THYSSENKRUPP AG 9 MONTHS October 01, 2013 – June 30, 2014

Developing the future.

Contents 9months2013/2014—October01,2013–June30,2014

InterimManagement Report

02 ThyssenKruppinfigures

03 ThyssenKruppinbrief

04 Strategicdevelopment oftheGroup

07 Groupreview

12 Expecteddevelopments

14 Businessareareview

24 Resultsofoperationsand financialposition

27 Subsequentevents

28 ThyssenKruppstock

29 Rating

29 Innovations

30 Employees

30 Compliance

31 Macroand sectorenvironment

Opportunitiesandrisks

Condensedinterim financialstatements

37 Consolidatedstatement offinancialposition

38 Consolidatedstatement ofincome

39 Consolidatedstatement ofcomprehensiveincome

Consolidatedstatement ofchangesinequity

41 Consolidatedstatement ofcashflows

42 Selectednotestothe consolidatedfinancial statements

63 Reviewreport Further information

64 ReportbytheSupervisory BoardAuditCommittee

65 Contactand 2014/2015dates

Thisinterimreportwaspublished onAugust14,2014.

ThyssenKruppinfigures

GroupContinuingOperations1!

		9months 2012/2013	9months 2013/2014	Change	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change	Change in%
Orderintake	million€	29,577	31,052	1,475	5	9,401	10,161	760	8
Netsalestotal	million€	28,649	30,146	1,497	5	9,920	10,742	822	8
EBITDA	million€	950	1,694	744	78	355	628	273	77
EBIT	million€	75	886	811	++	33	349	316	958
EBITmargin	%	0.3	2.9	2.6	—	0.3	3.2	2.9	—
AdjustedEBIT	million€	433	953	520	120	136	398	262	193
AdjustedEBITmargin	%	1.5	3.2	1.7	—	1.4	3.7	2.3	—
EBT	million€	45245	301	825	++	42055	162	367	++
Income/4loss54netoftax5	million€	46345	58	692	++	44285	43	471	++
attributabletoThyssenKruppAG'sshareholders	million€	45925	59	651	++	43985	40	438	++
Basicearningspershare	€	41.155	0.11	1.26	++	40.775	0.07	0.84	++
Operatingcashflow	million€	633	41685	48015	--	417	41	43765	4905
Cashflowfromdisposals	million€	1,030	1,060	30	3	46	14	4325	4705
Cashflowforinvestments	million€	48605	46725	188	22	42395	42205	19	8
Freecashflow	million€	803	220	45835	4735	224	41655	43895	--
Employees4June305		155,551	160,168	4,617	3	155,551	160,168	4,617	3

¹⁵Prior-yearfigureshavebeenadjusted.

FullGroup2!

		9months 2012/2013	9months 2013/2014	Change	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change	Change in%
Orderintake	million€	30,716	31,052	336	1	9,401	10,161	760	8
Netsalestotal	million€	29,872	30,146	274	1	9,920	10,742	822	8
EBITDA	million€	1,022	1,879	857	84	356	628	272	76
EBIT	million€	146	1,070	924	633	33	348	315	955
EBITmargin	%	0.5	3.5	3.0	—	0.3	3.2	2.9	—
AdjustedEBIT	million€	365	953	588	161	139	398	259	186
AdjustedEBITmargin	%	1.2	3.2	2.0	—	1.4	3.7	2.3	—
EBT	million€	44555	485	940	++	42015	161	362	++
Netincome/4loss5	million€	45705	242	812	++	44255	42	467	++
attributabletoThyssenKruppAG'sshareholders	million€	45275	243	770	++	43955	39	434	++
Basicearningspershare	€	41.025	0.44	1.46	++	40.765	0.07	0.83	++
Operatingcashflow	million€	439	41685	46075	--	417	41	43765	4905
Cashflowfromdisposals	million€	1,029	1,060	31	3	46	14	4325	4705
Cashflowforinvestments	million€	49585	46725	286	30	42395	42205	19	8
Freecashflow	million€	510	220	42905	4575	224	41655	43895	--
Netfinancialdebt4June305	million€	5,326	4,122	41,2045	4235	5,326	4,122	41,2045	4235
Totalequity4June305	million€	3,573	3,173	44005	4115	3,573	3,173	44005	4115
Employees4June305		155,551	160,168	4,617	3	155,551	160,168	4,617	3

²⁵Allprior-yearincomefiguresandtotalequityhavebeenadjusted.

