORT FOR THE 1ST QUARTER 2012

SMART TOOLS MEET SMART PEOPLE

Smart tools meet smart people

Technology

KUKA's intelligent robotics and automation solutions are always one step ahead.

Markets

KUKA gives its worldwide customers a decisive lead while conducting business sustainably.

Employees

KUKA's people work passionately and creatively. Their strong commitment and expertise is our most valuable asset. KUKA offers continuing education opportunities across the globe.

Partners

KUKA's trustworthiness and reliability is evident in all its partnerships. It's how the company ensures enduring success for all its associates.

Kuka Robotics

KUKA Robotics' core competence is in the development, manufacturing, controlling, sales and service of industrial robots suitable for any application and any industry sector, in addition to linear units, positioners and mobile platforms.

Kuka Systems

KUKA Systems offers its customers robot-based automation solutions. As general contractor, the division designs and builds customized production lines. The division has core competencies in processes such as welding, gluing, sealing, converting, assembling, testing and handling of metals, glass and other materials.

CONTENTS

OVERVIEW	4
KEY FIGURES	4
FOREWORD	5
MA NAGEME NT REPORT	6
E conomic environment	6
Business performance	7
Divisions	8
E arnings position, assets and financial position	11
Research and development	14
E mployees	15
Risk and opportunity report	15
Outlook	15
KUKA A ND THE CA PITA L MA RKET	16
INTE RIM FINANCIA L STATEME NTS	18
FINANCIA L CA LENDAR , DISC LAIME R , CO NTACT	26

OVERVIEW

Record orders received Earnings af t er taxes doubl e

• _ Consolidated orders received reach a new record of EUR 602.6 million, up 51.8 percent from the year prior
• Both divisions report highest ever orders received in a single quarter
• _ Sales revenues up 12.5 percent from the year prior to EUR 367.3 million
• _ EBIT margin of 6.0 percent significantly higher than the year prior;
• Robotics' 10.4% exceeds target margin and Systems rises to 4.4%
• _ Earnings after taxes double: EUR 10.8 million
• _ Guidance for 2012 firmed up: sales forecast at about EUR 1.5 billion and EBIT margin expected to be 5.5 to 6 percent

KUKA GROUP, KEY FIGURES

in EUR million	3 months 2011	3 months 2012	Change
Orders received	397.1	602.6	51.8 %
Order backlog (03 /31)	700.2	981.2	40.1 %
Sales revenues	326.5	367.3	12.5 %
Gross profit	66.8	79.9	19.6 %
in % of sales revenues	20.5%	21.8%	-
Earnings before interest and taxes (EBIT)	14.7	21.9	49.0 %
in % of sales revenues	4.5%	6.0%	-
Earnings before interest, taxes, depreciation and amortization (EBITDA)	20.8	28.5	37.0 %
in % of sales revenues	6.4%	7.8%	-
Net result	5.4	10.8	>100 %
Earnings per share in €	0.17	0.32	88.2 %
Capital expenditure	4.1	12.8	>100 %
Equity ratio in % (03 /31)	20.1%	23.5%	-
Net debts (03/31)	70.1	38.4	-45.2 %
Employees (03 / 31)	6,192	6,804	9.9 %

Foreword

Dear shareholders,

KUKA had an unusually good start to 2012, driven above all by extremely strong demand from the automotive segment.

Orders received jumped no less than 52 percent higher from the year prior. Both Robotics and Systems hit new record highs for bookings. Profit growth was no less outstanding. In the first three months of 2012, KUKA generated an EBIT margin of 6.0 percent, thanks to an relatively high share of sales from general industry. In fact, Robotics hit 10.4 percent, for the first time beating its target margin of 10 percent.

We want to maintain the unusual momentum KUKA developed in the first quarter of 2012 for the rest of the year. We will do this by continuing to systematically execute the strategy we rolled out in 2009, which is to increase our share of sales from general industry and hold our leading position in automotive. Targeted product innovations are a key part of this concept. We are sure a visit to AUTOMATICA 2012, the world's largest robot exhibition, to be held in Munich from May 22 to 25, will convince you. There you will see further impressive examples of our development engineers' strong creativity and the passionate commitment of many KUKA employees.

The compendium of strategic measures we have introduced and the success of our operations are giving us great confidence in our business performance for 2012. Accordingly, we are expecting our sales to come in at around last year's level of EUR 1.44 billion, and are forecasting sales of approximately EUR 1.5 billion. Given this sales forecast, we aim to generate an EBIT margin of 5.5 percent to 6.0 percent.

Yours truly,

Dr Till Reuter Vorstandsvorsitzender

MANAGEMENT REPORT

Economic environm ent

World economy on the rebound

After a pause during the winter, the world economy began to rebound again in spring 2012; however, two growth patterns are increasingly apparent: The booming emerging nations in Asia and South America, together with the United States and now also Japan, are growing steadily. In contrast, the eurozone could see stagnation or even negative business growth in many countries because of weak demand fueled by the European debt crisis. In their spring forecasts, leading German economic research institutes reported they expect that real gross domestic product in the eurozone will decline slightly, by -0.3 percent. Due to strong exports, the federal Republic of Germany's growth forecast of 0.9 percent deviates significantly from the rest of Europe. However, for the following year, economists predict that both the eurozone and Germany will return to higher growth rates of 1.1 percent and 2.0 percent respectively. -30 -20 -10

Demand for cars mirrors economic growth

The demand in the international car markets in the first quarter of 2012 mirrored economic developments. Outside of Europe, most carmakers reported double-digit growth in sales of cars and light commercial vehicles compared to the year prior: Japan (includes catch-up) +50%, Russia +19%, India +15%, USA +13%, China 0% and Brazil -1%. Particular noteworthy is the stagnation in China, although the level remains high. To avoid overheating in the market, the government recently applied the brakes to bank loans for new vehicles. Sales of German premium brands were not yet affected due to increasing discounts. On the other hand, European member states reported that new car registrations in the first quarter of 2012 were down 8 percent overall from the year prior: Germany +1%, UK +1%, Spain -2%, Italy -21% and France -22%.

