Interim Report 11/12

ThyssenKrupp AG

9 months October 01, 2011 – June 30, 2012

Developing the future.

ThyssenKrupp in brief

Our employees in around 80 countries work with passion and expertise to develop solutions for sustainable progress. Their skills and commitment are the basis of our success.

For us, innovations and technical progress are key factors in managing global growth and using finite resources in a sustainable way. With our engineering expertise in the areas of "Material", "Mechanical" and "Plant", we enable our customers to gain an edge in the global market and manufacture innovative products in a cost- and resource-efficient way. Stammdaten der ThyssenKrupp Aktie ISIN (International Stock Identification Number) DE 000 750 0001 Börsenplätze Frankfurt (Prime Standard), Düsseldorf

The basis for this is responsible corporate governance geared towards long-term value growth. In an ever-changing business environment we are continuously evolving our company to enable us to meet the global challenges of the future with innovative solutions. Börsen Frankfurt, Düsseldorf TKA Reuters (Xetra-Handel) TKAG.DE Bloomberg (Xetra-Handel) TKA GY

ThyssenKrupp stock master data

ISIN (International Stock Identification Number)	DE 000 750 0001
Stock exchange	Frankfurt (Prime Standard), Düsseldorf
Symbols
Frankfurt, Düsseldorf stock exchange	TKA
Reuters (Xetra trading)	TKAG.DE
Bloomberg (Xetra trading)	TKA

ThyssenKrupp in figures 02

	1
Interim management report
Strategic development of the Group	03
Group review	05
Business area review	12
ThyssenKrupp stock	21
Innovations	22
Employees	23
Financial position	24
Subsequent events	27
Expected developments and
associated opportunities and risks	27

2 Condensed interim financial statements Consolidated statement of financial position 31 Consolidated statement of income 32

Consolidated statement of comprehensive income	33
Consolidated statement of changes in equity	34
Consolidated statement of cash flows	35
Selected notes to the consolidated financial statements	36

	3
Review report	45
	4
Further information
Report by the Supervisory Board Audit Committee	46
Contact	47

2012/2013 dates 47

This interim report was published on August 10, 2012.

ThyssenKrupp in figures

Group continuing operations

		9 months 2010/2011*	9 months 2011/2012*	Change	Change in %	3rd quarter 2010/2011*	3rd quarter 2011/2012*	Change	Change in %
Order intake	million €	34,309	31,905	(2,404)	(7)	12,984	10,231	(2,753)	(21)
Sales	million €	32,206	31,219	(987)	(3)	11,506	10,710	(796)	(7)
EBITDA	million €	2,363	1,562	(801)	(34)	944	659	(285)	(30)
EBIT	million €	1,245	339	(906)	(73)	549	296	(253)	(46)
EBIT margin	%	3.9	1.1	(2.8)	—	4.8	2.8	(2.0)	—
Adjusted EBIT	million €	1,266	339	(927)	(73)	570	122	(448)	(79)
Adjusted EBIT margin	%	3.9	1.1	(2.8)	—	5.0	1.1	(3.9)	—
EBT	million €	852	(133)	(985)	--	419	141	(278)	(66)
Adjusted EBT	million €	873	(133)	(1,006)	--	440	(33)	(473)	--
Income/(loss) (net of tax) (attributable to
ThyssenKrupp AG's shareholders)	million €	576	(220)	(796)	--	205	238	33	16
Basic earnings per share	€	1.24	(0.43)	(1.67)	--	0.44	0.46	0.02	5
Operating cash flow	million €	(396)	(526)	(130)	(33)	843	902	59	7
Free cash flow	million €	(2,032)	(988)	1,044	51	387	1,013	626	162
Employees (June 30)		171,086	155,588	(15,498)	(9)	171,086	155,588	(15,498)	(9)

Group including Stainless Global (discontinued operation)

		9 months 2010/2011*	9 months 2011/2012*	Change	Change in %	3rd quarter 2010/2011*	3rd quarter 2011/2012*	Change	Change in %
Order intake	million €	38,228	35,630	(2,598)	(7)	14,120	11,362	(2,758)	(20)
Sales	million €	36,487	35,409	(1,078)	(3)	12,851	12,116	(735)	(6)
EBITDA	million €	2,560	1,409	(1,151)	(45)	983	573	(410)	(42)
EBIT	million €	1,315	(434)	(1,749)	--	545	151	(394)	(72)
EBIT margin	%	3.6	(1.2)	(4.8)	—	4.2	1.2	(3.0)	—
Adjusted EBIT	million €	1,336	278	(1,058)	(79)	566	101	(465)	(82)
Adjusted EBIT margin	%	3.7	0.8	(2.9)	—	4.4	0.8	(3.6)	—
EBT	million €	904	(927)	(1,831)	--	407	(12)	(419)	--
Adjusted EBT	million €	925	(215)	(1,140)	--	428	(62)	(490)	--
Net income/(loss) (attributable to ThyssenKrupp AG's shareholders)	million €	626	(938)	(1,564)	--	212	109	(103)	(49)
Basic earnings per share	€	1.35	(1.82)	(3.17)	--	0.46	0.21	(0.25)	(54)
Operating cash flow	million €	(805)	(848)	(43)	(5)	709	871	162	23
Free cash flow	million €	(2,608)	(1,586)	1,022	39	198	889	691	349
Net financial debt (June 30)	million €	6,249	5,800	(449)	(7)	6,249	5,800	(449)	(7)
Total equity (June 30)	million €	10,840	9,088	(1,752)	(16)	10,840	9,088	(1,752)	(16)
Employees (June 30)		182,425	167,394	(15,031)	(8)	182,425	167,394	(15,031)	(8)

Business Areas

		Order intake (million €)		Sales (million €)		EBIT (million €)		Adjusted EBIT (million €)	Employees
	9 months 2010/2011*	9 months 2011/2012*	9 months 2010/2011*	9 months 2011/2012*	9 months 2010/2011*	9 months 2011/2012*	9 months 2010/2011*	9 months 2011/2012*	June 30, 2011	Sept. 30, 2011	June 30, 2012
Steel Europe	9,656	8,206	9,763	8,316	880	170	880	184	33,702	28,843	28,104
Steel Americas	856	1,628	775	1,587	(887)	(781)	(887)	(778)	3,995	4,060	4,236
Materials Services	11,150	10,009	10,995	9,922	397	72	397	222	35,440	36,568	27,945
Elevator Technology	3,984	4,582	3,864	4,099	469	365	469	421	45,603	46,243	46,656
Plant Technology	3,009	2,637	2,809	2,953	377	379	377	380	13,194	13,478	14,105
Components Technology	5,208	5,464	5,147	5,485	382	756	382	365	31,049	31,270	27,775
Marine Systems	2,730	1,409	1,202	880	192	(32)	192	140	5,398	5,295	3,781
Corporate	96	106	96	106	(319)	(324)	(298)	(328)	2,705	2,803	2,986
Consolidation	(2,380)	(2,136)	(2,445)	(2,129)	(246)	(266)	(246)	(267)	0	0	0
Continuing operations	34,309	31,905	32,206	31,219	1,245	339	1,266	339	171,086	168,560	155,588

	Order intake (million €)		Sales (million €)		EBIT (million €)		Adjusted EBIT (million €)
	3rd quarter 2010/2011*	3rd quarter 2011/2012*	3rd quarter 2010/2011*	3rd quarter 2011/2012*	3rd quarter 2010/2011*	3rd quarter 2011/2012*	3rd quarter 2010/2011*	3rd quarter 2011/2012*
Steel Europe	3,006	2,511	3,518	2,900	322	47	322	52
Steel Americas	504	413	429	543	(190)	(263)	(190)	(262)
Materials Services	3,973	3,235	3,980	3,369	149	(42)	149	92
Elevator Technology	1,320	1,575	1,298	1,429	151	134	151	147
Plant Technology	1,097	832	943	1,027	131	140	131	140
Components Technology	1,811	1,828	1,779	1,852	141	459	141	134
Marine Systems	2,155	456	479	294	62	23	62	23
Corporate	32	34	32	34	(120)	(106)	(99)	(107)
Consolidation	(914)	(653)	(952)	(738)	(97)	(96)	(97)	(97)
Continuing operations	12,984	10,231	11,506	10,710	549	296	570	122

* period ended June 30

As part of its strategic development program ThyssenKrupp is divesting its stainless steel and high-performance alloy business. As of September 30, 2011 the Stainless Global business area is therefore classified as a discontinued operation in accordance with IFRS. The continuing operations of the Group comprise the remaining seven business areas and Corporate.

Strategic development of the Group

Important progress achieved with strategic development program

ThyssenKrupp wants to position itself as a diversified industrial group in attractive growth markets and close to its customers worldwide. For this, the Executive Board decided on an integrated strategic development program to move ThyssenKrupp forward competitively and sustainably. Global trends such as demographic change, urbanization, globalization, climate change, and resource efficiency form the basis for developing new business opportunities. The strategy, which includes portfolio optimization, change management processes and performance enhancement measures, moved forward successfully in all three areas in the first 9 months of fiscal 2011/2012, achieving substantial progress:

Sale agreements have already been signed or closed for 90% of the sales volume up for disposal under the portfolio optimization measures. One important measure was the sale of the US iron foundry Waupaca – after the necessary approvals were obtained – to KPS Capital Partners. We achieved a significant disposal gain and cash inflow and thus generated value.
In addition to the launch of a Groupwide mission statement, the change management processes also include strengthening the regional organization to better utilize our opportunities on future growth markets. Pilot projects have been launched in North America, India, Japan and Turkey.
Measures under our corporate program impact are making a particular contribution to enhancing our performance and are expected to deliver a positive EBIT effect in excess of €300 million by the end of fiscal 2011/2012. Continuous benchmarking is one method used to maintain our focus on performance. The standardization of our IT infrastructure and harmonization of reporting processes are helping create the increased transparency essential for the efficient management of the Group. As an additional impact measure, the new synergize+program was launched in April 2012, aimed at achieving cost benefits in purchasing.

Review of strategic options for Steel Americas

The economic parameters for the Steel Americas business area have changed significantly since the strategy for an integrated network with the slab plant in Rio de Janeiro and the processing plant in Mobile, Alabama was developed. Strategic options in all directions are therefore being examined for both plants in parallel with further technical and commercial optimization. This may involve a partnership or a sale to a best owner whose strategy can better utilize the outstanding quality and fundamental competitiveness of the individual plants. The banks Goldman Sachs and Morgan Stanley were mandated to support the examination of the strategic options on June 27, 2012. The strategic review is being carried out with an open mind. Both plants will hold leading positions on their respective markets in terms of technology and conversion costs.

Portfolio further optimized

We continued to drive forward the strategic portfolio optimization in the first 9 months of fiscal 2011/2012:

The agreement to combine the Finnish stainless steel producer Outokumpu and Inoxum, the stainless steel arm of ThyssenKrupp, was signed on January 31, 2012. The conclusion of the transaction is subject to approval by the competent regulatory authorities. The EU Commission has now completed Phase I of the antitrust investigation and, as expected, moved on to an in-depth Phase II on May 21, 2012. We are confident that the transaction will be completed by the end of 2012. Until the closing, Inoxum and Outokumpu will continue to operate as independent competitors.
The sale of the Xervon group from the Materials Services business area to the industrial service provider REMONDIS was completed on November 30, 2011.
Components Technology sold the Brazilian Automotive Systems operations to a subsidiary of the automotive supplier Magna on December 06, 2011.
UK-based Star Capital Partners acquired the civil shipbuilding operations of the Marine Systems business area on January 31, 2012. The restructuring of our shipyards is now largely completed.
In the Components Technology business area, we completed the integration of the chassis operations of the Bilstein group and Presta Steering into ThyssenKrupp Chassis as planned in spring 2012, creating a major chassis fullservice provider with a global footprint and sales of around €3 billion.
The sale of the US iron foundry Waupaca from Components Technology to New York-based private equity company KPS Capital Partners was completed on June 29, 2012. With three plants in Waupaca and one in Marinette, Wisconsin, as well as facilities in Tell City, Indiana, and Etowah, Tennessee, the company is the largest independent iron foundry in the world. It employs 3,500 people in all three states and had sales of nearly US\$1.5 billion in the last fiscal year.
The disposal processes for the springs and stabilizers business at Components Technology and ThyssenKrupp Tailored Blanks at Steel Europe are being continued intensively.

In addition, targeted acquisitions were made to support the expansion of the Technologies businesses:

To improve its presence on the Asian coke plant market, the Plant Technology business area acquired the Tokyobased Otto Corporation on October 05, 2011.
Plant Technology also acquired London-based Energy & Power Global on July 02, 2012, an engineering consultancy serving clients worldwide in the oil, gas and energy industries. The acquisition strengthens ThyssenKrupp's international plant engineering activities.
The Elevator Technology business area strengthened its market position in the first 9 months of the fiscal year with acquisitions in North America and the purchase of equity interests in the Asian growth market.

impact on track

The success of numerous measures and initiatives reflects the mobilizing effect and high level of acceptance achieved by the corporate program impact throughout the Group. Through performance measures under the program, we are on track to achieve a positive EBIT effect of €300 million by the end of fiscal 2011/2012. Launched in 2011, the program comprises four initiatives: Customers & Markets, Performance & Portfolio, Innovation & Technology, and People & Development. That means impact is the sum of many activities and measures aimed at increasing the productivity, customer focus and innovativeness of the Company. The program is now established in all business areas.

As part of the impact initiative Performance & Portfolio, the new program synergize+ was launched in April 2012 to improve the performance of the Group's purchasing and supply management activities. It will sustainably reduce the cost of bought-in products and services.

Group review

EBIT in capital goods business remains high – materials business impacted by economy – overall positive earnings – net financial debt reduced

Due to the general economic weakness in the first 9 months of 2011/2012 (October 01, 2011 – June 30, 2012), order intake from ThyssenKrupp's continuing operations at €31.9 billion and sales at €31.2 billion fell short of the comparable prior-year figures. In our materials business, low volumes and prices resulted in weaker orders and sales. In the capital goods business, by contrast, order intake – taking into account a major order at Marine Systems in the prior-year period – and sales were very stable. Orders for elevators and escalators rose to new record levels. Including the discontinued operation Stainless Global, which operates under the name Inoxum, order intake in the first 9 months of 2011/2012 came to €35.6 billion, and sales to €35.4 billion.

Adjusted EBIT from continuing operations decreased to €339 million from €1,266 million a year earlier. With the exception of Steel Americas, all business areas reported positive adjusted EBIT. In the materials business, however, the €778 million loss at Steel Americas could not be offset by the other business areas Steel Europe and Materials Services. Adjusted EBIT from the materials businesses amounted to €(372) million. Our capital goods businesses achieved adjusted EBIT of €1,306 million, with the biggest contribution coming from Elevator Technology. Corporate costs and consolidation items amounted to €(595) million. Including Stainless Global, the Group's adjusted EBIT fell from €1,336 million to €278 million.

We made clear progress towards our goal of reducing net financial debt. Including Stainless Global, net financial debt was €5,800 million at June 30, 2012, down both year-on-year (June 30, 2011: €6,249 million) and quarter-on-quarter (March 31, 2012: €6,480 million). The quarter-on-quarter decrease was the result of reductions in inventories and the disposal of the US foundry Waupaca. Taking into account cash and cash equivalents and committed credit lines totaling €7,283 million as well as a balanced maturity structure, ThyssenKrupp is solidly financed.