BusinessAreas

	million€		Orderintake	million€	Netsalestotal	EBIT million€		AdjustedEBIT million€	Employees
	9months 2012/2013	9months 2013/2014	9months 2012/2013	9months 2013/2014	9months 2012/2013	9months 2013/2014	9months 2012/2013	9months 2013/2014	June30, 2013	June30, 2014
ComponentsTechnology35	4,223	4,623	4,222	4,586	149	187	183	208	27,562	28,500
ElevatorTechnology	4,945	5,074	4,482	4,634	459	476	487	531	48,488	49,707
IndustrialSolutions	4,376	4,518	4,040	4,466	496	558	476	562	18,660	19,065
MaterialsServices	8,800	9,956	8,794	9,839	4705	124	160	148	25,994	30,467
SteelEurope	7,338	6,882	7,327	6,691	33	164	101	184	27,609	26,047
SteelAmericas35	1,565	1,595	1,462	1,514	43595	126	43595	4275	4,100	3,446
Corporate	141	126	141	126	43345	44535	43105	43585	3,138	2,936
Consolidation	41,8115	41,7225	41,8195	41,7105	42995	42965	43055	42955	0	0
ContinuingOperations	29,577	31,052	28,649	30,146	75	886	433	953	155,551	160,168

	million€	Orderintake		Netsalestotal million€		EBIT million€		AdjustedEBIT million€
	3rdquarter 2012/2013	3rdquarter 2013/2014	3rdquarter 2012/2013	3rdquarter 2013/2014	3rdquarter 2012/2013	3rdquarter 2013/2014	3rdquarter 2012/2013	3rdquarter 2013/2014
ComponentsTechnology35	1,539	1,611	1,517	1,603	43	65	80	70
ElevatorTechnology	1,696	1,692	1,562	1,609	155	184	172	193
IndustrialSolutions	779	1,035	1,306	1,585	157	190	156	190
MaterialsServices	3,047	3,700	3,056	3,780	51	44	62	58
SteelEurope	2,315	2,178	2,562	2,228	14	92	62	103
SteelAmericas35	496	412	473	441	41935	8	41935	16
Corporate	43	41	43	42	4835	41385	4935	41365
Consolidation	45145	45085	45995	45465	41115	4965	41105	4965
ContinuingOperations	9,401	10,161	9,920	10,742	33	349	136	398

35Prior-yearfiguresforEBITandAdjustedEBIThavebeenadjusted.

ThyssenKruppinbrief

ThyssenKrupp has around 160,000 employees in nearly 80 countries working with passion and expertise to develop technologies,productsandservicesforsustainableprogress.Theirskillsandcommitmentarethebasisofoursuccess.In fiscalyear2012/2013ThyssenKruppgeneratedsalesofaround€39billion.

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 "Mechanical", "Plant" and "Materials", we enable our customerstogainanedgeintheglobalmarketandmanufactureinnovativeproductsinacost-andresource-friendlyway.

ThyssenKruppstockmasterdata

ISIN4InternationalStockIdentificationNumber5	DE0007500001
Stockexchanges	Frankfurt4PrimeStandard5,Düsseldorf
Symbols
Frankfurt,Düsseldorfstockexchanges	TKA
Bloomberg4Xetratrading5	TKAGY
Reuters4Xetratrading5	TKAG.DE

The Steel Americas business area, having been classified as a discontinued operation in accordance with IFRS at September30,2012,was reclassifiedasacontinuingoperationatSeptember30,2013;theprior-yearfigureshavebeen adjusted accordingly.Within SteelAmericas, ThyssenKruppSteelUSAwas reported as a disposal group until itssale on February 26, 2014. Following the disposal of the discontinued operation Stainless Global at the end of the 1st quarter 2012/2013asaresultofthecombinationwiththeFinnishcompanyOutokumpu,incomewasrecordedinthefirst9months of2013/2014whichisdirectly relatedtothisandrepresentsthediscontinuedoperations.The29.9%financialinterestin Outokumpuobtainedaspartofthetransactionwasaccountedforbytheequitymethoduntiltheannouncementofitssale onNovember29,2013anditsequitymethodincomewasnotincludedinEBITduetoitsnon-operatingnature;thesalewas closedonFebruary28,2014.