CAR SALES incl. light Trucks JAN.– Mar. 2012 REGIONS  /  COUNTRIES

Mechanical engineering reports strong orders received - down from last year

At the beginning of the current fiscal year, the German mechanical and plant engineering sector benefited from its strong position in the world markets, especially outside Europe. For example, according to the latest numbers published by VDMA, the German Engineering Federation, the sector received substantial orders from abroad in March 2012. In fact, they were at the previous record levels set at the turn of the 2010/11 year. However, overall, orders for machines and systems in real terms in the first quarter of 2012 were down 9 percent due to the high prior year's numbers they were being compared to. Business in the eurozone was down disproportionately.

Robotics and automation shine with further growth

Nevertheless, VDMA's Robotics and Automation sector continued to develop satisfactorily despite consolidation of the overall market. In the first quarter of 2012, the sector's orders received beat the prior year's number in real terms by 8 percent. The sector reported strong orders growth from abroad, especially in March 2012. This puts Robotics and Automation in top place among fifty other specialty sectors in the German mechanical and plant engineering industry.

Business perform anc e

The strong demand for capital goods for robot-based automation of industrial processes seen last year continued in the first quarter of 2012. It even accelerated further in key market segments. This applies above all to the international automotive industry, which continues to invest heavily in new vehicle models and manufacturing systems around the world. As a result, both the Robotics and Systems division reported their highest ever orders received in a quarter. The Robotics division's orders doubled to EUR 264.7 million from the previous strong years 2007 and 2008 (Q1 / 2007 and Q1 / 2008: EUR 116,8 million). This also represents an increase of 44.6 percent from the previous record EUR 183.1 million generated in Q1 /2011.

The systems business profited mainly from large automotive industry orders, which related to current model changes and are concentrating in the first half of 2012. As a result, the Systems division was able to generate orders received of EUR 344.3 million in the first quarter of 2012. This result exceeded last year's number of EUR 215.8 million by 59.5 percent.

KUKA Group posted consolidated orders received of EUR 602.6 million in the first quarter of 2012, which is 51.8 percent higher than the EUR 397.1 million generated in the first quarter of 2011 and 37.9 percent higher than the previous record of EUR 436.9 million set in Q1/2007. The start of the company's current fiscal year has thus been outstanding.

KUKA Group's consolidated sales revenues for the first quarter of 2012 were reported at EUR 367.3 million, roughly the same as in prior quarters, because of the longer lead times, especially for the project business. The quarterly average for 2011 is about EUR 360 million. Both operating divisions are thus exceptionally well loaded. Sales were 12.5 percent higher than the EUR 326.5 million reported in Q1 / 2011. Both divisions contributed to this growth. In the first quarter 2012, Robotics sent out invoices totaling EUR 152.8 million, 12.4 percent more than the EUR 136.0 million billed in Q1 / 2011. Systems invoiced systems and components worth EUR 219.8 million, up 7.4 percent from the EUR 204.7 million reported in Q1/2011. 0 50 100 150 200 250 300 350 400

KUKA GROUP – SALES REVENUES

At the same time, the company's orders on hand again rose substantially in the first quarter of 2012. Order backlog at the end of the quarter approached the EUR 1 billion threshold and on March 31, 2012 was posted at EUR 981.2 million, up 40.1 percent from the EUR 700.2 million recorded on the prior year's corresponding record date, March 31, 2011.

This development impacted the Robotics division especially because of its strong orders received growth. At the end of the quarter, the division's order backlog was EUR 299.4 million, 51.9 percent higher than the EUR 197.1 million reported on March 31, 2011. At the end of the first quarter of 2012, the Systems division's order backlog was EUR 688.7 million, 35.2 percent higher than the EUR 509.3 million reported on the prior year's record date, March 31, 2011.

KUKA GROUP – ORDER BACKLOG

in € millions

Overall, KUKA Group generated earnings before interest and taxes (EBIT) of EUR 21.9 million for the first quarter of 2012, versus EUR 14.7 million in Q1 /2011. EBIT margin (that is, EBIT over sales revenues) thus significantly exceeded the 5 percent threshold, ending at 6.0 percent. Both divisions contributed equally to this very satisfactory result. Robotics' EBIT in the first quarter of 2012 came in at EUR 15.9 million compared to EUR 10.0 million in Q1 / 2011. The division's EBIT margin of 10.4 percent exceeded the 10 percent threshold for the first time. The result was driven especially by the relatively high share of general industry and service sales. The Systems division contributed EUR 9.6 million to KUKA Group's EBIT compared to EUR 7.7 million in Q1/2011 and generated an EBIT margin of 4.4 percent. 5 10 15 20 25

KUKA GROUP – EBIT

Divisions

Robotics

KEy Figures

in Mio, €	3 months 2011	3 months 2012	Change
Orders received	183.1	264.7	44.6%
Order backlog (03 / 31)	197.1	299.4	51.9%
Sales revenues	136.0	152.8	12.4%
Gross profit	42.4	51.0	20.3%
in % of sales revenues	31.2%	33.4%	-
Earnings before interest and taxes (EBIT)	10.0	15.9	59.0%
in % of sales revenues	7.4%	10.4%	-
Earnings before interest, taxes, depreciation and
amortization (EBITDA)	13.0	19.4	49.2%
in % of sales revenues	9.6%	12.7%	-
300 Employees (03 /31)	2,489	2,913	17.0%

In the first quarter of 2012, the Robotics division's orders received again substantially beat the previous record set in the prior year's quarters Q1 / 2011 and Q2 2011. In total, orders for the first quarter of 2012 came in at EUR 264.7 million, up 44.6 percent from the EUR 183.1 million posted in Q1 / 2011. This delightful growth was driven primarily by unusually strong demand from the automotive industry: The division's orders received from automotive doubled from EUR 68.0 million in the first quarter of 2011 to EUR 137.1 million in the first quarter of 2012, a rise of 101.6 percent for the period under review. This growth was supported above 0 50 100 150 200

ROBOTICS – ORDERS RECEIVED

all by the first order releases from the Daimler AG blanket order received in 2011. But other core automotive sector customers also contributed to this excellent growth.

General industry orders also hit a new quarterly record, coming in at EUR 88.5 million. The result was slightly higher than the Q1/2011 posting of EUR 87.5 million. This performance is noteworthy in that Robotics receives most of its general industry orders in Europe. The plastics and foundry industries, as well as the food and beverage industry, placed an unusually high number of orders. In addition, the division received several larger orders, including one from Chinese systems integrator Huaheng, which bought over 300 robots for manufacturing construction machinery, and one from Siemens Healthcare for medical robots via KUKA Laboratories GmbH (see also press releases dated April 18, 2012 and February 6, 2012).

