thyssenkrupp AG — Earnings Release 2002

May 23, 2002

News Details

Ad-hoc | 23 May 2002 07:29

ThyssenKrupp AG english

THYSSENKRUPP IN THE 2ND QUARTER 2001/2002: ECONOMIC PRESSURE CONTINUES Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– IR Interim Results THYSSENKRUPP IN THE 2ND QUARTER 2001/2002: ECONOMIC PRESSURE CONTINUES The 2nd quarter of fiscal year 2001/2002 (January 01 to March 31, 2002) was still dominated by the economic slowdown, especially in Europe: – Income before taxes and minority interest, excluding goodwill amortization, was 96 million euros, 63 million euros lower than a year earlier. This includes a pre-tax disposal gain of 91 million euros. – Earnings per share were 0.13 euros(previous year 0.21 euros), after eliminating disposal gains normalized earnings per share were 0.01 euros (previous year 0.21 euros). – Net financial payables increased to 7.3 billion euros at March 31, 2002, this is 0.9 billion euros more than at September 30, 2001. The dividend payment also contributed to this increase. However, compared with March 31, 2001, the Group’s financial debt fell by 1.4 billion euros. OUTLOOK The forecast for the 2nd half of fiscal 2001/2002 has to be cautious. Although there are signs of an economic recovery, the situation on many markets remains very unstable. Consolidated sales in 2001/2002 will be lower than a year earlier due to the deterioration in the 1st half. Pre-tax earnings, excluding goodwill amortization, will be impacted by anticipated further restructuring charges of over 100 million euros in the 2nd half and will thus fall short of the previous forecast of 0.5 billion euros by this amount. However, this guidance figure does not include disposal gains, which totaled 114 million euros in the 1st half. Goodwill impairment arising from the adoption of SFAS 142 has not been included. This may, however, exceed the previous year goodwill amortization of over 200 million euros. The full interim report is available in German and English; both versions can be downloaded from the internet at http://www.thyssenkrupp.com. end of ad-hoc-announcement (c)DGAP 23.05.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: FOR FURTHER INFORMATION, PLEASE CONTACT DR. JÜRGEN CLAASSEN (COMMUNICATION, TEL. +49 211 824-36001) AND DR. MARTIN GRIMM (INVESTOR RELATIONS, TEL. +49 211 824-36464). ——————————————————————————– WKN: 750000; ISIN: DE0007500001; Index: DAX Listed: Amtlicher Handel in Frankfurt, Düsseldorf; Freiverkehr in Berlin, Bremen, Hamburg, Hannover, München, Stuttgart; London, Schweizer Börse 230729 Mai 02