The highlights for the first 9 months 2011/2012:

Order intake from continuing operations decreased year-on-year by 7% to €31.9 billion. Significant growth in the elevator business and components business was not quite enough to offset the declines in the materials business. Order intake in the 3rd quarter 2011/2012 fell by 12% quarter-on-quarter. The prior-year order intake included a €2 billion order at Marine Systems
Sales from continuing operations were 3% lower than a year earlier at €31.2 billion. Sales from the capital goods operations increased. 3rd-quarter sales rose by 1% quarter-on-quarter.
Adjusted EBIT from continuing operations came to €339 million, compared with €1,266 million a year earlier. At €122 million, the 3rd quarter figure was on a comparable level with the 2nd quarter, although Steel Americas posted a clear loss. With the exception of Steel Americas, all business areas delivered positive contributions both in the 3rd quarter and in the first 9 months.
EBIT from continuing operations was €339 million, down from €1,245 million in the prior-year period. EBIT margin declined from 3.9% to 1.1%.
Earnings per share from continuing operations decreased from €1.24 to €(0.43).

Economic environment still weak

The global economy is showing signs of persistent weakness. After falling to 3.3% last year, global GDP growth is likely to have slowed further in the 1st half of 2012, mainly affecting the industrialized countries.

The economic performance of the euro zone was particularly disappointing. GDP stagnated in the 1st quarter 2012. The countries of southern Europe hit particularly hard by the debt crisis reported negative growth rates. By contrast, the Germany economy was unexpectedly positive. Thanks to high exports, economic output increased by 0.5% quarter-onquarter. According to current estimates, Germany's GDP showed only slight growth in the 2nd quarter 2012, while the euro zone economy as a whole contracted slightly.

In the USA, GDP in the 1st quarter 2012 grew by 0.5% quarter-on-quarter on the back of higher industrial output and stronger consumer spending; 2nd-quarter growth was 0.4%. Following sharp falls in growth in the prior year, the Japanese economy recovered perceptibly; GDP grew by 1.2% in the 1st quarter 2012 and probably again in the 2nd quarter.

In the emerging countries, the previously mainly high growth rates slowed appreciably at the start of the year. Weaker export demand and lower housing investment dampened the pace of expansion in China, with quarter-on-quarter growth in the 1st and 2nd quarters slowing to 1.6% and 1.8% respectively. In Brazil, declining exports and stagnating industrial output resulted in low economic growth of 0.2% in the 1st quarter 2012.

Situation in the sectors mixed

Flat carbon steel – The weak economy also impacted the international steel markets. Global crude steel output increased by only 1% to 767 million tons in the 1st half 2012. The slower growth was mainly due to the lower pace of expansion in China compared with previous years; China's crude steel output rose just 2% to 357 million tons. Production in the USA expanded strongly by 8% to 46 million tons. By contrast, weaker steel demand led to production cutbacks in many other regions. The EU steel industry recorded a 5% decline to 89 million tons. Production in Germany was roughly 22 million tons in the 1st half 2012, a drop of 6% from the very high prior-year volume.

Demand on the European flat carbon steel market remained subdued. While moderate restocking resulted in a brief recovery in demand in the 1st quarter 2012, the weaker economy had an increasing impact on key customer industries in the months that followed. Distributors and end customers continued to place orders very carefully. Steel prices on the European spot markets, which rose strongly in the first three months of the year, came under pressure again in the 2nd quarter. Low steel prices and the weakening of the euro lessened import pressure. As a result, the European flat carbon steel producers suffered only comparatively moderate volume losses and were able to regain share in the declining EU market. The US flat carbon steel market recorded higher demand from key steel-using sectors, in particular the automotive and energy industries. However, high shipments by domestic producers and increasing imports led to oversupply, triggering a higher price drop than in Europe.

Automotive – The international automotive markets showed strong regional differences. In the USA, sales of cars and light trucks rose year-on-year by 15% to 7.2 million vehicles in the 1st half 2012 on the back of high replacement demand. The Japanese market also recovered strongly from the consequences of the natural disaster. The Chinese vehicle market likewise recorded high levels of new registrations. Sales rose by 20% to 7.2 million cars and light trucks in the 1st half 2012. By contrast, the Brazilian automotive market declined slightly.

In the European Union, new car registrations fell by 7% year-on-year to 6.6 million vehicles in the 1st half 2012. As a result of the debt crisis, sales fell particularly sharply in southern Europe. In Germany, new car registrations rose by 1% year-on-year to 1.63 million. Exports slipped by 1% to 2.16 million units, and car production also dropped by 1% to 2.84 million units. The heavy truck market recently showed strong signs of slowing.

Machinery – The high prior-year growth rates on the machinery markets slowed, although China and the USA are expected to report further production increases in the 1st half 2012.

German machinery manufacturers increased their output in the 1st half 2012, but only thanks to high orders in hand. New orders in the same period fell by 7%. Demand for elevators and escalators was also lower year-on-year. New business in the German plant engineering industry in the first few months of 2012 fell to its lowest level since mid 2009.

Construction – The construction industry in the industrialized countries remained generally weak in the 1st half 2012. Although the US real estate market stabilized recently at a low level, there were further declines in the countries of southern Europe. Construction growth was higher in emerging countries such as China and India.

The German construction sector remained very robust. Orders rose appreciably in the year to date, particularly for housing construction, which profited from low interest rates and the uncertainties emanating from the financial markets.

Orders and sales impacted by the economy

In a continuing difficult economic environment, both orders and sales at ThyssenKrupp fell short of the prior-year figures.

ThyssenKrupp continuing operations in figures

	9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
million €	34,309	31,905	(7)	12,984	10,231	(21)
million €	32,206	31,219	(3)	11,506	10,710	(7)
million €	2,363	1,562	(34)	944	659	(30)
million €	1,245	339	(73)	549	296	(46)
%	3.9	1.1	—	4.8	2.8	—
million €	1,266	339	(73)	570	122	(79)
%	3.9	1.1	—	5.0	1.1	—
million €	852	(133)	--	419	141	(66)
million €	873	(133)	--	440	(33)	--

million €	576	(220)	--	205	238	16
€	1.24	(0.43)	--	0.44	0.46	5
million €	(396)	(526)	(33)	843	902	7
million €	(2,032)	(988)	51	387	1,013	162
	171,086	155,588	(9)	171,086	155,588	(9)

The continuing operations achieved order intake of €31.9 billion in the first 9 months 2011/2012, 7% down from a year earlier. Sales decreased by 3% year-on-year to €31.2 billion. In particular the materials business showed a weaker performance, with low volumes and prices resulting in declining orders and sales. In the capital goods business, by contrast, order intake – taking into account a major order at Marine Systems in the prior-year period – and sales were very stable. In the 3rd quarter 2011/2012, orders were 12% lower quarter-on-quarter, and sales 1% higher. Here again, the capital goods businesses performed significantly better.

Including Stainless Global, the Group's order intake fell slightly by 7% to €35.6 billion in the first 9 months 2011/2012, and sales by 3% to €35.4 billion.

in billion $\epsilon$
1st quarter		10.0
1st half		20.7
9 months		32.2
12 months		43.4
	2010/2011
1st quarter		9.9
1st half		20.5
9 months		31.2
	2011/2012

Adjusted EBIT positive

Adjusted EBIT margin from continuing operations decreased from 3.9% to 1.1%.

in million $\epsilon$
1st quarter		261
1st half		696
9 months		1,266
12 months	2010/2011	1,762
1st quarter		83
1st half		217
9 months	2011/2012	339

Including Stainless Global, the Group's adjusted EBIT slipped from €1,336 million to €278 million; adjusted EBIT margin fell from 3.7% to 0.8%.

EBIT from continuing operations affected by special items

EBIT from continuing operations in the reporting period came to €339 million; positive and negative special items offset each other. In the 3rd quarter, net positive special items contributed €174 million to EBIT from continuing operations. They included disposal gains at Components Technology from the deconsolidation of the US foundry Waupaca. This was partly offset by special items of €133 million in connection with the so-called rail cartel at Materials Services. There were also charges for restructuring costs, in particular at Elevator Technology.

Special items from continuing operations in million €

	9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
EBIT	1,245	339	(73)	549	296	(46)
+/- Disposal losses/gains	21	(404)	--	21	(355)	--
+ Restructuring expense	0	43	—	0	3	—

+ Impairment	0	191	—	0	0	—
+ Other non-operating expense	0	198	—	0	178	—
- Other non-operating income	0	(28)	—	0	0	—
Adjusted EBIT	1,266	339	(73)	570	122	(79)

Taking into account negative EBIT of €(769) million from Stainless Global, the Group's EBIT including discontinued operations was €(434) million. The reasons for this were €110 million special items at Stainless Global, mainly due to restructuring and impairment of the Nirosta melt shop, and €574 million fair value adjustments in connection with the carve-out of Stainless Global. Group EBIT margin including discontinued operations was (1.2)%.

Analysis of the statement of income

At €31,219 million, net sales from continuing operations in the first 9 months of fiscal year 2011/2012 were €987 million or 3% lower than in the corresponding prior-year period. The cost of sales from continuing operations decreased by only €60 million altogether; a mainly sales-related reduction in material expense was partly offset by a rise in fixed manufacturing costs. Gross profit from continuing operations decreased to €3,947 million, while gross margin dropped from 15% to 13%.

Research and development cost from continuing operations was 7% higher than in the corresponding prior-year period.

Selling expenses from continuing operations increased by €72 million, mainly due to higher expenses for sales-related freight and insurance charges. General and administrative expenses from continuing operations decreased by €44 million, mainly due to lower personnel expense.

The €15 million rise in other income from continuing operations was mainly the result of insurance recoveries. The €277 million increase in other expenses from continuing operations was caused particularly by goodwill impairment charges in connection with the sale of the civil operations of Blohm + Voss and expenses in connection with the rail cartel proceedings.

Other gains and losses attributable to continuing operations were €324 million higher than a year earlier. Gains on the disposal of the US foundry Waupaca, the Xervon group and the Brazilian Automotive Systems activities were recognized in the reporting period; these were partly offset by negative exchange rate effects from non-income taxes.

The €48 million increase in financing income was caused mainly by exchange rate effects in connection with finance transactions, partly offset by reduced interest income from financial receivables. The €94 million rise in financing expense from continuing operations mainly reflected exchange rate effects in connection with finance transactions and increased interest expense for financial debt.

The tax expense from continuing operations of €126 million resulted in an effective tax charge of (94.7)% in the first 9 months 2011/2012, mainly due to valuation allowances for deferred income tax assets.

After taking into account income taxes, the loss from continuing operations came to €259 million, a deterioration of €812 million from the prior-year period.

Including the €721 million after-tax loss from discontinued operations attributable to Stainless Global, there was a net loss of €980 million in the reporting period, compared with net income of €604 million in the prior year.

A net loss of €42 million was attributable to non-controlling interest in the reporting period, compared with a net loss of €22 million in the corresponding prior-year period. The €20 million increase related mainly to companies in the Components Technology business area hit by declining demand in the wind energy and infrastructure sectors in China.

Earnings per share based on the net income/loss attributable to the shareholders of ThyssenKrupp AG decreased yearon-year by €3.17 to €(1.82). Earnings per share from continuing operations declined by €1.67 to €(0.43).

Net financial debt and capital expenditure

We have made clear progress with our goal of reducing net financial debt. Net financial debt, including Stainless Global, was €5,800 million at June 30, 2012 and was therefore lower both year-on-year (June 30, 2011: €6,249 million) and quarter-on-quarter (March 31, 2012: €6,480 million). The decrease from the prior quarter resulted from the reduction of inventories and the disposal of the US foundry Waupaca. Taking into account cash, cash equivalents and committed credit lines totaling €7,283 million and our balanced maturity structure, ThyssenKrupp is solidly financed.

December 31			5,814
March 31		$+12%$	6,492
June 30		(4)%	6,249
September 30		(43)%	3,578
	2010/2011
December 31		$+66%$	5,937
March 31		$+9%$	6,480
June 30		$(10)\%$	5,800
	2011/2012

ThyssenKrupp invested a total of €1,481 million in the first 9 months 2011/2012, 24% less than a year earlier. €1,421 million was spent on property, plant and equipment and intangible assets, and €60 million on the acquisition of businesses, shareholdings and other financial assets. Excluding the major projects in Brazil and the USA, capital expenditures came to €1,089 million, compared with €757 million in the prior year.

Current issuer ratings

ThyssenKrupp has been rated by Moody's and Standard & Poor's since 2001 and by Fitch since 2003. In the 3rd quarter of the current fiscal year Standard & Poor's lowered our long-term rating from BB+ to BB. At Standard & Poor's our rating continues to be below investment grade. At Moody's and Fitch, however, our rating remains investment grade.

	Long-term rating	Short-term rating	Outlook
Standard & Poor's	BB	B	Negative
Moody's	Baa3	Prime-3	Negative
Fitch	BBB-	F3	Negative

Business area review

Steel Europe

Steel Europe in figures

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake	million €	9,656	8,206	(15)	3,006	2,511	(16)
Sales	million €	9,763	8,316	(15)	3,518	2,900	(18)
EBIT	million €	880	170	(81)	322	47	(85)
EBIT margin	%	9.0	2.0	—	9.2	1.6	—
Adjusted EBIT	million €	880	184	(79)	322	52	(84)
Adjusted EBIT margin	%	9.0	2.2	—	9.2	1.8	—
Employees (June 30)		33,702	28,104	(17)	33,702	28,104	(17)

The Steel Europe business area brings together the Group's flat carbon steel activities, mainly in the European market. Premium flat products are supplied to customers in the auto industry and other steel-using sectors. The range also includes products for attractive specialist markets such as the packaging industry.

Orders and sales lower

Order intake at Steel Europe in the first 9 months 2011/2012 was down 15% year-on-year at €8.2 billion. This was partly the result of a 9% decrease in order volumes; orders in the 3rd quarter in particular were significantly lower. The decline also reflects the disposal of the Metal Forming business, which was still included in the prior-year figures.

Sales fell by 15% to €8.3 billion. Apart from the disposal of Metal Forming, this was mainly due to a demand-related 9% drop in shipments to 9.1 million tons. Average selling prices improved slightly, against the market trend. The decline in sales came from major customer sectors such as cold-rollers. However, our shipments to the tube industry increased. Sales of electrical steel decreased for volume and price reasons.

Production cutbacks

Crude steel production including supplies from Hüttenwerke Krupp Mannesmann decreased by 13% to 8.9 million tons in the reporting period. The downstream rolling and coating operations were likewise operating below capacity. On account of the continued market weakness, blast furnace 9 which is currently shut down will not be restarted in the current fiscal year. With order intake at Steel Europe remaining weak, short-time working is being introduced at five locations from August 2012.

EBIT down sharply

Earnings before interest and taxes (EBIT) decreased by € 710 million to €170 million in the reporting period. EBIT margin slipped from 9.0% to 2.0%. The decline in earnings was mainly the result of weak volumes.

Steel Europe order intake		Steel Europe EBIT
in million $\epsilon$ , quarter on quarter rate of change		in million $\epsilon$ , quarter on quarter rate of change
Q ₁	2,929	Q ₁		258
Q ₂	3,721 $+27%$	Q ₂	$+16%$	300
Q3	3,006 (19)%	Q ₃	$+7%$	322
Q ₄	2,688 (11)%	Q ₄	(21)%	253
2010/2011		2010/2011
Q1	2,705 $+1\%$	Q1	(60)%	102
Q ₂	2,990 $+11\%$	Q2	(79)%	21
Q ₃	2,511 (16)%	Q3	$+124%$	47
2011/2012		2011/2012

Steel Americas

Steel Americas in figures

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake	million €	856	1,628	90	504	413	(18)
Sales	million €	775	1,587	105	429	543	27
EBIT	million €	(887)	(781)	12	(190)	(263)	(38)
EBIT margin	%	—	—	—	—	—	—
Adjusted EBIT	million €	(887)	(778)	12	(190)	(262)	(38)
Adjusted EBIT margin	%	—	—	—	—	—	—
Employees (June 30)		3,995	4,236	6	3,995	4,236	6

With its steelmaking and processing plants in Brazil and the USA the Steel Americas business area is tapping into the North American market for premium flat steel products. Strategic options for the business area are currently being examined with an open mind (see page 3).