The strong demand for industrial robots also boosted the service business, which was able to book orders received totaling EUR 39.1 million in the first quarter of 2012, compared to EUR 27.6 million in Q1 / 2011. The rising orders received volume drove the service business sharply higher.

The service share of the division's total orders received remained steady at around 15 percent, while the automotive share went from 37.1 percent to 51.8 percent year-over-year and the general industry share declined accordingly, going from 47.8 percent to 33.4 percent.

The Robotics division's sales revenues were again very high in the first quarter 2012 and were driven primarily by profitable general industry and service orders. Overall, Robotics' invoices for robots and services totaled EUR 152.8 million in the first quarter of 2012. This is 12.4 percent more than the EUR 136.0 million billed in Q1/2011. Because Robotics' capacity utilization is currently high, order backlog also rose, from EUR 184.4 million at the end of 2011 to EUR 299.4 million as of March 31, 2012; an increase of EUR 115.0 million whithin one quarter with a high share of orders from automotive.

The Robotics division's earnings before interest and taxes (EBIT) in the first quarter of 2012 came in at EUR 15.9 million versus EUR 10.0 million in Q1/2011. The rise was driven mainly by the higher share of revenues from general industry and service and resulted in an EBIT margin of 10.4 percent, beating the 10 percent threshold. The division has thus for the first time in one quarter reached its target margin of 10 percent. However in subsequent quarters the automotive share could rise again.

New KR QUANTEC receives "red dot award"

The Design-Zentrum Nordrhein-Westfalen has been known for the famous "red dot award" handed out for outstanding product designs since 1955. Among other things, decisions are based on degree of innovation, functionality and ergonomics, as well as the environmental soundness of the submitted products. KUKA Robotics has won several awards in the past.

In total, 4,515 products were submitted this year. The Design-Zentrum Nordrhein-Westfalen awarded the coveted red dot prize to the KR 240 R3100 ultra K robot, which is part of the new KR QUANTEC series. Better yet, the larger KR 270 R2700 received the "red dot: best of best award" for top design quality. KUKA Robotics has been blending German engineering art with outstanding design for years. KUKA robots also demonstrate their technical sophistication visually.

ORDERS RECEIVED BY SEGMENT

Systems

Key Figures

in Mio, €	3 months 2011	3 months 2012	Change
Orders received	215.8	344.3	59.5%
Order backlog (03 /31)	509.3	688.7	35.2%
Sales revenues	204.7	219.8	7.4%
Gross profit	22.2	24.6	10.8%
in % of sales revenues	10.8%	11.2%	-
Earnings before interest and taxes (EBIT)	7.7	9.6	24.7%
in % of sales revenues 350	3.8%	4.4%	-
Earnings before interest, 300 taxes, depreciation and
amortization (EBITDA) 250	10.0	12.0	20.0%
in % of sales revenues	4.9%	5.5%	-
Employees (03 /31) 200	3,512	3,697	5.3%

In the first quarter of 2012, the Systems division reported record orders received. The automotive industry was again largely responsible for the growth: among others, the division received an order from Volvo in Sweden to build a complete assembly line for the new Volvo S 60 in Goteborg (see also press release dated February 28, 2012). The division's orders received for the first quarter of 2012 came in at EUR 344.3 million. This was 59.5 percent higher than the EUR 215.8 million in orders received generated in Q1/2011. 0 50 100

SYSTEMS – ORDERS RECEIVED

in € millions

The division's sales revenues were reported at EUR 219.8 million, which compares to EUR 204.7 million in Q1/2011. Systems continued to report very high capacity utilization, roughly the same level as in the prior quarter. Because orders received substantially exceeded sales revenues during the quarter under review, the division's order backlog rose further and reached EUR 688.7 million on March 31, 2012. This is EUR 143.7 million higher than the EUR 545.0 million posted in the first quarter of 2012. The Systems division's capacity utilization thus continues to be excellent for the current fiscal year.

SYSTEMS – SALES REVENUES

in € millions

In the first quarter of 2012, the division's earnings before interest and taxes (EBIT) came in at EUR 9.6 million versus EUR 7.7 million in Q1/2011. The resulting EBIT margin was 4.4 percent, compared to 3.8 percent in Q1/ 2011. EBIT margin thus improved significantly year-over-year.

KUKA Systems named "Supplier of the Year"

During the first quarter the division was named "Supplier of the Year 2011" by two key automotive industry customers. General Motors acknowledged KUKA Systems for outstanding performance in Europe, particularly at its Opel subsidiary. Shanghai Volkswagen presented the company with the silver medal for "Excellent Commercials".

Further progress made on internationalizing the value added chain

The main countries we are talking about here are Romania, Mexico and China. Step-by-step, the sites are being expanded to procure parts and to manufacture and assemble systems components. They will thus work closely with countries that have regional project responsibility. These are Germany, the United States and also China. The division is thus able to act independently in the three major regions of Europe, America and Asia and adapt its activities to regional market conditions.

During the first quarter, Systems pressed ahead with expanding these centers of expertise so that they could act as suppliers of standard components for regional projects. For example, the Romanian subsidiary quickly became an important link in the value added chain, with a satisfying quality and delivery reliability record. The Mexican subsidiary has already been acting as a supplier for KUKA in North America for some time. Expansion of the center of expertise in China is still in progress. Sourcing standard components from low-wage countries is a key part of the strategy to further reduce procurement costs in the systems business.

Technical Solutions offers services

At the same time, Systems is expanding its business activities and is already offering services to customers through its Technology Solutions segment. The range of services includes procuring replacement parts and servicing and maintaining machinery. Systems has thus added another lucrative activity to its product portfolio to meet market demand. The aim is to focus on expanding this concept internationally in 2012.