StrategicdevelopmentoftheGroup

Demographic change,the globalization of goodsflows andthe rapid growth of mega citiesmeanthat global demand is risingallthetime.Theworldneeds"more"consumerandcapitalgoods,infrastructure,energyandrawmaterials.However, thisgrowingdemandissetagainstthefinitenatureofnaturalresources.Concernsabouttheclimateandtheenvironment aswell as stricter statutory requirements callfor "better" solutions. Theworld does not just need "more", but above all "better":We needtouse resourcesmoreefficiently, reducetheenvironmentalimpact ofproducingconsumerandcapital goods,andbuildmoresustainableinfrastructure.

Thankstoitsengineeringexpertise,ThyssenKruppofferssolutionstothesechallengesandwithitscapitalgoods,materials, industrialprocessesandservicesalreadymeetsrequirementsfor"more"and"better"inmanyareas–bothinindustrialized countriesandinemergingmarkets.Ourtechnologicalexpertise andthehigh quality of our productsandservicescreate valueforourcustomersandgiveusaclearcompetitiveedge.

To align ThyssenKrupp more closely with these trends as a diversified industrial group we launched our Strategic Way ForwardinMay2011.Thepillarsofthisholisticprogramareastrongerperformanceorientation,changesinourcorporate culture,leadershipandstructure,andcontinuousportfoliooptimization.Thiswillstrengthenourfinancialbaseandgiveusthe freedomtoexpandouractivitiesstrategically.WetookfurtherimportantstepsinimplementingtheStrategicWayForwardin the first 9 months of fiscal 2013/2014. With the sale of ThyssenKrupp Steel USA and the slab supply contract for ThyssenKruppCSA,theendingoffinanciallinkswithOutokumpuandthesuccessfulcapitalincreasewesignificantlyreduced ourriskprofile,strengthenedourkeyfinancialratiosandsecuredvalueforthecompany.

SaleofThyssenKruppSteelUSAcompleted

OnFebruary26,2014wecompletedthesaleoftheThyssenKruppSteelUSA rollingandcoatingplantinCalvert/Alabamatoa consortium of ArcelorMittal and Nippon Steel & Sumitomo Metal Corporation. On completion ofthetransaction we received a purchasepriceofUS\$1.55billion;addedtothiscamepurchasepriceadjustments,inparticularforincreasednetworkingcapital. At the same time a valuable long-term slab supply contract was agreed that will provide a sustainable solution for the ThyssenKruppCSAsteelmillinBrazil.TheconsortiumwillpurchasetwomilliontonsofslabsperyearfromThyssenKruppCSAup to2019.Theagreementwill reliablysecureaminimum40percentcapacityutilizationofthemillforseveralyears.Inaddition, strongerpenetrationoftheslabmarketsinSouthandNorthAmericawillfurtherincreaseThyssenKruppCSA'scapacityutilization. Withthesaleandtheslabsupplycontractwehavecreatedimportantconditionsforfurtherimprovementstoourcashflowprofile andkeyfinancialratios.FollowingcompletionofthesaleweareconcentratingonfurtheroperatingimprovementsattheBrazilian plant,whereclearprogresshasalreadybeenmadeintechnicalperformanceandefficiency.

ThyssenKrupp CSA will remain in the Steel Americas business area, which will continue to be stated separately in our financialreports.

EndingofallfinanciallinkswithOutokumpu

OnFebruary28,2014wetransferredtoOutokumputhefinancialreceivablecreatedinconnectionwiththeInoxumsaleandin return acquired the companies VDM and AST as well as a number of European stainless steel service centers from Outokumpu.Inaddition,tofulfillthe requirementsoftheEUCommissionwedisposedofour29.9%interestinOutokumpu andendedallotherfinanciallinkswithOutokumpu.WithinThyssenKrupptheacquiredcompanieshavebeenintegratedinto theMaterialsServicesbusinessareatotakeadvantageofthemarketpresenceoftheexistingdistributionnetwork.Overthe pastfewmonthswehaveanalyzedthebusinessmodelsandplansofVDMandASTindetail.ForAST,acomprehensivenew businessplanhasbeendevelopedwhichprovidesforanintensificationandrestructuringofsalesofcold-rolledproductsas well as extensive restructuring measures in production and administration with a significant reduction in personnel. The detailswillbethesubjectofintensivenegotiationswiththestakeholdersinthecomingmonths.AtVDMthefocusisnowon intensifyingandsupportingtheidentifiedrestructuringprogramsandgrowthinitiatives.