Market position strengthened

In a difficult business environment, Steel Americas made progress in developing its customer and product mix in the first 9 months 2011/2012. We won more new customers in the pipe, agricultural and construction machinery sectors, and particularly in the automotive and tube industries applied to all major customers for certification for numerous products, already receiving first approvals. In the first 9 months 2011/2012 order intake (€1.6 billion) and sales (€1.6 billion) showed clear year-on-year improvements. We sold over 2.0 million tons of flat steel altogether on the North American market.

Difficult market environment and ramp-up weigh on EBIT

In the first 9 months 2011/2012 Steel Americas posted a loss of €781 million, €106 million lower than a year earlier. The main reason for the negative EBIT was the difficult business environment on the North American market with an unsatisfactory price level above all in service center business, which is particularly important for the startup. Steel prices were also impacted by the decline in the price of scrap, though this recently showed signs of stabilization. Earnings were also weighed down by considerable costs from high consumption of reducing agents due to the not yet efficient utilization of the blast furnaces and unscheduled shutdowns.

Further progress with production startup - coke oven battery C operating to plan

The integrated iron and steel mill near Rio de Janeiro produced around 2.5 million tons of slabs for supply to the US processing plant and Steel Europe in the reporting period. With coke oven battery C, the Brazilian site's final central unit was successfully commissioned. As a result, the technical ramp-up can be completed by the end of the current fiscal year, after which the optimization phase can begin. The startup of the final hot-dip galvanizing line in the USA will depend on market demand.

Valuation risks

With the decision by the Executive Board of ThyssenKrupp AG in May 2012 to review strategic options in all directions for the Steel Americas business area, a so-called "triggering event" pursuant to IAS 36 occurred in the 3rd quarter of the fiscal year, making it necessary to carry out an impairment test on the business area's carrying amounts. As of June 30, 2012 the carrying amounts to be tested amounted to €7,866 million, of which €6,871 million relates to property, plant and equipment.

Fair values less costs to sell are currently being calculated in accordance with the possible strategic options. Our current best estimate allows the conclusion that as things stand at present the carrying amounts of the Steel Americas business area could be essentially covered by the fair value less costs to sell. On this basis no valuation adjustments resulting from an impairment test under IAS 36 were made in connection with the Steel Americas business area in these interim financial statements. It cannot be ruled out that in the further course of the process, for example in the event of a sale, the carrying amounts of the business area might not be fully recoverable.

Steel Americas order intake	Steel Americas EBIT
in million $\epsilon$ , quarter on quarter rate of change	in million $\epsilon$ , quarter on quarter rate of change
84 Q1 268 $+219%$ Q2 504 $+88%$ Q ₃ 437 (13)% Q ₄	(378) Q1 (319) $+16%$ Q ₂ (190) $+40%$ Q3 (2, 258) Q ₄ 2010/2011
2010/2011 583 $+33%$ Q1 632 $+8%$ Q2 Q3 413 (35)% 2011/2012	(288) $+88%$ Q ₁ (230) $+20%$ Q ₂ Q3 (263) (14)% 2011/2012

Materials Services

Materials Services in figures

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake	million €	11,150	10,009	(10)	3,973	3,235	(19)
Sales	million €	10,995	9,922	(10)	3,980	3,369	(15)
EBIT	million €	397	72	(82)	149	(42)	--
EBIT margin	%	3.6	0.7	—	3.7	(1.2)	—
Adjusted EBIT	million €	397	222	(44)	149	92	(38)
Adjusted EBIT margin	%	3.6	2.2	—	3.7	2.7	—
Employees (June 30)		35,440	27,945	(21)	35,440	27,945	(21)

With 500 locations in 40 countries the Materials Services business area specializes in materials distribution including technical services.

Weak demand, increased price and margin pressure

Materials Services achieved sales of €9.9 billion in the first 9 months 2011/2012, down 10% from the corresponding prior-year period. Excluding the Xervon group divested in the 1st quarter, the decrease amounted to 6%.

The weakness of the market caused a drop in demand for metals. Except for the North America business, all sectors and regions were affected. For example warehouse sales of metals in Eastern Europe were lower year-on-year. Rolled steel and tubes sales were particularly impacted by the weak demand situation. The decline in prices and margins registered since the middle of last year continued unabated. In addition to warehouse business this also affected the international direct-to-customer and project business, especially in Europe. Plastics sales mirrored the weak performance of metals. This was true not only of the Southern European market but also of Germany and most Western European countries. Our materials and logistics operations for the aerospace sector continued to perform positively with a significant increase in sales.

Sales of metallurgical raw materials were impacted above all by production cutbacks in the steel industry. The decline in demand for coke was particularly severe; prices here fell even more steeply than for materials. Our steel mill services also felt the effects of reduced capacity utilization in the steel industry.

EBIT massively impacted by special items

Materials Services' EBIT dropped from €397 million to €72 million in the first 9 months. A key reason for this was the €103 million fine imposed by the Cartel Office in the 3rd quarter and provisions of €30 million in connection with the rail cartel proceedings. In addition, high price pressure and intense competition in the materials business as well as massive sales losses in raw materials distribution had a negative impact. Adjusted EBIT came to €222 million; adjusted EBIT margin fell from 3.6% to 2.2%.

Materials Services order intake		Materials Services EBIT
in million $\epsilon$ , quarter on quarter rate of change		in million $\epsilon$ , quarter on quarter rate of change
Q1	3,259	Q ₁		85
Q ₂	3,918 $+20%$	Q ₂	$+92%$	163
Q ₃	3,973 $+1\%$	Q ₃	(9)%	149
Q ₄	3,618 (9)%	Q ₄	(46)%	81
2010/2011		2010/2011
Q1	3,201 (12)%	Q ₁	(51)%	40
Q2	3,573 $+12%$	Q ₂	$+85%$	74
Q3	3,235 (9)%	Q3	$- -$	(42)
2011/2012		2011/2012

Elevator Technology

Elevator Technology in figures
--------------------------------	--	--	--

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake	million €	3,984	4,582	15	1,320	1,575	19
Sales	million €	3,864	4,099	6	1,298	1,429	10
EBIT	million €	469	365	(22)	151	134	(11)
EBIT margin	%	12.1	8.9	—	11.6	9.4	—
Adjusted EBIT	million €	469	421	(10)	151	147	(3)
Adjusted EBIT margin	%	12.1	10.3	—	11.6	10.3	—
Employees (June 30)		45,603	46,656	2	45,603	46,656	2

The Elevator Technology business area supplies passenger and freight elevators, escalators and moving walks, passenger boarding bridges, stair and platform lifts as well as service for the entire product range. Over 900 locations worldwide form a tight-knit sales and service network that keeps us close to customers.

Orders at record high, strong improvement in sales

Elevator Technology continued its successful business performance in the first 9 months 2011/2012. Orders reached a new all-time high, and sales showed a strong improvement.

Order intake increased by 15% year-on-year to €4.6 billion, driven by both the new installations business and the service and modernization activities. Above all on the Chinese and US markets, Elevator Technology significantly expanded its business volume, in particular with new installations. The level of business in Europe was stable overall.

Elevator Technology's sales were 6% higher at €4.1 billion. Service business continued to expand, while the modernization and new installations business also showed pleasing growth. Declining sales in Southern Europe were more than offset by very positive business in the Asia-Pacific region and the USA.

Adjusted EBIT €421 million

Elevator Technology achieved EBIT of €365 million in the reporting period, compared with €469 million a year earlier. Adjusted for special items – mainly restructuring costs – earnings came to €421 million. Adjusted EBIT margin was 10.3%. Earnings and margin performance were impacted by continued difficult market conditions in Southern Europe and a higher share of new installations. 3rd-quarter EBIT improved quarter-on-quarter by €16 million.

Growth and investment program adopted

To safeguard Elevator Technology's competitiveness moving forward, an extensive growth and investment program for the Neuhausen location was adopted in the 3rd quarter. In addition to the modernization of the production sites and optimization of processes, a new technology and customer center is to be built.

Elevator Technology order intake			Elevator Technology EBIT
in million $\epsilon$ , quarter on quarter rate of change			in million $\epsilon$ , quarter on quarter rate of change
Q1		1,306	Q ₁		171
Q ₂	$+4%$	1,358	Q ₂	(14)%	147
Q ₃	$(3)\%$	1,320	Q ₃	$+3%$	151
Q ₄	$(2)\%$	1,297	Q ₄	$+120%$	332
2010/2011			2010/2011
Q1	$+13%$	1,466	Q ₁	(66)%	113
Q2	$+5%$	1,541	Q ₂	$+4%$	118
Q ₃	$+2\%$	1,575	Q ₃	$+14\%$	134
2011/2012			2011/2012

Plant Technology

Plant Technology in figures

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake	million €	3,009	2,637	(12)	1,097	832	(24)
Sales	million €	2,809	2,953	5	943	1,027	9
EBIT	million €	377	379	1	131	140	7
EBIT margin	%	13.4	12.8	—	13.9	13.6	—
Adjusted EBIT	million €	377	380	1	131	140	7
Adjusted EBIT margin	%	13.4	12.9	—	13.9	13.6	—
Employees (June 30)		13,194	14,105	7	13,194	14,105	7

The Plant Technology business area is a leading provider of specialized engineering and construction services with strong innovative capabilities. The product portfolio includes chemical plants and refineries, equipment for the cement industry, innovative solutions for the mining and extraction of raw materials, and production systems for the auto industry. The business area's equipment and processes open up new possibilities for environmental protection and sustainability.

Continued strong orders and sales

The business area held up well in a tight market. New orders worth €2.6 billion were won in the first 9 months. However, owing to the deferral of projects in North Africa, the tight situation on the financial markets and difficulties with project financing, Plant Technology was unable to match the high level of the prior year. Demand remained pleasingly strong for production systems for the automotive industry and products for the minerals and mining sector. Among other things for example the mining business won supply and service contracts in Kazakhstan.

In the first 9 months 2011/2012, Plant Technology's sales were 5% higher than a year earlier at €3.0 billion.

The high order backlog of €6.3 billion at June 30, 2012 continues to secure a good workload.

Earnings again at high level

The business area achieved EBIT of €379 million in the first 9 months 2011/2012, equaling the high level of the previous year. EBIT margin at 12.8% was only slightly lower year-on-year.

Plant Technology strengthened by acquisition

At July 02, 2012 Plant Technology acquired London-based Energy & Power Global. Energy & Power is an engineering consultancy with clients worldwide in the oil, gas and energy industries. The acquisition is part of the strategic development program adopted in May 2011 and is a further step in the systematic expansion of the technology business. It will strengthen ThyssenKrupp's engineering capabilities in the global oil and gas business.

Plant Technology order intake		Plant Technology EBIT
in million $\epsilon$ , quarter on quarter rate of change		in million $\epsilon$ , quarter on quarter rate of change
Q1	1,016	Q ₁	107
Q2	896 (12)%	$+30%$ Q2	139
Q3	1,097 $+22%$	Q ₃	131 (6)%
Q ₄	1,466 $+34%$	Q ₄	129 $(2)\%$
2010/2011		2010/2011
Q ₁	871 (41)%	(3)% Q ₁	125
Q2	934 $+7%$	Q ₂	114 (9)%
Q ₃	832 (11)%	$+23%$ Q ₃	140
2011/2012		2011/2012

Components Technology

Components Technology in figures

	9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
million €	5,208	5,464	5	1,811	1,828	1
million €	5,147	5,485	7	1,779	1,852	4
million €	382	756	98	141	459	226
%	7.4	13.8	—	7.9	24.8	—
million €	382	365	(4)	141	134	(5)
%	7.4	6.7	—	7.9	7.2	—
	31,049	27,775	(11)	31,049	27,775	(11)

The Components Technology business area supplies a range of high-tech components for general engineering, construction equipment and wind turbines. In the auto sector our activities are focused on crankshafts, camshafts, steering systems, dampers, springs, stabilizers and the assembly of axle modules.

Order intake and sales higher

Components Technology continued its successful performance in the first 9 months 2011/2012. Despite the sale of the chassis component manufacturer ThyssenKrupp Automotive Systems Industrial do Brasil, order intake increased yearon-year by 5% to €5.5 billion. Both the auto and truck component business and the construction equipment component business achieved growth. The wind energy business slowed due to the lack of grid connections and technical challenges in the offshore area. The US automotive business continued to show a very positive market performance. However, in Brazil demand for cars and trucks has been weaker since the beginning of the year. Despite falling vehicle sales in Europe overall, the business area profited from the growth of major customers and brisk demand in the mid-size and premium segments.

In line with the positive trend in orders, sales increased year-on-year by 7% to €5.5 billion.

Further rise in EBIT, portfolio optimized

Components Technology's EBIT in the first 9 months was significantly higher at €756 million. This figure includes positive special items relating to the sale of ThyssenKrupp Automotive Systems Industrial do Brasil and the US foundry Waupaca. Both disposals are part of the strategic development of ThyssenKrupp into a diversified industrial group.

Adjusted EBIT was down from the prior year at €365 million. The main reasons were weaker demand in the wind energy and infrastructure sectors in China and startup costs for new products and plants. Adjusted EBIT margin was 6.7%.

Components Technology order intake		Components Technology EBIT
in million $\epsilon$ , quarter on quarter rate of change		in million $\epsilon$ , quarter on quarter rate of change
Q1	1,602	Q1	127
Q2	1,795 $+12%$	Q2	114 $(10)\%$
Q ₃	1,811 $+1\%$	Q ₃	141 $+24%$
Q ₄ 2010/2011	1,713 (5)%	Q ₄ 2010/2011	161 $+14%$
Q1	1,778 $+4%$	Q ₁	169 $+5%$
Q ₂	1,858 $+4%$	Q ₂	128 (24)%
Q ₃ 2011/2012	1,828 $(2)\%$	Q ₃ 2011/2012	459 $+259%$

Marine Systems

Marine Systems in figures

		9 months ended	9 months ended		3rd quarter ended	3rd quarter ended
		June 30, 2011	June 30, 2012	Change in %	June 30, 2011	June 30, 2012	Change in %
Order intake	million €	2,730	1,409	(48)	2,155	456	(79)
Sales	million €	1,202	880	(27)	479	294	(39)
EBIT	million €	192	(32)	--	62	23	(63)
EBIT margin	%	16.0	(3.6)	—	12.9	7.8	—
Adjusted EBIT	million €	192	140	(27)	62	23	(63)
Adjusted EBIT margin	%	16.0	15.9	—	12.9	7.8	—
Employees (June 30)		5,398	3,781	(30)	5,398	3,781	(30)

After successful strategic reorganization, the Marine Systems business area is focused exclusively on naval shipbuilding. The business area's core activities include the development, construction and refit of submarines and naval surface vessels as well as extensive associated services.

Stable upward trend in order intake and sales

The market environment in naval shipbuilding is characterized by the need to protect international sea routes and sovereign territory. This led to demand for frigates and submarines in countries outside Europe. Marine Systems' order intake amounted to €1.4 billion in the reporting period; the higher prior-year figure included a major order worth around €2.0 billion. In the reporting period a further contract of comparable size was negotiated; there are good prospects of this being received in the 4th quarter.