EARNIN GS POSITION , ASSETS AN D F INANCIAL POSITION

EARNINGS

KUKA Group's consolidated sales revenues in the first quarter of 2012 came in at EUR 367.3 million, the highest firstquarter result in 5 years. It is 12.5 percent higher than the prior year's EUR 326.5 million. Gross profit from sales was up disproportionately, rising EUR 13.1 million or 19.6 percent to EUR 79.9 million. The Group's gross margin grew accordingly and was up 1.3 percentage points to 21.8 percent. As in previous quarters, the growth was driven by the Robotics division. Thanks to the market mix change, gross margin was up 2.2 percentage points to 33.4 percent on increased sales of 12.4 percent. The Systems division's gross margin of 11.2 percent in the first three months of 2012 is 0.4 percentage points higher than during the same period last year. EUR 1.7 million of the Systems division's manufacturing costs were financing costs, the same as last year.

Overhead costs (sales, research and development and administration) totaled EUR 56.7 million versus EUR 50.2 million in Q1 / 2011. As a percentage of sales, overhead costs were thus at the same level as last year: 15.4 percent. Research and development costs declined slightly, falling to EUR 8.8 million from EUR 9.7 million. It should be noted here that KUKA is working intensively on the Group's technology focus, both in industrial and advanced robotics. Important projects are at the development stage and as a result the associated costs were capitalized. They will only impact earnings when they are amortized in subsequent periods. EUR 4.6 million were capitalized for internally generated intangible assets during the first quarter, which compares to EUR 0.4 million the year prior The net result of other operating expenses and income of EUR -3.1 million is roughly the same as last year's EUR -3.6 million. Here currency translation had a particularly strong impact, especially with respect to the US dollar, Brazilian real and Japanese yen.

Overall operating profit for the first three months of this year was EUR 20.1 million, which compares to EUR 13.0 million in the first three months of 2011. Adjusted for financing charges of EUR 1.8 million included in operating profit, up from EUR 1.7 million the year prior, earnings before interest and taxes (EBIT) came in at a very satisfactory EUR 21.9 million, up sharply from the prior year's EUR 14.7 million. EBIT margin was thus 6.0 percent compared to 4.5 percent last year. The positive trend established in 2011 has thus been extended.

	Q1  /  11	Q2  /  11	Q3  /  11	Q4  /  11	Q1  /  12
EBIT
(in EUR millions)	14.7	16.4	19.2	22.3	21.9
EBIT margin
(in percent)	4.5	4.9	5.2	5.5	6.0

Both divisions contributed to the higher EBIT margin. The Systems segment's EBIT margin improved from 3.8 percent to 4.4 percent, while the Robotics segment's rose from 7.4 percent to 10.4 percent.

EBITDA (earnings before interest, taxes and depreciation) came in at EUR 28.5 million, again sharply higher than the result of EUR 20.8 million achieved during the same period the year prior. Total depreciation in the first quarter of 2012 was EUR 6.6 million versus EUR 6.1 million at the same time last year. Of this total, Robotics' share was EUR 3.5 million, which compares to EUR 3.0 million a year earlier. Systems accounted for 2.4 million versus EUR 2.3 million the year prior, and the remaining area's share was EUR 0.7 million, down slightly from last year's EUR 0.8 million.

Net interest expense was EUR -3.1 million, an improvement of EUR 1.7 million from last year. This is largely the result of settling the convertible bond in November 2011. The interest due on the bond was EUR 1.3 million in Q1/2011. The net interest item includes EUR 4.7 million for interest on the convertible bond placed in 2010 million, unchanged from the year prior. Despite higher use of credit lines, EUR 158.9 million in Q1 / 2012 versus EUR 140.1 million in Q1 / 2011 as result of the expanded business volume, guarantee fees rose only slightly, to EUR 0.9 million, thanks to even better guarantee conditions. Accountingrelated reclassification of financing costs into operating profit had a positive impact on the net interest result; in Q1/2012 it came in at EUR 1.8 million versus EUR 1.7 million in Q1 / 2011. The share of interest for pensions was EUR 0.8 million, the same as last year. Also included is interest income associated with the financing lease for the KTPO pay-on-production contract in the United States.

Earnings before taxes (EBT) in the first three months of 2012 totaled EUR 17.0 million, more than double the prior year's EUR 8.2 million. Taxes paid during the period under review totaled EUR 6.2 million, versus EUR 2.8 million last year at the same time. The tax rate is 36.5%; last year it was 34.1 percent. Tax loss carry-forwards among the German consolidated companies were reduced as planned due to positive earnings contributions.

KUKA Group's earnings after taxes in the first quarter of 2012 jumped to EUR 10.8 million from EUR 5.4 million last year. Earnings per share improved accordingly, going from EUR 0.17 to EUR 0.32.

GROUP CONSOLIDATED INCOME STATEMENT (CONDENSED)

EUR millions	3 months 2011	3 months 2012
Sales revenues	326.5	367.3
EBIT	14.7	21.9
EBITDA	20.8	28.5
Earnings from financing activities	-4.8	-3.1
Taxes on income	-2.8	-6.2
Earnings after taxes	5.4	10.8

FINANCIAL POSITION

The significant improvement in the earnings situation is reflected in cash earnings, which consist of earnings after taxes adjusted for cash-neutral depreciation on fixed assets and intangible assets and other cash-neutral income and expenses. These came in at EUR 22.1 million, 5.7 million higher than the comparable prior year's number of EUR 16.4 million.

Cash flow from operating activities was EUR 11.7 million, which compares to EUR 0.5 million in Q1/2012. This reflects the steady increase in working capital as a result of the very satisfactory business growth in the first quarter. On December 31, 2011, trade working capital was EUR 274.6 million. It increased by an additional EUR 37.3 million to EUR 311.9 million to March 31, 2012. Receivables were up EUR 21.9 million, inventories up EUR 25.2 million and offsetting liabilities totaled EUR 9.8 million. Receivables from manufacturing orders were posted at EUR 221.9 million, EUR 27.6 million higher than the number reported on December 31, 2011. The rest of the increase in liabilities, EUR 13.8 million, was attributable mainly to the personnel area (e.g., accruals for vacations and Christmas bonuses). Overall, cash flow from operating activities rose to EUR 11.7 million despite the EUR 0.5 million businessvolume-driven increase in working capital compared to last year.

The company invested EUR 12.8 million in the first three months of 2012 compared to EUR 4.1 million in the Q1/2011. In addition to investment in property plant and equipment, especially machinery (CNC machining center, laser and friction welding machines), this reflects the increased investment in research and development and the associated increase in the intangible assets' share of investments. These are now at 46.9 percent compared to 26.8 percent in Q1 / 2011. Income from asset retirement during the reporting period was EUR 0.3 million versus EUR 0.1 million the year prior. Cash flow from investments was thus EUR -12.5 million compared to EUR -4.0 million in Q1/2011.