Moredetailsonthetransactionscanbefoundinthe2012/2013AnnualReport,section"ProfileandStrategy".

Loss-makingbusinessKockumssoldwithdisposalgain

In view of the announcement by the Swedish government that future naval shipbuilding programs will be carried out nationally,weagreedthesaleoftheSwedishshipyardThyssenKruppMarineSystemsABHformerlyKockumsIwithfacilities inMalmö,KarlskronaandMuskötoSaabattheendofJune2014.Thesaleoftheactivities,whicharemainlyfocusedon repairanddesign,wascompletedonJuly22,2014andwillresultinadisposalgaininthe4thquarterofthecurrentfiscal year. We are concentrating our naval shipbuilding operations at the sites in Kiel, Hamburg and Emden. These activities deliverareliablecontributiontotheGroup'searnings.

Expansionofimportantgrowthareas

Inthereportingperiodwefurtherstrengthenedthestrategicallyimportantareasofengineeringandelevators,investingin particularinorganicgrowth:

InNovember2013theIndustrialSolutionsbusinessareasignedanagreementtosetupajointventurewithIndustrieDe Nora,aproviderofelectrochemicaltechnologiesbasedinMilan,Italy.Bycombiningtheirengineering,procurementand construction activities in the field of electrolysis plants, the two partners will widen their technology platforms and increase proximityto customers as well as global presence. The agreement is subjectto approval bythe competent competitionauthorities.
To better exploit global market opportunities in engineering, an important growth area for the Group, the previously separate engineering companies ThyssenKrupp Uhde and ThyssenKrupp Resource Technologies Hpreviously created from ThyssenKrupp Polysius and ThyssenKrupp FördertechnikI were combined under the roof of ThyssenKrupp IndustrialSolutionsinJanuary2014.Integrationandregionalizationarecentralelementsinachievingourgrowthtargets intheengineering business and increasingefficiency.Byfocusing our competencies in a globalenterprisewe aimto optimallyexploitmarketpotentialinthegrowthregions.
Aswellasfurtherstrengtheningitsservicebusinessthroughacquisitionsworldwide,theElevatorTechnologybusiness areainvestedinexpandingandmodernizingitsplants.InGermanytheNeuhausensiteisbeingexpandedintoastateof-the-arttechnologypark.Inaddition,weplantobuildaresearchanddevelopmenttowerinRottweiltotestandcertify elevator innovationsforthetallest buildings intheworld.In China a new multi-function building is being built atthe Songjiangelevatorplant,andinZhongshanweareinthefinalplanningphaseofanewelevatorplantwithtesttower.In India construction work has started on a state-of-the-art manufacturing center in Pune. We are also modernizing/expandingourfacilitiesintheUSAandBrazil.
In the Components Technology business area the expansion of new manufacturing sites in the automotive growth markets continued. In December 2013 we opened a new plant in Chengdu HChinaI to build automotive springs and stabilizersfortheChinesemarket.InFebruary2014constructionworkstartedonafurtherproductionfacilityforcylinder headmodules in Poços deCaldas HBrazilI. Production is scheduledto begin in 2015.InJuly 2014we opened a new plant in Shanghaito produce steering and damping systemsforthe Chinese market. Afurther cylinder headmodule factorywillgointooperationinChinalaterthisyear.
TheMaterialsServicesbusinessareafurtheroptimizeditsrange,logisticscapabilitiesandservicesandmadetargeted investments in growth markets. In March 2014 we opened a new service center in Alabama HUSAI to strengthen materials distribution in North America. Our warehousing and processing capacities in Mexico for the automotive industry were modernized and expanded. We also opened new basesforthe aerospace industry in North Africa and India.Anewcoordinationandcompetencecenterfortheoilandgasindustryiscurrentlyunderconstruction.

