thyssenkrupp AG — Earnings Release 2009

May 12, 2009

News Details

Ad-hoc | 12 May 2009 15:27

ThyssenKrupp AG: THYSSENKRUPP IN THE 1ST HALF 2008/2009 AND OUTLOOK FOR THE FULL FISCAL YEAR

ThyssenKrupp AG / Change in Forecast

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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THYSSENKRUPP IN THE 1ST HALF 2008/2009 AND OUTLOOK FOR THE FULL FISCAL YEAR
Business significantly impacted by economic collapse
Order intake and sales lower
Group earnings before taxes EUR(215) million
Negative full-year earnings expected

The economic fundamentals have deteriorated significantly in recent months.
The collapse in demand and sharply falling prices on the markets for carbon
and stainless steel and international materials services as well as
declines on the international auto markets and in civil shipbuilding
impacted ThyssenKrupp heavily. In the 1st half 2008/2009 ThyssenKrupp's
sales were down by 16% and orders by 25% year-on-year. The decline was
particularly severe in the 2nd fiscal quarter.

The Group's 1st half earnings before taxes also fell sharply to a loss of
EUR215 million. Earnings were impacted by major nonrecurring items totaling
EUR265 million, in particular pre-operating costs for the new plants in
Brazil and the USA of EUR109 million. The Company also incurred impairment
charges on property, plant and equipment and restructuring expenses.

Steel's earnings were still positive in both the 2nd quarter and the 1st
half, while Stainless returned a loss in both quarters. The 1st half
results of Stainless and Services were additionally impacted by writedowns
on inventories. Due to substantial charges at the shipyards and declining
business in the automotive and construction machinery sectors, Technologies
also recorded a loss in the 2nd quarter, though income for the first six
months was still positive. Elevator delivered a good earnings contribution;
profits increased in all business units. Services reported a loss for the
first half year.

Highlights for the 1st half 2008/2009:

• Order intake decreased by 25% to EUR20.5 billion (prior year:
  EUR27.4 billion).
• Sales fell by 16% to EUR21.4 billion (EUR25.5 billion).
• EBITDA came to EUR906 million, compared with EUR2,280 million a year
  earlier.
• Earnings before taxes amounted to EUR(215) million, down from
  EUR1,388 million.
• Earnings before taxes and major nonrecurring items amounted to
  EUR50 million (prior year: EUR1,499 million).
• Earnings per share dropped from EUR1.85 to EUR(0.35).
• Net financial debt at March 31, 2009 was EUR3,687 million. On
  September 30, 2008 we reported net financial debt of
  EUR1,584 million. On March 31, 2008 net financial debt stood at
  EUR1,988 million.

Highlights for the 2nd quarter 2008/2009:

• Order intake decreased by 46% to EUR7.6 billion (prior year:
  EUR14.1 billion).
• Sales fell by 25% to EUR9.9 billion (EUR13.2 billion).
• EBITDA came to EUR142 million, compared with EUR1,197 million in the
  corresponding prior-year period.
• Earnings before taxes amounted to EUR(455) million, down from
  EUR742 million.
• Earnings before taxes and major nonrecurring items amounted to
  EUR(283) million (prior year: EUR784 million).
• Earnings per share dropped from EUR1.00 to EUR(0.71).

ThyssenKrupp expects a significant drop in order intake and sales for full
fiscal year 2008/2009. This will be reflected in earnings. Positive effects
from falling input material prices, mainly in the 2nd half, will only
partly offset price and volume declines.

ThyssenKrupp expects to end the current fiscal year with a loss before
taxes and major nonrecurring items - restructuring expense, project costs
and impairment charges. Depending on future economic developments, a loss
before taxes and major nonrecurring items in the mid to high
three-digit-million euro range is expected. To counter the crisis,
ThyssenKrupp is implementing an extensive package of cost-cutting measures
in the current fiscal year. In addition, the Group is to undergo strategic
reorganization. These measures will make a key contribution to
significantly strengthening the Group's future earnings power. Targeted
steps are also being taken to significantly reduce net working capital.
Measures are being implemented to reduce or postpone the investment
program.

Online and downloadable versions of the full interim report are available
in German and English at http://www.thyssenkrupp.com.

Questions should be addressed to Dr. Jürgen Claassen (Communications,
Strategy & Technology, Tel. +49 211/824-36001) or Dr. Claus Ehrenbeck
(Investor Relations, Tel. +49 211/824-36464).
12.05.2009 Financial News transmitted by DGAP

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Language: English
Issuer: ThyssenKrupp AG
August-Thyssen-Str. 1
40211 Düsseldorf
Deutschland
Phone: +49-(0)211-824-1
Fax: +49-(0)211-824-36000
E-mail: info@thyssenkrupp.com
Internet: www.thyssenkrupp.com
ISIN: DE0007500001
WKN: 750000
Indices: DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), Düsseldorf;
Freiverkehr in Berlin, Hannover, Stuttgart, München, Hamburg;
Terminbörse EUREX

Weitere Informationen im Internet unter Investor Relations: Anleihen / Creditor Relations, Further information can be found on our website under Investor Relations: Bonds / Creditor Relations

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