The improved cash flow from operating activities plus cash flow from investment activities resulted in a free cash flow of EUR -0.8 million, which compares to last year's EUR -3.5 million.

Cash flow from financing activities was reported at EUR -0.7 million, compared to EUR -1.4 million the year prior.

As of March 31, 2012, KUKA Group thus had cash and cash equivalents totaling EUR 167.0 million, compared to EUR 132.5 million in Q1/2011. Of the cash and cash equivalents of EUR 197.1 million recognized on the balance sheet dated March 31, 2011, EUR 64.6 million were earmarked to repay the convertible bond due in November 2011. The substantial increase in cash and cash equivalents compared to the prior year's equivalent period was driven primarily by the earnings improvement and the sale of treasury shares in May 2011.

KUKA Group's net debt; that is, liquid assets minus current and non-current financial liabilities, was EUR 38.4 million as of March 31, 2012, a slight improvement from the EUR 32.6 million reported on December 31, 2011.

CONSOLIDATED CASH FLOW (CONDENSED)

EUR millions	3 months 2011	3 months 2012
Cash earnings	16.4	22.1
Cash flow from operating activities	0.5	11.7
Cash flow from investing activities	-4.0	-12.5
Free cash flow	-3.5	-0.8

NET WORTH

On the asset side, non-current assets were almost unchanged from the EUR 297.3 million reported on December 31, 2011. The increase in assets of EUR 5.3 million was mainly offset by the lower receivables from the finance lease associated with the earlier redemption of the financing for the KTPO pay-on-production contract.

Current assets were sharply higher, especially receivables related to manufacturing orders and inventories. Further details are provided in the financial position section. In total, current assets as of March 31, 2012 were EUR 816.1 million, EUR 35.1 million higher than on December 31, 2011.

As of the record date, KUKA Group's total balance sheet rose from EUR 1,078.0 million on December 31, 2011 to EUR 1,113.4 million, up 3.3 percent.

Equity rose from EUR 252.4 million to EUR 261.5 million, driven by the earnings after taxes of EUR 10.8 million. Foreign currency effects and actuarial results from pension obligations reduced equity by EUR 1.7 million. The equity ratio is now 23.5 percent, compared to 23.4 percent on December 31, 2011.

Financial liabilities relate mainly to the corporate bond due November 2017.

Non-current liabilities rose from EUR 527.9 million on December 31, 2011 to EUR 555.4 million as of March 31, 2012, driven mainly by the aforementioned increase in other liabilities, as well as trade payables.

KUKA Group's working capital rose from EUR 98.9 million at the close of 2011 to EUR 114.1 million as of March 31, 2012, an increase of EUR 15.2 million. Further information hereto is outlined in the financial position section.

GROUP ASSETS

EUR millions	Dec. 31, 2011	Mar. 31, 2012
Total assets	1,078.0	1,113.4
Shareholders' equity	252.4	261.5
In percent of total assets	23.4 %	23.5 %
Net debt	32.6	38.4

Research and deve lopm ent

KUKA Group spent EUR 8.8 million on research and development in the first quarter of 2012, slightly less than the EUR 9.7 million spent in Q1/2011. Over 90 percent of the expenses were incurred by the Robotics division. The business unit boosted investments in new developments and enhancement of its existing products leading up to AUTO-MATICA 2012, the world's largest robot fair, which will be held in Munich from May 22 to 25, 2012. KUKA will unveil the rest of the KR QUANTEC family at the exhibition.

KUKA.CNC expands application spectrum for industrial robots

In the first quarter of 2012, KUKA Robotics also launched a new software package that clearly expands the range of applications for industrial robots. KUKA.CNC enables a robot's controller to execute CNC programs compliant with DIN standard 66025. This turns a robot into a machine tool with open kinematics and combines the advantages of an industrial robot with the benefits of CNC control.

Palletizing robots to be presented for the first time at Drupa

For the first time, the Robotics division will participate in the world's largest trade show for print media, to be held from May 3 to May 16, 2012 in Düsseldorf. On display will be the new KR QUANTEC series palletizing robot, which is a fast and gentle alternative, especially for loading bookbindery trimmers, palletizing commercial packages or automatically loading gluers. It can thus significantly speed up operating processes in this sector.

Employees

KUKA Group continued to hire in the first quarter of 2012 in order to process the increasing business volume. The number of contract workers in manufacturing was also higher. In total, the total number of salaried workers during this period was up 215 to 6,804 as of the end of the quarter. This compares to 6,192 on March 31, 2011. The increase was driven by higher orders - 118 persons were added at the Robotics division's two Hungarian factories, where control cubicles are assembled. Overall, the division's workforce expanded by 160 to 2,913. The total on March 31, 2011 was 2,489. The Systems division mainly added staff to KUKA North America's Technical Solutions division. The workforce expanded by 54 persons in the first quarter of 2012, bringing the total to 3,697, up from 3,512 on March 31, 2011. The total number of employees in other areas at the end of the quarter was 194, an increase of one person. 1000 2000 3000 4000 5000 6000 7000 8000

The number of contract workers employed by the company rose by 111, bringing the total from 1,078 on December 31, 2011 to 1,189 as of March 31, 2012. A year ago there were 950 contract workers on the company's payroll.

KUKA increasingly popular among students as an employer

In its fifth issue for 2012, Manager Magazin published the latest Trendence Institute survey, which included responses from 26,500 students at 130 German universities. KUKA moved from 58th place last year to number 48 in the list of the most attractive employers for engineers in Germany. The students were asked to choose their ten favorite employers from a list of 120 companies.

Risk and opportunity report

From an overall risk perspective, KUKA Group is primarily exposed to business performance and fiscal risks. The executive board is not aware of any individual or aggregated risks that could threaten the company's existence. Strategically and financially, the company is positioned to be able to take advantage of business opportunities. Please refer also to of the detailed report on pages 82 and following of the 2011 annual report.

Out look

The high capital spending on robot-based automation continues unabated globally. Especially the automotive industry continues to invest in expanding its capacity in the BRIC nations and in existing factories in Europe and the United States. Our general industry customers are also increasingly taking advantage of the benefits of robot-based automation to improve the quality of their products and lower their costs. KUKA benefited significantly from growth in its two key target markets.