In the first 9 months 2011/2012 Marine Systems achieved sales of €880 million. When comparing this with the prioryear figure of €1,202 million it should be noted that the civil shipbuilding activities are no longer included from February 2012 and that sales in the prior year were significantly influenced by one-time effects from the contractual agreement with Greece regarding the restructuring of the submarine contracts.

In the course of the first 9 months 2011/2012 orders in hand increased further, reaching €7.0 billion on June 30, 2012.

Adjusted earnings at good level

Marine Systems' EBIT came to €(32) million, down from €192 million a year earlier. Earnings in the reporting period were impacted by special items of €172 million, relating to impairment charges in particular on goodwill in connection with the sale of the civil shipbuilding operations. Adjusted EBIT remained at a good level of €140 million, and adjusted EBIT margin was 15.9%, compared with 16.0% the year before.

Marine Systems order intake	Marine Systems EBIT
in million $\epsilon$ , quarter on quarter rate of change	in million $\epsilon$ , quarter on quarter rate of change
426	46
Q ₁	Q ₁
149	84
(65)%	$+83%$
Q2	Q2
2,155	62
Q ₃	$(26)\%$
$++$	Q ₃
247	21
(89)%	(66)%
Q ₄	Q ₄
2010/2011	2010/2011
222	(116)
$(10)\%$	Q ₁
Q1	$- -$
731	61
Q ₂	Q ₂
$^{++}$	$^{++}$
456	23
(38)%	(62)%
Q ₃	Q ₃
2011/2012	2011/2012

Corporate at ThyssenKrupp AG

Corporate comprises the Group's head office including management of the business areas. It also includes the business services activities in the areas of finance, communications, IT and human resources, as well as non-operating real estate and inactive companies. Sales of services by Corporate companies to Group companies in the reporting period came to €106 million, up from €96 million a year earlier.

EBIT amounted to €(324) million, almost level with the €(319) million reported in the prior-year period. Adjusted EBIT came to €(328) million, compared with €(298) million in the first 9 months of the prior fiscal year.

Stainless Global (discontinued operation)

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake*	million €	4,633	4,281	(8)	1,360	1,291	(5)
Sales*	million €	5,047	4,812	(5)	1,586	1,606	1
EBIT	million €	66	(769)	--	0	(145)	—
EBIT margin	%	1.3	(16.0)	—	0.0	(9.0)	—
Adjusted EBIT	million €	66	(58)	--	0	(21)	—
Adjusted EBIT margin	%	1.3	(1.2)	—	0.0	(1.3)	—
Employees (June 30)		11,339	11,806	4	11,339	11,806	4

* including internal orders/sales within the Group

Stainless Global in figures

The discontinued operation Stainless Global produces premium stainless steel flat products and high-performance materials such as nickel alloys, titanium and zirconium.

Order intake and sales lower

Business at Stainless Global was weighed down by declining prices for important raw materials like nickel. Due to the lower raw material prices, alloy surcharges slipped and the value of new orders fell by 8% to €4.3 billion although volumes increased by 5% to 1.6 million tons. 1.8 million tons of stainless steel flat products and 32,000 tons of highperformance materials were produced. Prices for high-performance materials are many times higher than those for stainless products.

Total shipments were 4% higher year-on-year at 1.6 million tons. Despite this, sales decreased by 5% to €4.8 billion due to the generally lower price level and reduced alloy surcharges.

EBIT down from prior year

Following further fair value adjustments of €59 million in connection with the carve-out of Stainless Global, EBIT decreased from €66 million in the first 9 months of the prior year to €(769) million. EBIT margin dropped from 1.3% to (16.0)%. In addition, the generally weaker earnings situation was impacted by the continuing difficult market environment for stainless flat products and the associated price pressure. The reduced nickel price and restructuring provisions of €63 million in connection with the planned relocation of the Düsseldorf-Benrath site and the closure of the Krefeld steel plant also had a negative effect. The earnings figure also includes losses of €136 million at the new stainless mill being started up in the USA; this includes depreciation of €24 million which is not part of earnings from discontinued operations. The high-performance alloys business profited from the continued stable market situation for nickel alloys. Furthermore, with the classification as a discontinued operation, non-current assets are no longer depreciated. In the first 9 months of 2011/2012 this resulted in the absence of depreciation expenses of €143 million. However, impairment charges of €47 million were recorded, mainly for the Krefeld site.

Stainless steel mill in the USA on schedule

At the US site in Calvert construction work and the ramp-up of already commissioned equipment is continuing as planned. The ramp-up of the hot-rolled annealing and pickling line in the cold-rolling mill is almost complete. Construction work on the 1 million ton per year capacity melt shop is also proceeding on schedule; the start of production is scheduled for December 2012. Until the melt shop is ramped up the location will continue to be supplied with hot band and slabs from the European mills.

ThyssenKrupp including Stainless Global

ThyssenKrupp including Stainless Global in figures

		9 months ended June 30, 2011	9 months ended June 30, 2012	Change in %	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012	Change in %
Order intake*	million €	38,228	35,630	(7)	14,120	11,362	(20)
Sales*	million €	36,487	35,409	(3)	12,851	12,116	(6)
EBITDA	million €	2,560	1,409	(45)	983	573	(42)
EBIT	million €	1,315	(434)	--	545	151	(72)
EBIT margin	%	3.6	(1.2)	—	4.2	1.2	—
Adjusted EBIT	million €	1,336	278	(79)	566	101	(82)
Adjusted EBIT margin	%	3.7	0.8	—	4.4	0.8	—
EBT	million €	904	(927)	--	407	(12)	--
Adjusted EBT	million €	925	(215)	--	428	(62)	--
Net income/(loss) (attributable to
ThyssenKrupp AG's shareholders)	million €	626	(938)	--	212	109	(49)
Basic earnings per share	€	1.35	(1.82)	--	0.46	0.21	(54)
Operating cash flow	million €	(805)	(848)	(5)	709	871	23
Free cash flow	million €	(2,608)	(1,586)	39	198	889	349
Employees (June 30)		182,425	167,394	(8)	182,425	167,394	(8)

* including internal orders/sales within the Group

Including Stainless Global, the Group's order intake was 7% down from the prior year at €35.6 billion and sales were 3% lower at €35.4 billion. The Group's EBIT came to €(434) million, compared with €1,315 million a year earlier. EBIT margin decreased from 3.6% to (1.2)%.

ThyssenKrupp stock

The debt crisis in Europe and the associated uncertain macroeconomic expectations were key factors affecting the performance of the stock markets in the reporting period.

Viewed on the stock exchange as an early cyclical, ThyssenKrupp's stock profited in the 1st quarter 2011/2012 from signs of a resolution of the debt crisis and associated hopes of an economic recovery, but its performance in the 2nd and 3rd quarters was severely impacted by growing economic uncertainty. In addition, there was no substantial improvement in the earnings situation at Steel Americas. These factors completely overshadowed the considerable progress made by ThyssenKrupp in implementing its strategic development program, which international investors view very positively.

Subsequently the stock decoupled from the DAX and DJ STOXX: After a high of €22.86 on February 09, 2012, it stood at €12.84 on June 29, 2012, down around 30% from September 30, 2011. In the same period the DAX and DJ STOXX indices gained 16% and 14% respectively.

2012 employee stock program

In spring 2012 around 71,000 employees at the Group's German companies were again given the opportunity to buy ThyssenKrupp shares on special terms. Participation in the program reached 60%, a new record. One in two employees also participated in the previous programs between 2001 and 2011.

In total, approximately 634,000 shares were issued to employees this time. With a price of €17.21 per share each employee was able to purchase fifteen shares. The offer was based on the so-called 50/50 model: employees buy ThyssenKrupp shares worth up to €270 and receive a 50% allowance – i.e. up to €135 – from their employer. The 50% employer allowance is exempt from taxes and social security under German law (§ 3 No. 39 Income Tax Law, EStG).

Besides the program in Germany there are also employee stock programs in France, Spain and the UK, adapted in each case to local conditions.

Innovations

New TechCenter Carbon Composites strengthens materials competence

To strengthen the Group's materials competence in intelligent lightweight construction, ThyssenKrupp opened the TechCenter Carbon Composites in Dresden in the 3rd quarter 2011/2012. The new development center will expand the Group's competencies in carbon composites and interconnect and support Groupwide projects in all business areas. Carbon composites open up new and promising fields of application – for example through multi-material design in combination with innovative steel solutions. Over the next three years the Group will build capacities and test facilities for this in Dresden to look into the design, simulation and manufacture of carbon composite parts. The new materials will have applications in lightweight automobile construction and general industry. With its high-strength steels and sandwich composites ThyssenKrupp has been supplying key contributions for resource-friendly mobility for many years.

Premium electrical steels for solar sports car

Together with Bochum University, ThyssenKrupp engineers are developing a new type of motor for a solar-powered sports car. The use of premium electrical steels is intended to increase efficiency so the vehicle requires as little energy as possible. Soft-magnetic electrical steels from the Steel Europe business area are already used in the drive motors of many hybrid and electric vehicles. The partnership with the university is an ideal platform to study the interplay between power electronics and electrical steel as a motor material and evaluate the various factors affecting the overall performance of the vehicle. For the first time drive motors with electrical steel cores are to be fitted to all four wheels. A team of students will unveil the sports car in May 2013, and the acid test will come in October 2013 when it will race in the World Solar Challenge in Australia: 3,000 kilometers from north to south across the continent, powered only by the sun's rays.

Employees

ThyssenKrupp employed 155,588 people in its continuing operations on June 30, 2012, 15,498 or 9.1% fewer than a year earlier. The decline was due to restructuring measures and in particular to disposals in connection with the strategic portfolio optimization and affected the business areas Steel Europe, Materials Services, Components Technology and Marine Systems. Steel Americas, Elevator Technology and Plant Technology recruited new employees.

Compared with September 30, 2011 the number of employees decreased by 12,972 or 7.7%. The workforce in Germany decreased by 5,394 or 8.5% to 57,817; its share in the total workforce was 37%.

The workforce in the rest of the world totaled 97,771 at the end of June 2012, 7,578 or 7.2% fewer than on September 30, 2011. 21% of all employees were based in Europe outside Germany, 13% in the NAFTA region, 14% in South America, 14% in Asia – mainly in China and India – and 1% in the rest of the world.

Including Stainless Global, ThyssenKrupp had 167,394 employees worldwide at the end of June 2012, 15.031 or 8.2% fewer than a year earlier. Compared with September 30, 2011 the workforce decreased by 12,656 or 7.0%.

Against the background of continuing weak orders the Steel Europe business area introduced short-time working from August 2012. It will initially affect five sites. In previous weeks the lower capacity utilization rates of the plants had initially been offset using instruments such as flexible working-time accounts, leave accounts and repair shifts. The possibility of carrying out skill-upgrading programs during the period of short-time working is being examined together with the works councils.

Financial position

Analysis of the statement of cash flows

The amounts taken into account in the statement of cash flows correspond to the item "Cash and cash equivalents" as reported in the statement of financial position and also include the cash and cash equivalents relating to the disposal groups including the discontinued operations. For the reporting period and the corresponding prior-year period the discontinued operations comprise the activities of Stainless Global.

In the first 9 months 2011/2012 there was a net cash outflow from operating activities of €848 million, compared with €805 million in the prior year. Cash outflow from continuing operations increased by €130 million to €526 million. A major reason for this was the €783 million decrease in net income before impairment losses/reversals and before deferred taxes; in addition there was a €419 million higher reversal of gains on disposals of non-current assets, mainly relating to gains from the disposal of previously consolidated companies in the reporting period. This was partly offset by an €859 million decrease in funds tied up in operating assets and liabilities as well as proceeds of €168 million in the 3rd quarter 2011/2012 due to a change to the insolvency protection of partial retirement obligations. In the discontinued operations, operating cash flow improved by €87 million to €(322) million.

Cash outflow from investing activities decreased year-on-year by €1,065 million to €738 million. The continuing operations reported a €1,174 million decrease. The main reasons for this were €613 million lower capital expenditure for property, plant and equipment and €675 million higher proceeds from the disposal of previously consolidated companies – mainly the Xervon group, the Brazilian Automotive Systems activities and the US foundry Waupaca. In the discontinued operations cash outflow from investing activities increased by €109 million, mainly due to higher capital expenditure for property, plant and equipment.

Free cash flow, i.e. the sum of operating cash flows and cash flows from investing activities, was negative in both the continuing operations and the discontinued operations; however, the continuing operations recorded a significant improvement of €1,044 million from the prior year. Overall, free cash flow in the reporting period was €(1,586) million.

Cash inflow from financing activities in the continuing operations came to €498 million, €265 million higher than in the prior year. This increase resulted mainly from two offsetting effects. On the one hand net borrowings were €777 million higher, while on the other there was a cash outflow from other financing activities of €162 million, compared with a €253 million cash inflow in the prior year. The cash outflow of €415 million resulting from the change was mainly due to the reduction in liabilities to associated companies and the transfer to the factoring company of payments received from customers in respect of already sold receivables in the reporting period. Cash inflow from financing activities also decreased year-on-year due to higher dividend payments. In addition there were lower proceeds from non-controlling interest to equity; in the prior year proceeds from Vale S.A. to the equity of ThyssenKrupp Companhia Siderúrgica do Atlántico Ltda. were recognized here. In the discontinued operations there was a cash inflow from financing activities of €566 million, virtually unchanged from the prior-year period; both in the reporting period and in the corresponding prior-year period the financing activities of the discontinued operations mainly related to the integration of Stainless Global into the Group financing system. Overall, cash inflow from financing activities increased by €261 million to €1,064 million.

Analysis of the statement of financial position

Compared with September 30, 2011, total assets increased by €315 million to €43,918 million. This includes a currency translation-related increase of €1,296 million, mainly due to movements in the US dollar exchange rate.

Non-current assets increased by a total of €705 million; exchange rate effects alone resulted in an increase of €735 million. The €188 million rise in intangible assets was mainly due to exchange rate effects and higher goodwill in connection with acquisitions in the Elevator Technology and Plant Technology business areas. The €300 million net increase in property, plant and equipment was mainly due to €530 million currency translation effects; this was partly offset by the deconsolidation of the US foundry Waupaca. Deferred tax assets increased by €213 million; in addition to currency translation effects this was mainly caused by the increase in tax-deductible losses in Germany and abroad.

Current assets decreased overall by €390 million. Excluding exchange rate effects, which led to an increase of €560 million, there was a decrease of €950 million.

Inventories stood at €8,187 million on June 30, 2012, up €82 million from September 30, 2011. This increase was mainly due to currency translation effects.

Trade accounts receivable increased by €623 million. In addition to exchange rate effects, which caused an increase of €124 million, the ramp-up of the new steel plants and higher percentage completion rates on long-term construction contracts were the main reasons for the increase.

The €177 million decrease in other current financial assets was mainly due to the recognition of derivatives. Other current non-financial assets increased by €373 million, due in particular to higher refund entitlements in connection with taxes not based on income as well as increased advance payments for the procurement of inventories.

The €170 million decrease in cash and cash equivalents was mainly attributable to the high negative free cash flow from continuing operations of €(988) million in the reporting period; this was partly offset by the issue of a new €1,250 million bond in February 2012.

Assets held for sale decreased by €1,158 million to €4,603 million – mainly due to the sale of the civil operations of Blohm + Voss (€620 million) in the Marine Systems business area in the 2nd quarter 2011/2012 and the disposals of the Xervon group in the Materials Services business area (€451 million) and the Chinese operations of the Metal Forming group in the Steel Europe business area (€65 million) in November 2011. In addition there was a net reduction of €22 million at Stainless Global, where increases as a result of continuing operation were partly offset by impairment charges of €574 million based on the agreement with Outokumpu.