Wealsofurtherintensifiedourresearchanddevelopmentefforts.Onefocusistoexpandanddeepenresearchcollaborations withpartnersfromindustryandacademia.Togetherwithothercompaniesandresearchinstitutionsweareworkingona newtechnologytouseprocessgases,inparticularCO2,asarawmaterial.Thetechnologywillimproveclimateprotection andofferssignificantlong-termmarketpotential.InadditionweareextendingourexistingcooperationwithRWTHAachen UniversitytoincludenewtopicssuchasIndustry4.0forfuturestrategiccollaborativeprojects.

Corporateprogram"impact2015"makingfurtherprogress

The corporate program impact combines performance-enhancing initiatives andmeasuresto supportthe Group's Strategic WayForward.Theaimoftheefficiencyprogram"impact2015"istoachieveacumulativepositiveEBITeffectof€2.3billion from performance measures in the three fiscal years 2012/2013 through 2014/2015. We already achieved savings of €600millioninthepastfiscalyear,significantlyexceedingour€500milliontarget.Inthefirst9monthsof2013/2014further EBITeffectsof€750millionwereachieved.Wearethereforeconfidentthatwecanexceedoursavingstargetof€850million forthe2013/2014fiscalyear.

ImportantcontributionsarebeingmadebytheGroupwidepurchasinginitiativesynergize+andprogramsinthebusiness areasthatarebeingcontinuedorlaunchedthisfiscalyear.Theyincludeaprogramtoimproveproductionprocessesin the Components Technology business area. The aim is to increase the efficiency and productivity of the over 80 productionsitesoftheComponentsTechnologygroupworldwide.

ACTcreatesnewGroupleadershipstructurewithcompetitivecosts

WiththecorporateinitiativeACTH"AchieveChange@ThyssenKrupp"IThyssenKruppisoptimizingitsleadershipandbusiness structures and associated processes. ACT supports culture change and improvements to performance, efficiency and profitability throughout the Group. Extensive competitive analyses and benchmark studies have identified savings and optimizationopportunitiesamountingtoaround€250millionasa resultofthenewstructuresandprocesses.Mostofthese effectsaretobeachievedbytheendoffiscalyear2014/2015.Thenumberofemployeesinadministrativefunctionsworldwide istobereducedbyroughly3,000fromthepreviouslevelof15,000.Inaninitialstepthecorporatefunctionsweresignificantly reducedinnumberandreorganized.Corporateheadquartersandtheheadofficesofthebusinessareashavebeenoperatingin thenewstructuresinceOctober01,2013.Thenew,moreefficientstructuresandprocessesarecurrentlybeingimplementedin thebusinessunitsofthebusinessareasand regions.Inaddition,keyfunctionscurrentlyperformedlocallywillbecombined andorganizedefficientlyandcompetitivelyinin-houseservicecentersofa"GlobalSharedServices"unit.Thisconcernssiteindependentactivitiessuchascertainaccounting,IT,realestatemanagementandhumanresourcesprocesses.Ouraimisto start providingthefirst processesfromone ofthenewcenters beforetheendofthisfiscalyear.Overall,thenewGlobal SharedServicesstructurewillincludesixcentersworldwide,withlocationsintheRuhr,GdanskandAsiaaswellasregional centersinChinaandBrazil.ThecollectiveagreementconcludedwiththeIGMetallunionandemployeerepresentativesin early May 2014 will enable ThyssenKrupp to implement Global Shared Services throughout Germany. In addition, the Group's structure will be routinely reviewed in the future as part of the annual strategy process in order to ensure it is continuouslyenhancedandadaptedinlinewithchangingconditions.

Focusongovernanceandcompliance

ThyssenKrupp has made a clear commitmentto compliance with laws and internal policies: Any violations, in particular antitrustorcorruptionviolations,willbemetwithzerotolerance.Allreportsofmisconductwillbeinvestigated.

TheSupervisoryBoardhasselectedcorporategovernanceandcomplianceaskeyareasofitswork.EffectiveFebruary01, 2014theSupervisoryBoardappointedDr.DonatusKaufmannas amember oftheExecutiveBoard.Heheadsthenewly created Legal and Compliance directorate. This further reinforces our decision to intensify governance and compliance activitiesintheGroup.