KUKA has already reported impressive growth and disproportionately improved its profitability in the past two fiscal years as a result of the high capital spending by its automotive and general industry customers. The trend continued during the first quarter of 2012.

Given this framework, KUKA expects sales revenues of at least EUR 1.44 billion for fiscal 2012. Assuming unchanged general conditions, we expect to reach about EUR 1.5 billion. Based on this sales preview, we are forecasting an EBIT margin of 5.5 to 6.0 percent.

KUKA GROUP EMPLOYEES

KUKA and the capital market

Year kicks off with fireworks

At the start of 2012, German stock indices rallied sharply, especially shares of automotive companies and mechanical OEMs, which had been neglected by the markets in the second half of 2011 despite the excellent financial results companies had been reporting. The automotive sector was up 27% in January alone, and held that level until the end of the quarter. This unusual sector growth drove the DAX, Germany's index of thirty blue-chip stocks, up 17.8 percent overall in the first quarter of 2012, the best start since 1998 for Germany's lead index.

KUKA shares also rise sharply

KUKA's share price also rose sharply at the beginning of the year, tracking the indices, and supported by the excellent financial results reached a record for the quarter of EUR 17.75 on February 6, up 26 percent. Subsequently, KUKA's share price both outperformed (in February) and lagged (in March) the indices. Overall, the stock rose 13.9 percent between January 1 and March 31, 2012, while the MDAX was up 20.3 percent during the same period. KUKA shares were thus somewhat weaker than those of its peer group of listed mechanical OEMs and automotive subsuppliers, whose share prices increased in a range between 2 percent and over 50 percent.

Considerable free float

A large quantity of KUKA shares is free-floating. At the end of the first quarter of 2012, the free float remained steady at 75.6 percent. The following investors hold more than 3 percent of the company according to the mandatory disclosures they provided: Allianz Global Investors, Franklin Mutual Advisors (since February 22, 2012), Oppenheim Asset Management Services S.a.r.L. and Wyser-Pratte. At the end of the quarter, the fixed holdings of Grenzebach Group totaled 24.4 percent.

KUKA'S SHARE PRICE PERFORMANCE JANUARY 1 TO March 31, 2012*

INTERIM REPORT (CONDENSED)

G ROU P CONSOL IDATED INCOME STATEMENT

in € millions	3 months 2011	3 months 2012
Sales revenues	326.5	367.3
Cost of sales	-259.7	-287.4
Gross profit	66.8	79.9
Selling expenses	-20.2	-25.9
Research and development expenses	-9.7	-8.8
General and administrative expenses	-20.3	-22.0
Other operating income	13.1	12.5
Other operating expenses	-16.7	-15.6
Result from operating activities	13.0	20.1
Reconciliation to earnings before interest and taxes (EBIT)
Financing costs included in cost of sales	1.7	1.8
Earnings before interest and taxes (EBIT)	14.7	21.9
Net interest income	2.3	2.8
Net interest expense	-7.1	-5.9
Financial results	-4.8	-3.1
Earnings before tax	8.2	17.0
Taxes on income	-2.8	-6.2
Net result	5.4	10.8
thereof minority interests in profits	0.0	0.0
thereof shareholders of KUKA AG	5.4	10.8
Earnings per share (diluted/undiluted) in €	0.17	0.32

Statement of comprehensive income

in € millions	3 months 2011	3 months 2012
Earnings after taxes	5.4	10.8
Translation adjustments	-2.9	-0.9
Changes of actuarial gains and losses	2.4	-1.0
Deferred taxes on changes of acturial gains and losses	-0.5	0.2
Other comprehensive income	-1.0	-1.7
Comprehensive income	4.4	9.1
of which: attributable to minority interests	0.0	0.0
of which: attributable to shareholders of KUKA AG	4.4	9.1

CONSOLIDATED CASH FLOW STATEMENT

in € millions	3 months 2011	3 months 2012
Net result	5.4	10.8
Depreciation/ amortization on intangible assets	2.5	2.5
Depreciation/ amortization on tangible assets	3.6	4.1
Other non-payment-related income	-2.4	-1.4
Other non-payment-related expenses	7.3	6.1
Cash Earnings	16.4	22.1
Result on the disposal of assets	0.0	0.0
Changes in provisions	-9.7	-1.6
Changes in current assets and liabilities:
Changes in inventories	-22.5	-25.8
Changes in receivables and deferred charges	-21.2	-12.6
Changes in liabilities and deferred charges (without debts)	37.5	29.6
Cash flow from operating activities	0.5	11.7
Payments from disposals of fixed assets	0.1	0.3
Payments for capital expenditure on intangible assets	-1.1	-6.0
Payments for investments on tangible assets	-3.0	-6.8
Cash flow from investing activities	-4.0	-12.5
Free cash flow	-3.5	-0.8
Payment for repaying liabilities due to banks and liabilities similiar to bonds	-1.4	-0.7
Cash flow from financing activities	-1.4	-0.7
Payment-related change in cash and cash equivalents	-4.9	-1.5
Exchange-rate-related and other changes in cash and cash equivalents	-1.4	-0.3
Change in cash and cash equivalents	-6.3	-1.8
(of that net increase /decrease in restricted cash)	(-4.4)	0.0
Cash and cash equivalents at the beginning of the period	134.4	168.8
Cash and cash equivalents at the end of the period	132.5	167.0
Restricted cash	64.6	0.0
Cash and cash equivalents acc. to balance sheet	197.1	167.0

Group BaLance Sheet

ASSETS

in € millions	12 / 31 / 2011	03 / 31 / 2012
Non-Current assets
Fixed assets
Intangible assets	78.8	82.2
Tangible assets	87.6	89.5
Financial investments and investments in associates	0.2	0.2
	166.6	171.9
Long-term finance lease receivables	75.7	72.1
Long term tax receivables	7.6	7.8
Other long-term receivables and other assets	12.1	10.7
Deferred taxes	35.0	34.8
	297.0	297.3
Current assets
Inventories	195.4	220.6
Receivables and other assets
Trade receivables	145.5	139.8
Receivables from construction contracts	194.3	221.9
Current finance lease receivables	4.6	4.6
Current tax receivables	6.0	5.3
Other assets, prepaid expenses and deferred charges	66.4	56.9
	416.8	428.5
Cash and cash equivalents	168.8	167.0
	781.0	816.1
	1,078.0	1,113.4