Total equity at June 30, 2012 was €9,088 million, down €1,294 million from September 30, 2011. The main factors in this were the net loss of €980 million, dividend payments of €284 million and the net actuarial losses from pensions and similar obligations (€500 million after taxes) recognized in other comprehensive income. This was partly offset by unrealized gains from foreign currency translation (€470 million) recognized in other comprehensive income.

Non-current liabilities increased by a net €344 million. This included a €556 million increase in accrued pension and similar obligations, which as well as exchange rate effects included a €757 million rise due to the updated interest rates used for the revaluation of pension and healthcare obligations at June 30, 2012; this was partly offset by the disposal of the US foundry Waupaca and plan changes. The €202 million decrease in deferred tax liabilities was mainly due to additional possibilities for offsetting against higher deferred tax assets. In addition, non-current financial debt decreased by a net €103 million. An increase in bonds from the above-mentioned bond issue in February 2012 was partly offset by €190 million lower liabilities to financial institutions. Further reductions resulted mainly from reclassifications to current financial debt, including €1,002 million in connection with a bond redeemable in February 2013 and €249 million for notes payable due in April 2013.

Current liabilities increased overall by €1,265 million; exchange rate effects accounted for €376 million of this.

The €227 million decrease in other current provisions was mainly due to the implementation of restructuring measures, provisions for selling, litigation and financing risks, and provisions in connection with CO2 emissions allowances. Current financial debt increased by €2,122 million; this included €872 million higher liabilities to financial institutions and €1,251 million for the above-mentioned reclassifications of a bond and notes payable.

Trade accounts payable decreased by €506 million; all continuing operations contributed to this. In the Components Technology business area the sale of the US foundry Waupaca was the main reason for the decline.

Other current financial liabilities decreased by €332 million, mainly due to the reduction of liabilities to associated companies and the accounting for derivatives. The €994 million increase in other current non-financial liabilities mainly reflected higher advance payments as well as exchange rate effects.

Liabilities associated with assets held for sale decreased by €724 million to €2,500 million, primarily due to the abovementioned disposals of the Xervon group (€397 million) and the civil operations of Blohm + Voss (€325 million).

Subsequent events

There were no reportable events.

Expected developments and associated opportunities and risks

Global economic growth remaining weak

Global economic growth will remain extremely weak over the rest of the year. The main causes of this are the continuing debt crisis in some industrialized countries and slower rates of growth in the emerging economies. After 3.3% last year, global economic growth is expected to drop below 3% in 2012, with the emerging countries expanding overall by 5.2% and the industrialized countries by only 1.4%. For 2013 we expect somewhat stronger economic momentum.

High sovereign debt, public spending constraints and cautious business spending will result in a 0.6% decline in GDP in the euro zone in 2012. The southern European countries in particular are in a recession. In Germany, economic growth of 0.5% is expected in view of the good labor market situation and rising consumer spending.

In the USA, economic growth could increase to over 2% in 2012. Positive impetus is coming mainly from consumer and business spending. In Japan, the catch-up process after the natural disaster last year will lead to an expansion of 2.4%.

In many emerging countries, the previously high growth rates have slowed appreciably. Nevertheless the BRIC nations will remain a pillar of the global economy in 2012. GDP growth of 7.8% is expected for China and 6.6% for India. Russia and particularly Brazil will likely record lower growth rates.

Sector activity mixed

Flat carbon steel – Against the background of the overall economic situation the short- to medium-term prospects for the steel markets have darkened further. Global finished steel demand is expected to grow by only 3% this year. Demand on the European market looks likely to fall by around 5%. A significant improvement in demand after the summer break is hardly to be expected. Steel demand in Germany will probably decline by around 4%. The US steel market is expected to stagnate in the further course of the year with an uncertain price trend. Steel demand will increase further in most of the emerging countries; we continue to expect a rise of around 4% for the Chinese market.

Automotive – The global auto market will continue to grow in 2012. Worldwide production of cars and light trucks is expected to increase by around 6% year-on-year to 78.3 million units. In the USA, production could rise by a further 12%, and in Japan catch-up demand will result in an estimated increase of 15%. In China, growth will fall to 9%. Western European auto production will probably decline by 6% in 2012. In Germany the production level will remain stable but because of statistical changes a decline of 4% will be reported.

Machinery – The machinery sector will not maintain its very high 2011 growth rates in 2012, with capital spending in several countries subdued. Growth could slow to 6% in the USA and 12% in China. Production in Japan is expected to rise by 2%. In Germany, production is forecast to stabilize at the high level of 2011.

Construction – Construction activity will continue to show regional differences in 2012. In Western Europe little more than stagnation is expected, while the prospects for some Central and Eastern European countries are brighter. The US construction industry could improve slightly. Construction activity in India and China will remain relatively strong with growth rates of 6% and 9% respectively.

Situation on important sales markets

	2011	2012*
Demand for finished steel, million tons
World	1,373	1,422
Germany	40.7	40.8
USA	89	94
China	624	649
Vehicle production, million cars and light trucks
World	73.8	78.3
Western Europe/Turkey	15.1	14.2
Germany**	6.1	5.8
USA	8.5	9.5
Japan	7.9	9.1
China**	16.0	17.5
Brazil**	3.1	3.1
Machinery production, real, in % versus prior year
Germany	12.1	0.0
USA	9.5	6.0
Japan	10.5	2.0
China	17.2	12.0
Construction output, real, in % versus prior year
Germany	13.4	1.7
USA	1.1	5.1
China	14.6	7.8

* Forecast ** different statistical basis for 2012: excl. CKD (complete knock-down kits)

Expected results of operations (continuing operations)

The consequences of the sovereign debt crisis have weakened our core markets in fiscal year 2011/2012; continuing economic uncertainties cannot be ruled out.

Based on the stability of our less cyclical capital goods operations as well as the positive earnings contributions of Steel Europe and Materials Services, we continue to expect to achieve adjusted EBIT in the mid three-digit million euro range at Group level for fiscal year 2011/2012.

Our expectations for the 4th quarter versus the 3rd quarter of the current fiscal year are as follows:

In the materials operations, we expect earnings at Steel Europe and Materials Services to remain steady with volumes and prices influenced by continuing intense competition. At Steel Americas, the further operational ramp-up should bring improvements; however, the price pressure due to the market entry and the general market situation will have a significant offsetting effect.
In the capital goods operations, earnings contributions at Plant Technology should remain largely steady at a high level. At Elevator Technology, further earnings effects due to the weakening of the markets in Southern Europe cannot be ruled out. In the Components Technology business, the absence of Waupaca's earnings contributions and lower capacity utilization rates mainly for slewing bearings for wind turbines will result in lower earnings. Earnings contributions at Marine Systems will remain steady.

For fiscal year 2012/2013:

Assuming that the sovereign debt crisis will continue to weigh down on economic activity but that the global economy will not enter a recession, we expect sales to continue at the level achieved in fiscal 2011/2012.
Improvements in earnings should result from structural changes during the further implementation of our strategic development program. This may include measures to achieve sustainable cost reductions or optimize the portfolio.
The deconsolidation of Steel Americas would contribute considerably to improving earnings.

Opportunities through growth in emerging countries

ThyssenKrupp can generate an edge in the global market with its innovative and resource-friendly products and processes. Particularly in the emerging countries we therefore see considerable growth opportunities given an improvement in the economic environment. In addition, through our corporate program impact we are implementing value-enhancing measures and increasing productivity on a sustainable basis in all areas of the Group.

Risks in the economic environment

The current economic environment and particularly the debt crisis in the euro zone and the uncertainties on the financial markets pose risks for a large part of our activities. Through systematic risk management we continuously monitor and evaluate our market prospects. This allows us to respond swiftly to current developments and contain our risks. There are no risks that could threaten the Group's ability to continue as a going concern.

ThyssenKrupp manages liquidity and credit risks proactively. The Group's financing and liquidity remain on a secure foundation in fiscal 2011/2012. At June 30, 2012 the Group had €7.3 billion in cash, cash equivalents and committed credit lines.

Credit risks (default risks) arise from the fact that the Group is exposed to possible default by a contractual party in relation to financial instruments, e.g. money investments. In times of crisis default risks take on additional significance; we manage them with particular care as part of our business policy. Financial instruments used for financing are traded with specified risk limits only with counterparties who have very good credit standing and/or who are members of a deposit guarantee scheme.

Further financial risks such as currency, interest rate and commodity price risks are reduced by the use of derivative financial instruments. Restrictive principles regarding the choice of counterparties also apply to the use of these financial instruments.

Our steel activities continue to operate in a difficult market environment, which involves risks for sales volumes and prices. Fluctuating raw material prices and rising energy prices represent further uncertainties for the business areas Steel Europe and Steel Americas. To secure our competitiveness we respond as far as possible with adjusted selling prices and alternative procurement sources. Close cooperation of all experts in the steel area is also helping increase and improve production at the new plants of Steel Americas.

However, the changed assessment of the strategic situation of the Steel Americas business area has made it necessary to review its carrying amounts. Fair values less costs to sell are currently being calculated in accordance with the possible strategic options. Our current best estimate allows the conclusion that as things stand at present the carrying amounts of the Steel Americas business area could be essentially covered by the fair value less costs to sell. On this basis no valuation adjustments resulting from an impairment test under IAS 36 were made in connection with the Steel Americas business area in these interim financial statements. It cannot be ruled out that in the further course of the process, for example in the event of a sale, the carrying amounts of the business area might not be fully recoverable.

The diversified business activities of ThyssenKrupp and our good and long-standing relationships with our global customers contribute to reducing our dependence on individual sales markets and sectors. Further expansion of our presence in fast-growing emerging economies will strengthen this effect.

We continuously monitor political developments in crisis regions and evaluate the effects on our current and planned business activities. If needed, we can respond swiftly to deteriorating conditions and so minimize our country-specific risks.

Changes to the legal framework at national or European level could entail risks for our business activities if they lead to higher costs or other disadvantages for ThyssenKrupp compared with our competitors. We support the related discussion process and reduce the corresponding risks through close working contacts with the relevant institutions.

Beyond this, the detailed information contained in the risk report on pages 108-119 of our 2010/2011 Annual Report is still valid.

We report on pending lawsuits, claims for damages and other risks in Note 8.

ThyssenKrupp AG Consolidated statement of financial position

Assets million €

	Note	Sept. 30, 2011	June 30, 2012
Intangible assets		4,166	4,354
Property, plant and equipment	03	12,649	12,949
Investment property		301	291
Investments accounted for using the equity method		593	618
Other financial assets		71	93
Other non-financial assets		453	420
Deferred tax assets		940	1,153
Total non-current assets		19,173	19,878
Inventories, net		8,105	8,187
Trade accounts receivable*		5,138	5,761
Other financial assets*		499	322
Other non-financial assets		1,563	1,936
Current income tax assets		134	171
Cash and cash equivalents		3,230	3,060
Assets held for sale	02	5,761	4,603
Total current assets		24,430	24,040
Total assets		43,603	43,918

Equity and Liabilities million €

	Note	Sept. 30, 2011	June 30, 2012
Capital stock		1,317	1,317
Additional paid in capital		4,684	4,684
Retained earnings		2,833	1,157
Cumulative other comprehensive income		178	589
thereof relating to disposal groups/discontinued operations (Sept. 30, 2011: (19); June 30, 2012: (2))
Equity attributable to ThyssenKrupp AG's stockholders		9,012	7,747
Non-controlling interest		1,370	1,341
Total equity	04	10,382	9,088
Accrued pension and similar obligations	06	6,940	7,496
Provisions for other employee benefits*		197	204
Other provisions*		451	537
Deferred tax liabilities		324	122
Financial debt		6,494	6,391
Other financial liabilities		1	1
Other non-financial liabilities		7	7
Total non-current liabilities		14,414	14,758
Provisions for employee benefits*		300	253
Other provisions*		1,200	973
Current income tax liablilities		409	394
Financial debt		178	2,300
Trade accounts payable*		4,926	4,420
Other financial liabilities*		1,238	906
Other non-financial liabilities		7,332	8,326
Liabilities associated with assets held for sale	02	3,224	2,500
Total current liabilities		18,807	20,072
Total liabilities		33,221	34,830
Total equity and liabilities		43,603	43,918

See accompanying selected notes.

* Prior year figure adjusted.

ThyssenKrupp AG Consolidated statement of income

million €, earnings per share in €

	Note	9 months ended June 30, 2011*	9 months ended June 30, 2012	3rd quarter ended June 30, 2011*	3rd quarter ended June 30, 2012
Net sales	10	32,206	31,219	11,506	10,710
Cost of sales	11	(27,332)	(27,272)	(9,697)	(9,345)
Gross profit		4,874	3,947	1,809	1,365
Research and development cost		(120)	(128)	(39)	(48)
Selling expenses		(2,006)	(2,078)	(692)	(693)
General and administrative expenses		(1,649)	(1,605)	(533)	(528)
Other income		157	172	46	70
Other expenses		(104)	(381)	(53)	(180)
Other gains/(losses)		23	347	(10)	310
Income/(loss) from operations		1,175	274	528	296
Income/(expense) from companies accounted for using the equity method		64	26	19	14
Finance income		663	711	220	333
Finance expenses		(1,050)	(1,144)	(348)	(502)
Financial income/(expense), net		(323)	(407)	(109)	(155)
Income/(loss) before income taxes		852	(133)	419	141
Income tax (expense)/income		(299)	(126)	(156)	76
Income/(loss) from continuing operations		553	(259)	263	217
Discontinued operations (net of tax)		51	(721)	7	(130)
Net income/(loss)		604	(980)	270	87
Attributable to:
ThyssenKrupp AG's stockholders		626	(938)	212	109
Non-controlling interest		(22)	(42)	58	(22)
Net income/(loss)		604	(980)	270	87
Basic and diluted earnings per share	12
Income from continuing operations (attributable to ThyssenKrupp AG's stockholders)		1.24	(0.43)	0.44	0.46
Net income/(loss) (attributable to ThyssenKrupp AG's stockholders)		1.35	(1.82)	0.46	0.21

See accompanying selected notes.

* Prior year figure adjusted.

ThyssenKrupp AG Consolidated statement of comprehensive income

million €

	9 months ended June 30, 2011	9 months ended June 30, 2012	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012
Net income/(loss)	604	(980)	270	87
Foreign currency translation adjustment
Change in unrealized gains/(losses), net	(317)	459	(119)	302
Net realized (gains)/losses	0	11	0	19
Net unrealized gains/(losses)	(317)	470	(119)	321
Unrealized gains/(losses) from available-for-sale financial assets
Change in unrealized gains/(losses), net	(3)	0	0	(1)
Net realized (gains)/losses	0	0	0	0
Tax effect	1	0	0	0
Net unrealized gains/(losses)	(2)	0	0	(1)
Actuarial gains/(losses) from pensions and similar obligations
Change in actuarial gains/(losses), net	781	(715)	(14)	(281)
Tax effect	(256)	215	5	85
Net actuarial gains/(losses) from pensions and similar obligations	525	(500)	(9)	(196)
Gains/(losses) resulting from asset ceiling
Change in gains/(losses), net	(41)	8	(15)	12
Tax effect	13	(2)	4	(3)
Net gains/(losses) resulting from asset ceiling	(28)	6	(11)	9
Unrealized (losses)/gains on derivative financial instruments
Change in unrealized gains/(losses), net	(100)	34	(38)	(33)
Net realized (gains)/losses	(80)	(43)	(5)	4
Tax effect	59	2	14	7
Net unrealized gains/(losses)	(121)	(7)	(29)	(22)
Share of unrealized gains/(losses) of investments accounted for using the equity-method	(23)	12	1	13
Other comprehensive income	34	(19)	(167)	124
Total comprehensive income	638	(999)	103	211
Attributable to:
ThyssenKrupp AG's stockholders	759	(1,023)	72	185
Non-controlling interest	(121)	24	31	26

See accompanying selected notes.