Moreinformationonourcomplianceactivitiescanbefoundinthesection"Compliance".

Groupreview

Operatingandstrategicmilestonesachieved

ThyssenKruppachievedandinsomecasesslightlyexceededitsoperatingandstrategictargetsinthe3rdquarterandthe first9monthsofthe2013/2014fiscalyear:

AdjustedEBITfromcontinuingoperationswassignificantlyhigheryear-on-yearinallquartersofthecurrentfiscalyearand inthefirst9monthsasawholecameto€953million,120%upfromtheprioryearandfullyinlinewithouroutlookforthe fiscal year; this reflects our stronger performance focus and progress in implementing the measures under the impact program.AdjustedEBITinthe3rdquarterwas€398million,improvingsignificantlyforvirtuallytheseventhquarterinarow and almostthreetimes higherthanthe corresponding prior-yearfigure. All business areas except Steel Americas made clearpositivecontributionsinallthreequarters;SteelAmericasreduceditslossesbymorethan€300millionyear-on-year inthefirst9monthsandgeneratedpositiveadjustedEBITinthe3rdquarter2013/2014.Allthecapitalgoodsbusinesses increasedtheirearningscomparedwiththefirst9monthsoftheprioryear;at€1,301milliontheirprofitsweresignificantly higherthanthoseofthematerials business,whichalso generatedclear positiveearningsof€305millionevenincluding SteelAmericas.AdjustedEBITatCorporateinthefirst9monthscameto€H358Imillionandconsolidationto€H295Imillion. Inthefirst9monthsofthefiscalyear,thefullGroupgeneratednetincomeattributabletotheshareholdersofThyssenKrupp AGof€243million;the3rdquartercontributed€39milliontothis.

As expected, free cash flow from continuing operations before divestments at €H840I million in the first 9 months 2013/2014wasloweryear-on-yearduetothecompensationpaymenttoDeutscheBahn,thepreparatorymeasuresforthe reliningofblastfurnaceSchwelgern2,andanincreaseinnetworkingcapitalduetobusinessgrowthandportfoliochanges HincludingatThyssenKruppSteelUSAuntilcompletionofthesale,andatVDMandASTsincetheirtransferattheendof February2014I.However,thankstothecapitalincreaseatthebeginningofDecember2013andthecashinflowsfromthe completion of the Outokumpu transaction and the sale of ThyssenKrupp Steel USA, the full Group's net financial debt decreasedcomparedwiththeendoffiscal2012/2013from€5.0billionto€4.1billion,equityincreasedfrom€2.5billionto €3.2billion,andgearingwasreducedsignificantlybyaround71percentagepointsto129.9%.Thesefiguresalsoalready includeacashoutflowof€279millionincurredinthe2ndquarter2013/2014asaresultofthewinding-downofthenonoperatingUS-basedsubsidiaryTheBuddCompanyinaChapter11case.Inthisconnectionhealthcareobligationsof€691 millionwerealsoshed,meaningnomorecashoutflowswillresultfromtheseinthefuture.

Withcash,cashequivalentsandcommittedundrawncreditlinestotaling€7.3billionatJune30,2014andabalancedand extendedmaturityprofile,ThyssenKruppissolidlyfinanced.

Capitalgoodsbusinessesdrivegrowthinordersandsales

ThyssenKrupp held up well overall in a continuing challenging economic climate in the first 9 months 2013/2014; key driversforthegrowthinordersandsaleswerethesolidperformancesofthecapitalgoodsbusinesses.

Orderintakefromcontinuingoperationscameto€31.1billioninthefirst9months2013/2014,up5%year-on-yeardespite negativeexchangerateeffects;onacomparablebasis,i.e.excludingcurrencyandportfolioeffects,orderintakeincreased by6%year-on-year.3rdquarterorderintakewas€10.2billion,up8%year-on-year.Onacomparablebasisitgained5%. Comparedwiththepriorquarter,orderswerevirtuallyunchanged.