EQUITY AND LIABILITIES

in € millions	12 / 31 / 2011	03 / 31 / 2012
Equity	252.4	261.5
Non-current liabilities, provisions and accruals
Non-current financial liabilities	194.0	194.2
Other non-current liabilities	13.3	12.0
Pensions and similiar obligations	70.4	70.8
Deferred taxes	20.0	19.5
	297.7	296.5
Current liabilities
Current financial liabilities	7.4	11.2
Trade payables	167.2	185.2
Advances received	67.1	68.1
Liabilities from construction contracts	93.4	85.2
Accounts payable to affiliated companies	0.1	0.1
Other current liabilities and deferred income	6.1	8.8
Provision for taxes	109.6	123.4
Other provisions	77.0	73.4
	527.9	555.4

1,078.0	1,113.4

CHANGES TO GROUP EQUITY

			Capital reserve	Treasury stock		Revenues reserves			Minority interests
in € millions	Number of shares out standing	Subscribed capital			Translation gains / losses	Actuarial gains and losses	Annual net income and other revenue reserves	Equity to sharehol ders		Total
01 /01/2012	33,915,431	88.2	67.5	0.0	-0.2	0.2	95.2	250.9	1.5	252.4
Comprehensive income					-0.9	-0.8	10.8	9.1	0.0	9.1
Other changes								0.0		0.0
03 / 31 / 2012	33,915,431	88.2	67.5	0.0	- 1.1	-0.6	106.0	260.0	1.5	261.5

	Revenues reserves
in € millions	Number of shares out standing	Subscribed capital	Capital reserve	Treasury stock	Translation gains / losses	Actuarial gains and losses	Annual net income and other revenue reserves	Equity to sharehol ders	Minority interests	Total
01 /01/2011	32,588,091	88.2	75.4	-27.9	-3.0	1.7	62.2	196.6	1.5	198.1
Comprehensive income					-2.9	1.9	5.4	4.4	0.0	4.4
Other changes			-0.5				0.5	0.0	0.0	0.0
03 / 31 / 2011	32,588,091	88.2	74.9	-27.9	-5.9	3.6	68.1	201.0	1.5	202.5

NOTES ON THE QUARTERLY REPORT (CONDENSED)

G ROU P SEGMENT REPORTIN G

	Robotics		Systems		KUKA AG and other companies		Reconciliation and consilidation		Group
in € millions	3 months 2011	3 months 2012	3 months 2011	3 months 2012	3 months 2011	3 months 2012	3 months 2011	3 months 2012	3 months 2011	3 months 2012
Group external sales revenues	121.8	147.7	204.5	219.5	0.2	0.0	-	-	326.5	367.3
as a % of Group sales revenues	37.3%	40.2%	62.6%	59.8%	0.1%	0.0%	-	-	100.0%	100.0%
Intra-Group sales	14.2	5.1	0.2	0.3	2.7	0.0	-17.1	-5.4	-	-
Sales revenue by division	136.0	152.8	204.7	219.8	2.9	0.0	-17.1	-5.4	326.5	367.3
Result from operating activities	10.0	15.8	6.0	7.9	-2.9	-5.1	-0.1	1.5	13.0	20.1
Financing costs included in cost of sales	-	0.1	1.7	1.7	-	-	-	-	1.7	1.8
Earnings before interest and taxes (EBIT)	10.0	15.9	7.7	9.6	-2.9	-5.1	-0.1	1.5	14.7	21.9
as a % of sales revenu es of the division	7.4%	10.4%	3.8%	4.4%	-	-	-	-	4.5%	6.0%
as a % of Group exter nal sales revenues	8.2%	10.8%	3.8%	4.4%	-	-	-	-	4.5%	6.0%
EBITDA	13.0	19.4	10.0	12.0	-2.1	-4.4	-0.1	1.5	20.8	28.5
as a % of sales revenu es of the division	9.6%	12.7%	4.9%	5.5%	-	-	-	-	6.4%	7.8%
as a % of Group exter nal sales revenues	10.7%	13.1%	4.9%	5.5%	-	-	-	-	6.4%	7.8%
Assets (03/ 31 /2012 /	284.8	326.8	581.6	573.8	174.5	177.5	-174.4	-174.3	866.5	903.8
Payroll (03 / 31)	2,489	2,913	3,512	3,697	191	194	-	-	6,192	6,804

I F RS /  IAS ACCOUNTIN G STAN DAR DS

KUKA Aktiengesellschaft, headquartered in Augsburg, prepared its interim financial statements for the period ending March 31, 2012 in line with the IAS 34 Interim Financial Reporting guidelines as adopted by the European Union. The company elected to prepare a condensed version in accordance with this standard. The condensed interim report should be read in conjunction with the Group's consolidated financial statements to December 31, 2011.

The consolidated financial statements for 2011 were prepared according to the International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS) of the International Accounting Standards Board (IASB), the interpretations of the Standing Interpretation Committee (SIC) as well as the International Financial Reporting Interpretation Committee (IFRIC), as approved by the European Union, supplemented by the guidelines stipulated in Article 315a, paragraph 1 of the German Commercial Code (HGB).

SCOPE OF CONSOL IDATION

The Group interim report contains forty-eight companies, the same as at the end of the financial year 2011. In addition to KUKA Aktiengesellschaft, it includes six companies registered inside Germany and forty-one firms domiciled outside Germany, for which KUKA Aktiengesellschaft either directly or indirectly holds majority voting rights.

ACCOUNTIN G POL ICIES

The same accounting policies as those used for the consolidated financial statements for the business year ending 2011 were applied in preparing this consolidated interim report, with the exception of the changes described in the following. For further information, please refer to the consolidated financial statements dated December 31, 2011, which form the basis of the interim report presented here. The former are also available on the Internet at www.KUKA.com.

CHAN GES IN ACCOUNTIN G POL ICIES

The following new standards and interpretations have become mandatory since the start of the 2012 financial year:

• _ Amendments to IFRS 7 Financial Instruments: Disclosures – Transfers of Financial Assets
• _ Amendments to IFRS 1, Severe Hyperinflation and Removal of Fixed Dates *
• _ Amendment to IAS 12, Deferred Tax: Recovery of Underlying Assets *
• * Adoption (endorsement) by the European Union still pending

The new standards and interpretations have little or no effect on KUKA's consolidated financial statements.