ThyssenKrupp Consolidated statement of changes in equity

million € (except number of shares)

		Equity attributable to ThyssenKrupp AG's stockholders
					Cumulative other comprehensive income
	Number of shares outstanding	Capital stock	Additional paid in capital	Retained earnings	Foreign currency translation adjustment	Available for-sale financial assets	Derivative financial instruments	Share of investments accounted for using the equity method	Treasury stock	Total	Non controlling interest	Total equity
Balance as of Sept. 30, 2010	464,394,337	1,317	4,684	3,703	127	5	50	10	(1,396)	8,500	1,888	10,388
Net income Other comprehensive				626						626	(22)	604
income Total comprehensive income				486 1,112	(246) (246)	(2) (2)	(93) (93)	(12) (12)		133 759	(99) (121)	34 638
Profit attributable to non-controlling interest										0	(34)	(34)
Dividend payment Treasury stock sold	609,865			(209) (1)					19	(209) 18	0 0	(209) 18
Tax effects on income and expense directly recognized in equity				2					(2)	0	0	0
Other changes				3						3	36	39
Balance as of June 30, 2011	465,004,202	1,317	4,684	4,610	(119)	3	(43)	(2)	(1,379)	9,071	1,769	10,840
Balance as of Sept. 30, 2011	514,489,044	1,317	4,684	2,833	170	2	(22)	28	0	9,012	1,370	10,382
Net loss				(938)						(938)	(42)	(980)
Other comprehensive income Total comprehensive				(496)	402	0	(5)	14		(85)	66	(19)
income				(1,434)	402	0	(5)	14		(1,023)	24	(999)
Profit attributable to non-controlling interest										0	(52)	(52)
Dividend payment				(232)						(232)	0	(232)
Other changes				(10)						(10)	(1)	(11)
Balance as of June 30, 2012	514,489,044	1,317	4,684	1,157	572	2	(27)	42	0	7,747	1,341	9,088

See accompanying selected notes.

ThyssenKrupp Consolidated statement of cash flows

million €

	9 months ended June 30,	9 months ended June 30,	3rd quarter ended June 30,	3rd quarter ended June 30,
Net income/(loss)	2011 604	2012 (980)	2011 270	2012 87
Adjustments to reconcile net income/(loss) to operating cash flows:
Discontinued operations (net of tax)	(51)	721	(7)	130
Deferred income taxes, net	(69)	(148)	12	(177)
Depreciation, amortization and impairment of non-current assets	1,150	1,257	407	375
Reversals of impairment losses of non-current assets	(2)	(1)	0	0
(Income)/loss from companies accounted for using the equity method, net of dividends received	(59)	(25)	(18)	(14)
(Gain)/loss on disposal of non-current assets, net	0	(419)	19	(359)
Changes in assets and liabilities, net of effects of acquisitions and divestitures and other non-cash changes:
- inventories	(1,890)	8	(506)	227
- trade accounts receivable	(592)	(716)	(13)	(218)
- accrued pension and similar obligations	(200)	(21)	(68)	119
- other provisions	(158)	(204)	(24)	(32)
- trade accounts payable	103	(470)	9	(5)
- other assets/liabilities not related to investing or financing activities	768	472	762	769
Operating cash flows - continuing operations	(396)	(526)	843	902
Operating cash flows - discontinued operations	(409)	(322)	(134)	(31)
Operating cash flows - total	(805)	(848)	709	871
Purchase of investments accounted for using the equity method and non-current financial assets	(26)	(12)	(4)	6
Expenditures for acquisitions of consolidated companies net of cash acquired	(45)	(41)	(1)	(2)
Capital expenditures for property, plant and equipment (inclusive of advance payments) and investment property	(1,662)	(1,049)	(437)	(306)
Capital expenditures for intangible assets (inclusive of advance payments)	(49)	(95)	(21)	(23)
Proceeds from disposals of investments accounted for using the equity method and non-current financial assets	16	6	4	5
Proceeds from disposals of previously consolidated companies net of cash acquired	13	688	(4)	425
Proceeds from disposals of property, plant and equipment and investment property	111	32	4	4
Proceeds from disposals of intangible assets	6	9	3	2
Cash flows from investing activities - continuing operations	(1,636)	(462)	(456)	111
Cash flows from investing activities - discontinued operations	(167)	(276)	(55)	(93)
Cash flows from investing activities - total	(1,803)	(738)	(511)	18
Proceeds from issuance of bonds	0	1,250	0	0
Repayment of bonds	(750)	0	0	0
Proceeds from liabilities to financial institutions	1,926	2,383	252	536
Repayments of liabilities to financial institutions	(711)	(2,178)	(533)	(991)
Proceeds from/(repayments on) notes payable and other loans	314	94	(169)	102
Increase/(decrease) in bills of exchange	(6)	2	(2)	1
Decrease in current securities	1	0	0	0
Proceeds from non-controlling interest to equity	34	0	2	0
Proceeds from treasury shares sold	7	0	6	0
Payment of ThyssenKrupp AG dividend	(209)	(232)	0	0
Profit attributable to non-controlling interest	(34)	(52)	(14)	(4)
Expenditures for acquisitions of shares of already consolidated companies	(1)	(17)	(1)	(2)
Financing of discontinued operations	(591)	(590)	(190)	(89)
Other financing activities	253	(162)	104	(5)
Cash flows from financing activities - continuing operations	233	498	(545)	(452)
Cash flows from financing activities - discontinued operations	570	566	189	130
Cash flows from financing activities - total	803	1,064	(356)	(322)
Net increase/(decrease) in cash and cash equivalents - total	(1,805)	(522)	(158)	567
Effect of exchange rate changes on cash and cash equivalents - total	3	49	13	3
Cash and cash equivalents at beginning of reporting period - total	3,673	3,568	2,016	2,525
Cash and cash equivalents at end of reporting period - total	1,871	3,095	1,871	3,095
[thereof cash and cash equivalents within disposal groups]	[232]	[-]	[232]	[-]
[thereof cash and cash equivalents within discontinued operations]	[-]	[35]	[-]	[35]
Additional information regarding cash flows of continuing operations from interest, dividends and income taxes which are included in operating cash flows:
Interest received	139	113	37	32
Interest paid	(487)	(456)	(155)	(159)
Dividends received	14	36	8	32
Income taxes paid	(246)	(300)	(85)	(98)

ThyssenKrupp AG Selected notes

Corporate information

ThyssenKrupp Aktiengesellschaft ("ThyssenKrupp AG" or "Company") is a publicly traded corporation domiciled in Duisburg and Essen in Germany. The condensed interim consolidated financial statements of ThyssenKrupp AG and subsidiaries, collectively the "Group", for the period from October 01, 2011 to June 30, 2012, were authorized for issue in accordance with a resolution of the Executive Board on August 07, 2012.

Basis of presentation

The accompanying Group's condensed interim consolidated financial statements have been prepared in accordance with section 37x para. 3 of the German Securities Trading Act (WpHG) and International Financial Reporting Standards (IFRS) and its interpretations adopted by the International Accounting Standards Board (IASB) for interim financial information effective within the European Union. Accordingly, these financial statements do not include all of the information and footnotes required by IFRS for complete financial statements for year end reporting purposes.

The accompanying Group's condensed interim consolidated financial statements have been reviewed. In the opinion of Management, the interim financial statements include all adjustments of a normal and recurring nature considered necessary for a fair presentation of results for interim periods. Results of the period ended June 30, 2012, are not necessarily indicative for future results.

The preparation of condensed interim financial statements in conformity with IAS 34 Interim Financial Reporting requires Management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.

The accounting principles and practices as applied in the condensed interim consolidated financial statements correspond to those pertaining to the most recent annual consolidated financial statements. A detailed description of the accounting policies is published in the notes to the consolidated financial statements of our annual report 2010/2011.

Recently adopted accounting standards

In fiscal year 2011/2012, ThyssenKrupp adopted the following standards, interpretations and amendments:

In November 2009 the IASB issued a revised version of IAS 24 "Related Party Disclosures". The revised standard simplifies the disclosure requirements for government-related entities and clarifies the definition of a related party. The application of the amended standard is compulsory for fiscal years beginning on or after January 01, 2011, while earlier application is permitted. The adoption of the amended standard did not have a material impact on the Group's consolidated financial statements.

In November 2009 the IASB issued an amendment to IFRIC 14, which is itself an interpretation of IAS 19 "Employee Benefits", titled "Prepayments of a Minimum Funding Requirement". The amendment applies in the limited circumstances when an entity is subject to minimum funding requirements and makes an early payment of contributions to cover those requirements. The amendment permits such an entity to treat the benefit of such an early payment as an asset. The application of the amended interpretation is compulsory for fiscal years beginning on or after January 01, 2011, while earlier application is permitted for 2009 year-end financial statements. The adoption of the interpretation did not have a material impact on the Group's consolidated financial statements.

In May 2010 the IASB issued the third omnibus standard "Improvements to IFRSs" as part of its annual improvement process project. This standard slightly adjusts six standards and one interpretation. Unless otherwise specified, the amendments are effective for fiscal years beginning on or after January 01, 2011, while earlier application is permitted. The adoption of the amended standards and interpretation did not have a material impact on the Group's consolidated financial statements.

In October 2010 the IASB issued amendments to IFRS 7 "Financial Instruments: Disclosures". The amendments will allow users of financial statements to improve the understanding of transfer transactions of financial assets. The application of the amendments is compulsory for fiscal years beginning on or after July 01, 2011, while earlier application is permitted. In the year of adoption comparative disclosure is not required. Currently, Management does not expect the adoption of the amendments in the notes as of September 30, 2012 to have a material impact on the presentation.

Recently issued accounting standards

In fiscal year 2011/2012, the following amendments to already existing standards have been issued which must still be endorsed by the EU before they can be adopted:

In October 2011 the IASB issued the IFRIC interpretation 20 "Stripping Costs in the Production Phase of a Surface Mine". The interpretation regulates the accounting for stripping costs in the production phase of a surface mine. The interpretation clarifies under which conditions an asset must be recognized for the relating stripping measures and how initial and subsequent measurement of this asset has to be determined. The interpretation is compulsory for fiscal years beginning on or after January 01, 2013; earlier application is permitted. Currently, Management does not expect the adoption of the interpretation – if endorsed by the EU in the current version – to have an impact on the Group's consolidated financial statements.

In December 2011 the IASB issued an amendment to IAS 32 "Financial Instruments: Presentation" which clarifies the requirements for offsetting financial assets and financial liabilities to eliminate existing inconsistencies in current practice. The amendment is compulsory for fiscal years beginning on or after January 01, 2014 and shall be applied retrospectively; earlier application is permitted. Currently, Management does not expect the adoption of the amendment – if endorsed by the EU in the current version – to have a material impact on the Group's consolidated financial statements.

In December 2011 the IASB issued an amendment to IFRS 7 "Financial Instruments: Disclosures" which requires disclosures in the context of certain offsetting arrangements. The obligation for disclosures has to be applied regardless of whether the offsetting arrangements result in any actual offsetting of the respective financial assets and financial liabilities. The new disclosure requirements shall simplify comparing financial statements prepared in accordance with IFRS and financial statements prepared in accordance with US GAAP. The amendment is compulsory for fiscal years beginning on or after January 01, 2013 and shall be applied retrospectively; earlier application is permitted. Currently, Management does not expect the adoption of the amendment – if endorsed by the EU in the current version – to have a material impact on the Group's consolidated financial statements.

In December 2011 the IASB issued amendments to IFRS 9 "Financial Instruments" and IFRS 7 "Financial Instruments: Disclosures" that defer the mandatory effective date of IFRS 9 from January 01, 2013 to January 01, 2015. In addition the amendment provides relief from the requirement to restate comparative financial statements for the effect of applying IFRS 9. Instead, additional transition disclosures have been added to IFRS 7 to help users of the financial statements to understand the effect that the initial application of IFRS 9 has on the classification and measurement of financial instruments. Earlier application of IFRS 9 is still permitted. Currently, Management is not able to finally assess the impact of adoption of IFRS 9 – if endorsed by the EU in the current version.

In May 2012 the IASB issued the fourth omnibus standard "Improvements to IFRSs" as part of its annual improvement process project. This standard slightly adjusts five standards. The amendments are effective for fiscal years beginning on or after January 01, 2013, while earlier application is permitted. Currently, Management does not expect the adoption of the amendment – if endorsed by the EU in the current version – to have a material impact on the Group's consolidated financial statements.

In June 2012 the IASB issued "Consolidated Financial Statements, Joint Arrangements and Disclosure of Interests in Other Entities: Transition Guidance" Amendments to IFRS 10, IFRS 11 and IFRS 12. The amendments clarify the transition guidance and provides transition reliefs for the before mentioned Standards. Such as IFRS 10, IFRS 11 and IFRS 12, the amendments are effective for fiscal years beginning on or after January 01, 2013, while earlier application is permitted. Currently, Management is not able to finally assess the impact of the adoption of IFRS 10, IFRS 11 and IFRS 12 – if endorsed by the EU in the current version.

01 Acquisitions and disposals

In August 2011, as part of the portfolio optimization, the Group initiated the disposal of the ThyssenKrupp Xervon Group in the Materials Services business area which was consummated in November 2011. The Xervon Group is one of the world's leading providers of technical services for industrial plant construction and maintenance. This disposal, the disposal of the Chinese activities of the Metal Forming Group that were initiated in April 2011 and consummated in November 2011, the disposal of ThyssenKrupp Automotive Systems Industrial do Brasil Ltda., the disposal of parts of the Marine Systems business area that were initiated in April 2010 and consummated end of January 2012, the disposal of Waupaca as well as other smaller disposals that are, on an individual basis, immaterial affected in total, based on the values as of the respective disposal date, the Group's consolidated financial statements as presented below:

	9 months ended June 30, 2012
Goodwill	19
Other intangible assets	10
Property, plant and equipment	384
Other financial assets	1
Deferred tax assets	7
Inventories	226
Trade accounts receivable	489
Other current financial assets	63
Other current non-financial assets	33
Current income tax assets	1
Cash and cash equivalents	140
Total assets disposed of	1,373
Accrued pension and similar obligations	306
Other non-current provisions	5
Deferred tax liabilities	11
Non-current financial debt	2
Other non-current financial liabilities	3
Other current provisions	54
Current income tax liablilities	8
Current financial debt	32
Trade accounts payable	243
Other current financial liabilities	175
Other current non-financial liabilities	244
Total liabilities disposed of	1,083
Net assets disposed of	290
Cumulative other comprehensive income	3
Non-controlling interest	7
Gain/(loss) resulting from the disposals	409
Selling prices	695
thereof: received in cash and cash equivalents	688

In addition in the first 9 months ended June 30, 2012, the Group acquired smaller companies that are, on an individual basis, immaterial. Based on the values as of the acquisition date, these acquisitions affected in total the Group's consolidated financial statements as presented below:

million €

	9 months ended June 30, 2012
Goodwill	74
Other intangible assets	22
Property, plant and equipment	3
Inventories	1
Trade accounts receivable	13
Other current financial assets	2
Other current non-financial assets	2
Cash and cash equivalents	8
Total assets acquired	125
Accrued pension and similar obligations	1
Deferred tax liabilities	1
Non-current financial debt	1
Current financial debt	1
Trade accounts payable	19
Other current non-financial liabilities	14
Total liabilities assumed	37
Net assets acquired	88
Non-controlling interest	0
Purchase prices	88
thereof: paid in cash and cash equivalents	80

02 Discontinued operations and disposal groups

As part of the portfolio optimization and of the decision about the concept for the further strategic development in May 2011, in fiscal year 2009/2010 as well as in fiscal year 2010/2011 the disposal of parts of the Marine Systems business area and the disposal of the entire Stainless Global business area have been initiated. While the parts of the Marine Systems business area were disposed of in the 2nd quarter of 2011/2012, the disposal of the Stainless Global business area is not consummated as of the balance sheet date.

The disposal of parts of the Marine Systems business area did not meet the requirements of IFRS 5 for a presentation as a discontinued operation. Therefore, revenues and expenses were continued to be presented as income from continuing operations until the date of the disposal on January 31, 2012. However the initiated disposal of the entire Stainless Global business area met the criteria for a presentation as a discontinued operation for the first time as of September 30, 2011. Therefore, all revenues and expenses of this business area of the reporting period will be presented in the consolidated statement of income in the line item "discontinued operations (net of tax)". The prior year presentation has been adjusted accordingly. For entities for which the disposal has not been completed as of the balance sheet date of the respective reporting period, the assets and liabilities of the disposal group and of the discontinued operation have been disclosed separately in the consolidated balance sheet of the reporting period in the line items "assets held for sale" and "liabilities associated with assets held for sale".

In April 2010 the disposal of parts of the Marine Systems business area has been initiated. The transaction comprises the disposal of Blohm + Voss Shipyards GmbH, operating in shipbuilding in particular of premium-segment yachts and of Blohm + Voss Repair GmbH and Blohm + Voss Industries GmbH, both engaged in ship repairing and the manufacturing of components. Additionally, the construction capacities for civil ship construction of former HDW Gaarden are part of the disposal group. In the year ended September 30, 2011, the civil part of former HDW Gaarden has been disposed of. Due to the termination of the negotiations with the Abu Dhabi MAR Group on the complete takeover of the civil shipbuilding activities and a joint venture in naval surface ship building, as of June 30, 2011, assets held for sale of €133 million and liabilities associated with assets held for sale of €145 million have been reclassified to the corresponding balance sheet positions. As of December 31, 2011 as already as of September 30, 2011, the sale of the civil operations of Blohm + Voss was part of the disposal group which was the yacht building and repair and components businesses in Hamburg. The valuation at fair value less costs to sell led to an impairment loss of €125 million on goodwill which was recognized in other expenses and impairment losses of €6 million on other intangible assets and of €24 million on property, plant and equipment which were recognized in cost of sales in the 1st quarter of 2011/2012.

Discontinued operation: Stainless Global business area

As part of its program for the further strategic development with the cornerstones to reduce the Group's debt, enable sustainable growth, create value and increase earning power, in May 2011 the Group decided to focuse the portfolio and to divest businesses for which there are stronger strategic alternatives.

Therefore as one measure, effective September 30, 2011, the corporate, organizational and contractual conditions for creating a separate Stainless Global and consequently the conditions for the firsttime presentation as a discontinued operation were established.

In the context with the initiated disposal, as of September 30, 2011 the measurement of discontinued operations at fair value less costs to sell based on internal calculations and market observations resulted in an impairment loss of €510 million. Thereof, €45 million applied to goodwill and the remaining impairment loss was allocated to property, plant and equipment. The expense is recognized in income/(loss) of discontinued operations of the 4th quarter of 2010/2011.

Based on the contract with Outokumpu about the intended sale, as of December 31, 2011 the measurement resulted in an impairment loss of €265 million that was allocated to property, plant and equipment. The updates of the measurement as of March 31, 2012 and as of June 30, 2012 resulted in an additional impairment loss of €250 million and of €59 million, respectively that were also allocated to property, plant and equipment. The expense is recognized in income/(loss) of discontinued operations of the respective quarter of 2011/2012.

The calculation of the share component of 29.9% of the new company was based on the rate of the Outokumpu share of February 02, 2012, May 08, 2012 and August 01, 2012 (€0.70), respectively. A change of the share rate of €0.01 results in a change of the value of approximately €6 million. Until the final fixing of the value ratios at the closing of the transaction, significant value fluctuations may occur.

Furthermore, due to the shut down of the Krefeld melt shop by the end of 2013, an impairment loss of €42 million on property, plant and equipment is recognized in income/(loss) of discontinued operations of the 2nd quarter of 2011/2012. In May 2012, Inoxum agreed with the relevant works council on a social plan in connection with the consolidation measures regarding the relocation of the Düsseldorf-Benrath facility and the connected personnel reduction. The social plan includes early retirement models and compensations for employees leaving Inoxum. Further, it includes compensations for employees being relocated. The social plan will apply accordingly to the planned closure of the Krefeld melt shop in the event the Inoxum transaction is completed. As of June 30, 2012 the overall costs in connection with that social plan have been recognized as a restructuring provision of €63 million in the aggregate for Düsseldorf-Benrath and Krefeld.

The results of the 9 months and of the 3rd quarter of the Stainless Global business area that classifies as a discontinued operation are as follows:

	9 months ended June 30, 2011	9 months ended June 30, 2012	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012
Net sales	4,496	4,366	1,405	1,462
Other income	21	18	11	4
Expenses	(4,465)	(4,604)	(1,428)	(1,559)
Ordinary income/(loss) from discontinued operations (before taxes)	52	(220)	(12)	(93)
Income tax (expense)/income	(1)	73	19	22
Ordinary income/(loss) from discontinued operations (net of tax)	51	(147)	7	(71)
Gain/(loss) recognized on measurement adjustments of discontinued operations (before taxes)	—	(574)	—	(59)
Income tax (expense)/income	—	—	—	—
Gain/(loss) recognized on measurement adjustments of discontinued operations (net of tax)	0	(574)	0	(59)
Discontinued operations (net of tax)	51	(721)	7	(130)
thereof:
ThyssenKrupp AG's stockholders	50	(718)	7	(129)
Non-controlling interest	1	(3)	0	(1)

On initial classification as a discontinued operation, non-current assets are no longer amortized and depreciated, therefore in the 9 months ended June 30, 2012, amortization and depreciation of €143 million were suspended; thereof €49 million refer to the 3rd quarter ended June 30, 2012.

The assets and liabilities of the discontinued operation as of June 30, 2012 are presented in the following table:

million €
-----------	--

	June 30, 2012
Other intangible assets	29
Property, plant and equipment	1,511
Investment property	12
Investments accounted for using the equity method	17
Other financial assets	2
Other non-financial assets	5
Deferred tax assets	179
Inventories	1,968
Trade accounts receivable	673
Other current financial assets	37
Other current non-financial assets	113
Current income tax assets	22
Cash and cash equivalents	35
Assets held for sale	4,603
Accrued pension and similar obligations	301
Provisions for other non-current employee benefits	22
Other non-current provisions	136
Deferred tax liabilities	92
Non-current financial debt	48
Other non-current non-financial liabilities	1
Provisions for current employee benefits	4
Other current provisions	54
Current income tax liabilities	12
Current financial debt	162
Trade accounts payable	1,403
Other current financial liabilities	116
Other current non-financial liabilities	149
Liabilities associated with assets held for sale	2,500

03 Property, plant and equipment

With the decision by the Executive Board of ThyssenKrupp AG in May 2012 to review strategic options in all directions for the Steel Americas business area, a so-called "triggering event" pursuant to IAS 36 occurred in the 3rd quarter of the fiscal year, making it necessary to carry out an impairment test on the business area's carrying amounts. As of June 30, 2012 the carrying amounts to be tested amounted to €7,866 million; thereof €6,871 million refer to property, plant and equipment.

04 Total equity

Due to the expiration of the existing and not yet used authorization to increase the capital stock by up to €500 million (Authorized Capital) on January 18, 2012, the Executive Board has been authorized again by the resolution of the Annual General Meeting on January 20, 2012, with the approval of the Supervisory Board, to increase the capital stock on one or more occasions on or before January 19, 2017 by up to €500 million by issuing up to 195,312,500 new no-par bearer shares in exchange for cash and/or contributions in kind. The shareholders are in principle entitled to subscription rights; the option of excluding subscription rights is limited in total to 20% of the capital stock. Art. 5 para. 5 of the Articles of Association of ThyssenKrupp AG has been reworded accordingly.

05 Share-based compensation

Management incentive plans

In the 2nd quarter ended March 31, 2012, the members of the Executive Board of ThyssenKrupp AG were granted stock rights of the 2nd installment of the long-term incentive plan (LTI). Furthermore, in the 2nd and 3rd quarter stock rights of the LTI were granted to additional executive employees. At the same time, in the 2nd quarter ended March 31, 2012, the stock rights granted in the 7th installment of the mid-term incentive plan (MTI) expired without any payment due to the decline of the average ThyssenKrupp EVA over the three-year performance period compared to the average EVA over the previous three fiscal year period. In the 9 months ended June 30, the Group recorded expenses of € 1.3 million (9 months ended June 30, 2011: €17.7 million) from the obligations of the mid-term and long-term incentive plans MTI and LTI; thereof income of €0.5 million (9 months ended June 30, 2011: expense of €0.7 million) are presented in income/(loss) of discontinued operations. In the 3rd quarter ended June 30, 2012, these plans resulted in an income of €0.1 million (3rd quarter ended June 30, 2011: expense of €11.8 million); thereof income of €0.1 million (3rd quarter ended June 30, 2011: expense of €0.5 million) are presented in income/(loss) of discontinued operations.

In September 2010 the structure of the variable compensation for members of the Executive Board of ThyssenKrupp AG was modified. 25% of the performance bonus granted for the respective fiscal year and 55% of the additional bonus granted depending on the economic situation will be obligatorily converted into ThyssenKrupp AG stock rights to be paid out after a three-year lock-up period based on the average ThyssenKrupp share price in the 4th quarter of the 3rd fiscal year. In the 3rd quarter of 2010/2011 the structure of the variable compensation for additional executive employees was modified. 20% of the performance bonus granted for the respective fiscal year will be obligatorily converted into ThyssenKrupp AG stock rights to be paid out after a three-year lock-up period based on the average ThyssenKrupp share price in the 4th quarter of the 3rd fiscal year. This compensation item resulted in expenses of €2.6 million in the 9 months ended June 30, 2012 (9 months ended June 30, 2011: €5.5 million) and in income of €1.8 million in the 3rd quarter ended June 30, 2012 (3rd quarter ended June 30, 2011: expense of €3.5 million).

Employee share purchase program

In the 3rd quarter ended June 30, 2011, the Group offered eligible members of its domestic workforce the right to purchase up to €270 million in ThyssenKrupp shares at a 50% discount as part of an employee share purchase program. The program resulted in the Group recording a compensation expense of €6.0 million (3rd quarter ended June 30, 2011: €6.1 million).

06 Accrued pension and similar obligations

Based on updated interest rates and fair value of plan assets, an updated valuation of accrued pension and health care obligations was performed as of June 30, 2012, taking into account these effects while other assumptions remained unchanged.

The Group applied the following weighted average assumptions to determine pension and postretirement benefit obligations other than pensions:

in %

	Sept. 30, 2011		June 30, 2012
	Germany	Outside Germany	Germany	Outside Germany
Discount rate for accrued pension liability	5.00	4.41	4.00	3.77
Discount rate for postretirement obligations other than pensions (only USA)	—	4.75	—	3.75

The net periodic postretirement benefit cost for health care obligations is as follows:

million €

	9 months ended June 30, 2011		9 months ended June 30, 2012		3rd quarter ended June 30, 2011		3rd quarter ended June 30, 2012
	Germany	Outside Germany	Germany	Outside Germany	Germany	Outside Germany	Germany	Outside Germany
Service cost	59	26	56	25	20	8	18	8
Interest cost	187	76	202	69	62	25	68	24
Expected return on plan assets	(10)	(83)	(9)	(75)	(4)	(27)	(3)	(25)
Past service cost	0	1	0	0	0	1	0	0
Net periodic pension cost	236	20	249	19	78	7	83	7

The above presented net periodic pension cost for defined benefit plans in Germany include cost of €10 million in the 9 months ended June 30, 2012 (9 months ended June 30, 2011: €10 million) and of €3 million in the 3rd quarter ended June 30, 2012 (3rd quarter ended June 30, 2011: €3 million) attributable to discontinued operations. The above presented net periodic pension cost for defined benefit plans outside Germany include cost of €1 million in the 9 months ended June 30, 2012 (9 months ended June 30, 2011: €1 million) and of €0.4 million in the 3rd quarter ended June 30, 2012 (3rd quarter ended June 30, 2011: €0.4 million) attributable to discontinued operations.

The net periodic postretirement cost for health care obligations is as follows:

million €
	9 months ended June 30, 2011	9 months ended June 30, 2012	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012
	USA/Canada	USA	USA/Canada	USA
Service cost	5	4	1	2
Interest cost	41	34	13	12
Expected return on reimbursement rights	(3)	(3)	(1)	(1)
Past service cost	(5)	(37)	(1)	(4)
Net periodic postretirement benefit cost/(income)	38	(2)	12	9

million €

Sept. 30, 2011	June 30, 2012
6,007	6,494
1,080	998
210	305

(357)	(301)
6,940	7,496

07 Issuance of a bond

In February 2012 ThyssenKrupp AG issued a 1.25 billion Euro bond documented under the existing 10 billion Euro Debt Issuance Programme. The bond has a five year maturity and carries a coupon of 4.375% at an issue price of 99.753%.

With this transaction ThyssenKrupp AG makes use of the good market environment and extends its maturity profile.

08 Contingencies including pending lawsuits and claims for damages

Guarantees

ThyssenKrupp AG as well as, in individual cases, its subsidiaries have issued or have had guarantees in favour of business partners or lenders. The following table shows obligations under guarantees where the principal debtor is not a consolidated Group company:

million €

	Maximum potential amount of future payments as of June 30, 2012	Provision as of June 30, 2012
Advance payment bonds	244	1
Performance bonds	116	1
Third party credit guarantee	43	0
Residual value guarantees	60	1
Other guarantees	34	0
Total	497	3

The terms of those guarantees depend on the type of guarantee and may range from three months to ten years (e.g. rental payment guarantees). The basis for possible payments under the guarantees is always the non-performance of the principal debtor under a contractual agreement, e.g. late delivery, delivery of non-conforming goods under a contract or non-performance with respect to the warranted quality or default under a loan agreement.

All guarantees are issued by or issued by instruction of ThyssenKrupp AG or subsidiaries upon request of the principal debtor obligated by the underlying contractual relationship and are subject to recourse provisions in case of default. If such a principal debtor is a company owned fully or partially by a foreign third party, the third party is generally requested to provide additional collateral in a corresponding amount.

Commitments and other contingencies

Due to the high volatility of iron ore prices, in the Steel Europe and Steel Americas business areas the existing long-term iron ore and iron ore pellets supply contracts are measured for the entire contract period at the iron ore prices applying as of the respective balance sheet date. Compared to September 30, 2011, the purchasing commitments were reduced by €7.5 billion to €20.9 billion due to the lower ore prices on a US dollar basis despite of the opposite effect of the weaker Euro.

Pending lawsuits and claims for damages

The Group is involved in pending and threatened litigation in connection with the purchase and sale of certain companies, which may lead to partial repayment of the purchase price or to the payment of damages. In addition, damage claims may be payable to contractual partners, customers, consortium partners and subcontractors under performance contracts. Some of these claims have proven unfounded, have been ended by settlement or expired under the statute of limitations. A number of these proceedings are still pending.