EARNIN GS PER SHARE

Undiluted / diluted earnings per share break down as follows:

Undiluted earnings per share due to shareholders of KUKA Aktiengesellschaft were calculated as per IAS 33 on the basis of Group consolidated earnings after taxes and the weighted average number of shares outstanding for the year.

In the first three months of 2011, the weighted average number of shares in circulation was 32.6 million. The sale of treasury shares in May 2011 further increased the weighted average number of shares outstanding to 33.9 million in the first three months of 2012.

SHAREHOL DERS' EQUITY

DThe subscribed capital of KUKA Aktiengesellschaft totaling EUR 88,180,120.60 is subclassified into 33,915,431 no-par value bearer shares. Each share is equal to one vote.

The capital reserve applies to KUKA Aktiengesellschaft. The change compared to March 31, 2011 results from the scheduled repayment of the convertible bond in November 2011.

KUKA Aktiengesellschaft's Executive Board, with the approval of the Supervisory Board, decided in the second quarter of 2011 to sell the treasury shares. The shares were sold for EUR 18.60 each. After deducting the usual commissions, the company received EUR 23.7 million. Following the sale of the treasury shares, the total number of shares in circulation is 33,915,431.

IAS 1 9 EMP LOYEE BENE F ITS

As of March 31, 2012, the interest rate for accounting purposes used for employee benefits as per IAS 19 for consolidated companies is 4.5 percent p.a. (December 31, 2011: 4.70 percent in Germany; 4.40 percent in North America). This resulted in actuarial losses of EUR 1.2 million for the defined benefit obligation. The returns from external pension funds were higher than expected, with resulted in actuarial gains of EUR 0.2 million. The actuarial result was recognized directly in equity in the amount of EUR 0.8 million in consideration of deferred taxes.

		3 months 2011	3 months 2012
Net result attributable to shareholders of KUKA AG	in € millions	5.4	10.8
Weighted average number of shares outstanding	shares	32,588,091	33,915,431
Earnings per share	in €	0.17	0.32

SYN DICATED LOAN

To secure KUKA Aktiengesellschaft's financial structure a new syndicated loan agreement was concluded and a corporate bond valued at EUR 202.0 (nominal) was issued in November 2010.

The Syndicated Senior Facilities Agreement comprises EUR 200.0 million (EUR 50.0 million as a cash credit line and EUR 150.0 million as a guarantee line) and has a term until the end of March 2014.

The utilization of the guarantee line as of the key date totaled EUR 116.0 million (December 31, 2011: EUR 128.7 million); the existing working capital line was utilized in the amount of EUR 3.8 million (December 31, 2011: EUR 3.8 million).

For additional information about the Syndicated Senior Facilities Agreement, please refer to the December 31, 2011 consolidated financial statements.

CREDIT L INES F ROM SU RETY COMPANIES

The guarantee lines committed by surety companies are currently EUR 52.0 million; the same amount as on December 31, 2011. At the end of the first quarter, the Group had utilized EUR 38.1 million versus EUR 36.3 million on December 31, 2011.

ASSET-BACKED SECU RITIES P ROG RAM

As mentioned in the 2011 annual report, KUKA issued two ABS programs with a maximum amount of EUR 50.0 million. As of March 31, 2012, these have been utilized in the total amount of EUR 21.1 million (as of December 31, 2011: EUR 22.5 million).

For additional information on the ABS programs, please refer to the December 31, 2011 consolidated financial statements.

SEGMENT REPORTIN G

The internal reporting and organizational structure subdivides KUKA into the KUKA Robotics and KUKA Systems segments. Key financial indicators are determined for both segments. Earnings before interest and taxes (EBIT) is used as the key indicator in regard to managing segment profits.

The main elements of the segment reports are contained in the management report on the operating business divisions Robotics and Systems, as well as in the tables at the beginning of the notes to the quarterly report.

CASH F LOW STATEMENT

The cash flow statement shows changes to KUKA Group's liquidity position in accordance with IAS 7. Cash holdings include all cash funds recognized on the balance sheet, i.e. cash on hand, checks and cash balances with financial institutions, provided that they are available within three months. All cash and cash equivalents reported as at the balance sheet date are not subject to restrictions.

CONTIN GENT L IABI L ITIES AN D OTHER F INANCIAL OBL IGATIONS

There has been no material change in other financial obligations and contingent liabilities since December 31, 2011.

RE LATED PARTIES

There have been no changes in dealings with related persons or companies since December 31, 2011.

In total, the value of goods and services supplied to related parties in the first three months of the financial year was EUR 8.3 million. The goods and services received by the Group from related parties were worth EUR 5.0 million. As of March 31, 2012, receivables total EUR 7.7 million and liabilities EUR 0.7 million. The market oriented transfer prices are in accordance with the "dealing at arm's length" principle.

EVENTS OF MAJOR IMPORTANCE AF TER THE EN D OF THE REPORTIN G PERIOD

There were no events of material significance after the close of the reporting period.

Augsburg, May 8, 2012

The Executive Board

Dr Till Reuter Stephan Schulak

FINANCIAL CALENDAR 2012

MAY 9, 2012	FIRST-QUARTER INTERIM REPORT
JUNE 6, 2012	ANNUAL GENERAL MEETING, AUGSBURG
AUGUST 7, 2012	ANNUAL REPORT TO MID-YEAR
NOVEMBER 7, 2012	INTERIM REPORT FOR THE FIRST NINE MONTHS

This quarterly report was published on May 9, 2012 and is available in German and English from KUKA AG's Public / Investor Relations department. In the event of doubt, the German version applies.

Disclaimer

The Group interim 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.

CONTACT AND IMPRESSUM

kuka ag

Zugspitzstr. 140 86165 Augsburg Germany Phone: +49 821 797-0 Fax: +49 821 797-5333 kontakt@kuka.com

public / investor relations

Phone: +49 821 797-5251 Fax: +49 821 797-5333 ir@kuka.com

CREATED AND PREPARED BY

Whitepark GmbH & Co., Hamburg

www.kuka.com