There have been no significant changes since September 30, 2011 to other contingencies, including pending litigations.

09 Derivative financial instruments

The notional amounts and fair values of the Group's derivative financial instruments are as follows:

million €

	Notional amount Sept. 30, 2011	Fair value Sept. 30, 2011	Notional amount June 30, 2012	Fair value June 30, 2012
Derivative financial instruments
Assets
Foreign currency derivatives including embedded derivatives	4,429	136	4,422	60
Interest rate derivatives*	299	5	291	8
Commodity derivatives	511	78	328	21
Total	5,239	219	5,041	89
Liabilities
Foreign currency derivatives including embedded derivatives	5,489	275	3,941	167
Interest rate derivatives*	750	35	1,122	100
Commodity derivatives	384	68	322	50
Total	6,623	378	5,385	317

* inclusive of cross currency swaps

10 Segment reporting

Segment information for the 9 months ended June 30, 2011 and June 30, 2012 as well as for the 3rd quarter ended June 30, 2011 and June 30, 2012 is as follows:

million €

	Steel Europe	Steel Americas	Materials Services	Elevator Technology	Plant Technology	Components Technology	Marine Systems	Corporate	Stainless Global*	Consoli dation	Group
9 months ended June 30, 2011
External sales	8,108	494	10,366	3,861	2,781	5,136	1,200	45	4,496	0	36,487
Internal sales within the
Group	1,655	281	629	3	28	11	2	51	551	(3,211)	0
Total sales	9,763	775	10,995	3,864	2,809	5,147	1,202	96	5,047	(3,211)	36,487
EBIT	880	(887)	397	469	377	382	192	(319)	66	(242)	1,315
9 months ended
June 30, 2012
External sales	6,878	1,141	9,584	4,097	2,941	5,476	880	46	4,366	0	35,409
Internal sales within the
Group	1,438	446	338	2	12	9	0	60	446	(2,751)	0
Total sales	8,316	1,587	9,922	4,099	2,953	5,485	880	106	4,812	(2,751)	35,409
EBIT	170	(781)	72	365	379	756	(32)	(324)	(769)	(270)	(434)
3rd quarter ended
June 30, 2011
External sales	2,952	245	3,750	1,296	937	1,775	479	12	1,405	0	12,851
Internal sales within the
Group	566	184	230	2	6	4	0	20	181	(1,193)	0
Total sales	3,518	429	3,980	1,298	943	1,779	479	32	1,586	(1,193)	12,851
EBIT	322	(190)	149	151	131	141	62	(120)	0	(101)	545
3rd quarter ended June 30, 2012
External sales	2,417	371	3,260	1,427	1,024	1,847	294	14	1,462	0	12,116
Internal sales within the
Group	483	172	109	2	3	5	0	20	144	(938)	0
Total sales	2,900	543	3,369	1,429	1,027	1,852	294	34	1,606	(938)	12,116
EBIT	47	(263)	(42)	134	140	459	23	(106)	(145)	(96)	151

* Discontinued operation

Net sales and operating EBIT reconcile to EBT from continuing operations as presented in the consolidated statement of income as following:

million € 9 months ended June 30, 2011 9 months ended June 30, 2012 3rd quarter ended June 30, 2011 3rd quarter ended June 30, 2012 Sales as presented in segment reporting 36,487 35,409 12,851 12,116 - Sales of Stainless Global (5,047) (4,812) (1,586) (1,606) + Sales of Stainless Global to Group companies 551 446 181 144 + Sales of Group companies to Stainless Global 215 176 60 56 Sales as presented in the statement of income 32,206 31,219 11,506 10,710

million €

	9 months ended June 30, 2011	9 months ended June 30, 2012	3rd quarter ended June 30, 2011	3rd quarter ended June 30, 2012
EBIT as presented in segment reporting	1,315	(434)	545	151
- Depreciation of capitalized borrowing costs eliminated in EBIT	(30)	(33)	(11)	(12)
+ Finance income	676	717	230	332
- Finance expense	(1,081)	(1,175)	(365)	(508)
- Items of finance income assigned to EBIT based on economic classification	(11)	(65)	(6)	(1)
- Items of finance expense assigned to EBIT based on economic classification	35	63	14	26
EBT - Group	904	(927)	407	(12)
- EBT of Stainless Global	(52)	794	12	153
EBT from continuing operations as presented in the statement of income	852	(133)	419	141

11 Cost of sales

Cost of sales for the 9 months ended June 30, 2012, includes write-downs of inventories of €27 million which mainly relate to the Materials Services and Components Technology business areas. As of September 30, 2011, write-downs amounted to €232 million. In the 9 months ended June 30, 2011, cost of sales includes writedowns of inventories of €49 million which mainly relate to Steel Americas. In addition, income/(loss) from discontinued operations includes write-downs of inventories of €42 million in the 9 months ended June 30, 2012 (9 months ended June 30, 2011: €27 million).

12 Earnings per share

Basic earnings per share is calculated as follows:

	9 months ended June 30, 2011		9 months ended June 30, 2012		3rd quarter ended June 30, 2011		3rd quarter ended June 30, 2012
	Total amount in million €	Earnings per share in €	Total amount in million €	Earnings per share in €	Total amount in million €	Earnings per share in €	Total amount in million €	Earnings per share in €
Income/(loss) from continuing operations (net of tax) (attributable to ThyssenKrupp AG's stockholders)	576	1.24	(220)	(0.43)	205	0.44	238	0.46
Income/(loss) from discontinued operations (net of tax) (attributable to ThyssenKrupp AG's stockholders)	50	0.11	(718)	(1.39)	7	0.02	(129)	(0.25)
Net income/(loss) (attributable to ThyssenKrupp AG's stockholders)	626	1.35	(938)	(1.82)	212	0.46	109	0.21
Weighted average shares	464,591,599		514,489,044		464,848,610		514,489,044

Relevant number of common shares for the determination of earnings per share

Earnings per share have been calculated by dividing net income/(loss) attributable to common stockholders of ThyssenKrupp AG (numerator) by the weighted average number of common shares outstanding (denominator) during the period. Shares sold during the period and shares reacquired during the period have been weighted for the portion of the period that they were outstanding.

In fiscal year 2010/2011 the weighted average number of outstanding shares was increased by the sale of treasury shares in February 2011 in the context of the Group's share purchase program, by the sale of treasury shares in May 2011 in the context of the employee share purchase and by the sale of treasury shares in the accelerated bookbuilding process to mainly institutional investors in July 2011.

There were no dilutive securities in the periods presented.

13 Additional information to the consolidated statement of cash flows

The liquid funds considered in the consolidated statement of cash flows correspond to the "Cash and cash equivalents" line item in the consolidated statement of financial position taking into account the cash and cash equivalents attributable to the disposal groups inclusive of discontinued operations.

Non-cash investing activities

In the 9 months ended June 30, 2012, the acquisition and first-time consolidation of companies created an increase in non-current assets of €65 million (9 months ended June 30, 2011: €0 million). In the 3rd quarter ended June 30, 2012 and June 30, 2011, respectively, there weren't any increases.

The non-cash addition of assets under finance leases in the 9 months ended June 30, 2012 amounted to €9 million (9 months ended June 30, 2011: €19 million) and in the 3rd quarter ended June 30, 2012 to €6 million (3rd quarter ended June 30, 2011: €4 million).

Non-cash financing activities

In the 9 months ended June 30, 2012, the acquisition and first-time consolidation of companies resulted in an increase in gross financial debt of €2 million (9 months ended June 30, 2011: €0 million); in the 3rd quarter ended June 30, 2012 and June 30, 2011, respectively, there weren't any increases.

14 Subsequent events

No reportable events occurred.

Essen, August 07, 2012 ThyssenKrupp AG

The Executive Board

Hiesinger

Berlien	Claassen	Eichler	Kerkhoff	Labonte
---------	----------	---------	----------	---------

Review report

To ThyssenKrupp AG, Duisburg and Essen

We have reviewed the condensed interim consolidated financial statements comprising the statement of financial position, the statement of income, the statement of comprehensive income, the statement of changes in equity, the statement of cash flows and selected notes – and the interim group management report of ThyssenKrupp AG, Duisburg and Essen, for the period from October 1, 2011 to June 30, 2012 which form part of the quarterly financial report according to section 37x para. 3 German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The preparation of the condensed interim consolidated financial statements in accordance with those IFRS applicable to interim financial reporting as adopted by the EU, and of the interim group management report in accordance with the requirements of the German Securities Trading Act applicable to interim group management reports, is the responsibility of the Company's management. Our responsibility is to issue a report on the condensed interim consolidated financial statements and on the interim group management report based on our review.

We conducted our review of the condensed interim consolidated financial statements and the interim group management report in accordance with the German generally accepted standards for the review of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW) and in supplementary compliance with the International Standard on Review Engagements (ISRE) 2410. Those standards require that we plan and perform the review so that we can preclude through critical evaluation, with a certain level of assurance, that the condensed interim consolidated financial statements have not been prepared, in material aspects, in accordance with the IFRS applicable to interim financial reporting as adopted by the EU, and that the interim group management report has not been prepared, in material aspects, in accordance with the regulations of the German Securities Trading Act applicable to interim group management reports. A review is limited primarily to inquiries of company employees and analytical assessments and therefore does not provide the assurance attainable in a financial statement audit. Since, in accordance with our engagement, we have not performed a financial statement audit, we cannot issue an auditor's report.

Based on our review, no matters have come to our attention that cause us to believe that the condensed interim consolidated financial statements have not been prepared, in material respects, in accordance with the IFRS applicable to interim financial reporting as adopted by the EU, or that the interim group management report has not been prepared, in material respects, in accordance with the regulations of the German Securities Trading Act applicable to interim group management reports.

Without qualifying this review opinion, we draw attention to the discussion on pages 13 and 30 in the interim group management report and on page 40 in the condensed notes regarding the recoverability of the assets of the Steel Americas business area.

Düsseldorf, August 9, 2012

KPMG AG Wirtschaftsprüfungsgesellschaft

Klaus Becker Michael Gewehr

(German Public Auditor) (German Public Auditor)

Report by the Supervisory Board Audit Committee

The interim report for the first 9 months of fiscal year 2011/2012 (October 2011 to June 2012) and the review report by the Group's financial statement auditors were presented to the Audit Committee of the Supervisory Board in its meeting on August 09, 2012 and explained by the Executive Board and the auditors. The Audit Committee approved the interim report.

Essen, August 09, 2012

Chairman of the Audit Committee Prof. Dr. Bernhard Pellens

Contact and 2012/2013 dates

For more information please contact:

Corporate Communications

Telephone +49 201 844-536043 Fax +40 201 844-536041 E-mail [email protected]

Investor Relations

E-mail [email protected]

Institutional investors and analysts

Telephone +49 201 844-536464 Fax +49 201 8456-531000

Private investors

Infoline +49 201 844-538382 Fax +49 201 8456-531000

Address

ThyssenKrupp AG ThyssenKrupp Allee 1, 45143 Essen, Germany P.O. Box, 45063 Essen, Germany Telephone +49 201 844-0 Fax +49 201 844-536000 E-mail [email protected]

2012/2013 dates

November 22, 2012 Annual Press Conference/Annual Report Conference call with analysts and investors

January 18, 2013 Annual General Meeting

February 12, 2013

Interim report 1st quarter 2012/2013 (October to December) Conference call with analysts and investors

May 15, 2013

Interim report 1st half 2012/2013 (October to March) Conference call with analysts and investors

August 14, 2013

Interim report 9 months 2012/2013 (October to June) Conference call with analysts and investors

Forward-looking statements

This report contains forward-looking statements that reflect management's current views with respect to future events. Such statements are subject to risks and uncertainties that are beyond ThyssenKrupp's ability to control or estimate precisely, such as future market and economic conditions, the behavior of other market participants, the ability to successfully integrate acquired businesses and achieve anticipated synergies and the actions of government regulators. If any of these or other risks and uncertainties occur, or if the assumptions underlying any of these statements prove incorrect, then actual results may be materially different from those expressed or implied by such statements. ThyssenKrupp does not intend or assume any obligation to update any forward-looking statements to reflect events or circumstances after the date of these materials.

Rounding differences and rates of change

Percentages and figures in this report may include rounding differences. The signs used to indicate rates of change are based on economic aspects: Improvements are indicated by a plus (+) sign, deteriorations are shown in brackets ( ). Very high positive and negative rates of change (≥1,000% or ≤(100)%) are indicated by ++ and −− respectively.

Variances for technical reasons

To meet statutory disclosure obligations, the Company has to submit the interim report to the electronic Federal Gazette (Bundesanzeiger). For technical reasons (e.g. conversion of electronic formats) there may be variances in the accounting documents published in the electronic Bundesanzeiger.

This English version of the interim report is a translation of the original German version; in the event of variances, the German version shall take precedence over the English translation.

Both language versions of the interim report can be downloaded from the internet at http://www.thyssenkrupp.com. An interactive online version is also available on our website in both languages.

ThyssenKrupp AG ThyssenKrupp Allee 1 45143 Essen, Germany www.thyssenkrupp.com

AI assistant

thyssenkrupp AG — Interim / Quarterly Report 2012

435_10-q_2012-08-10_2e560eda-0576-4766-9005-0f51ed2ac495.pdf

Interim Report 11/12

ThyssenKrupp in brief

ThyssenKrupp stock master data

Contents

ThyssenKrupp in figures 02

2 Condensed interim financial statements Consolidated statement of financial position 31 Consolidated statement of income 32

ThyssenKrupp in figures

Group continuing operations

Group including Stainless Global (discontinued operation)

Business Areas

Strategic development of the Group

Important progress achieved with strategic development program

Review of strategic options for Steel Americas

Portfolio further optimized

impact on track

Group review

EBIT in capital goods business remains high – materials business impacted by economy – overall positive earnings – net financial debt reduced

Economic environment still weak

Situation in the sectors mixed

Orders and sales impacted by the economy

ThyssenKrupp continuing operations in figures

Adjusted EBIT positive

EBIT from continuing operations affected by special items

Special items from continuing operations in million €

Analysis of the statement of income

Net financial debt and capital expenditure

Current issuer ratings

Business area review

Steel Europe

Steel Europe in figures

Orders and sales lower

Production cutbacks

EBIT down sharply

Steel Americas

Steel Americas in figures

Market position strengthened

Difficult market environment and ramp-up weigh on EBIT

Further progress with production startup - coke oven battery C operating to plan

Valuation risks

Materials Services

Weak demand, increased price and margin pressure

EBIT massively impacted by special items

Elevator Technology

Orders at record high, strong improvement in sales

Adjusted EBIT €421 million

Growth and investment program adopted

Plant Technology

Plant Technology in figures

Continued strong orders and sales

Earnings again at high level

Plant Technology strengthened by acquisition

Components Technology

Components Technology in figures

Order intake and sales higher

Further rise in EBIT, portfolio optimized

Marine Systems

Marine Systems in figures

Stable upward trend in order intake and sales

Adjusted earnings at good level

Corporate at ThyssenKrupp AG

Stainless Global (discontinued operation)

Order intake and sales lower

EBIT down from prior year

Stainless steel mill in the USA on schedule

ThyssenKrupp including Stainless Global

ThyssenKrupp including Stainless Global in figures

ThyssenKrupp stock

2012 employee stock program

Innovations

New TechCenter Carbon Composites strengthens materials competence

Premium electrical steels for solar sports car

Employees

Financial position

Analysis of the statement of cash flows

Analysis of the statement of financial position

Subsequent events

Expected developments and associated opportunities and risks

thyssenkrupp AG Interim / Quarterly Report 2012