Onacomparablebasisallthecapitalgoodsbusinessesexceededtheirprior-yearorderintakeinthe3rdquarterandinthe first9monthsoverall.ComponentsTechnologyrecordedparticularlystrongyear-on-yeargainsinallthreequartersandan overall increase of 13% in the first 9 months; the demand recovery for auto components strengthened and the slight improvementinindustrialcomponentsfromtheweakprior-yearlevelscontinued.OrderintakeatElevatorTechnologywas mainlydrivenbyimproveddemandinChina,theUSAandSouthKorea,gainingyear-on-yearonacomparablebasisinall threequarters.IndustrialSolutionsimprovedonitsstrongprior-yearperformanceonacomparablebasis.Ordersinhandat Elevator Technology and Industrial Solutions remained at around €19 billion intotal at June 30, 2014,forming a strong baseforprofitablesalesgrowthinthesebusinesses.

Orderintakeinthebusinessareasofthematerialsactivitieswasinfluencedbyportfoliomeasures:WitheffectfromMarch 01,2014MaterialsServicesincludesthecontributionsoftheVDMandASTgroupstransferredfromOutokumpu,butorders inthefirst9monthsalsoimprovedonacomparablebasisduetohighervolumes–aidedinparticularbynumeroussales initiatives.Againstcontinuinghighpricepressure,newordersatSteelEuropeweredownyear-on-year,partlyasaresultof the disposal ofthetailored blanks business; onacomparable basis,averageordervolumesinthe reporting periodwere slightly higheryear-on-year. 3rd quarter orderswere downsomewhatfromthe prior quarter,whichwas characterized by strongermarketactivityandrestockingbycustomers.OrdersatSteelAmericasincreasedby2%year-on-yearinthefirst9 monthsdespitethesaleofThyssenKruppSteelUSAattheendofFebruary2014,butdeclinedinthe3rdquarterbothyearon-year and quarter-on-quarter due to the disposal; thanks to positive volume effects, ThyssenKrupp CSA significantly increaseditsorderintakebothyear-on-yearandquarter-on-quarter.

Salesfromcontinuingoperationsat€30.1billioninthefirst9monthswerehigheryear-on-yearinallbusinessareasexcept SteelEurope,wheresalesfellduetodisposalsandlowerprices;onacomparablebasissalesincreasedyear-on-yearby6% inthefirst9monthsand5%inthe3rd quarter,profitingin particularfromstrong growthandhighordersinhandinthe capital goods operations. 3rd quarter sales were 4% higher quarter-on-quarter; seasonally higher sales in the elevator business and highersales atMaterials Servicesfor portfolio reasons offset lowershipments at SteelEurope dueto bad weatherandoperationalissuesandportfolio-relatedlowersalesatSteelAmericas.

OrderintakeandsalesofthefullGroupinthefirst9months2013/2014werealsohigheryear-on-year,eventhoughthe1st quarteroftheprioryearstillincludedcontributionsfromthediscontinuedoperationStainlessGlobal.

Inastilldifficultandhighlycompetitiveclimate,adjustedEBITfromcontinuingoperationsincreasedsignificantlyyear-onyearandquarter-on-quarterto€953millioninthefirst9monthsand€398millioninthe3rdquarter2013/2014.

Inallthecapital goods operationsadjustedEBITwassignificantlyhigheryear-on-yearinboththefirst9monthsand, withtheexceptionofslightdeclinesatComponentsTechnology,the3rdquarter.ComponentsTechnologyprofitedabove allfrom performance improvements dueto restructuring and efficiencymeasures initiated inthe prior year;the slight declinein3rdquarterearningswaspartlyduetoincreased repairandmaintenanceexpense.Elevator Technologyand Industrial Solutions achieved higher earnings year-on-year in all three quarters. Elevator Technology profited from a continuousmarginimprovementresultingfromtheperformanceoptimizationandrestructuringmeasures;adjustedEBIT margin was 0.3 percentage points higher year-on-year in the 1st quarter, 0.5 percentage points higher in the 2nd quarter,and1percentagepointhigherinthe3rdquarterat12.0%.ThesignificantearningsimprovementsatIndustrial Solutions reflectorderbillingsforfertilizercontractsatProcessTechnologiesandefficiencyenhancementmeasuresin allbusinessunits.

Inthematerialsbusinesses,adjustedEBIT–withtheexceptionofslightdeclinesatMaterialsServices–wassignificantly higheryear-on-yearbothinthefirst9monthsandinthe3rdquarter.Despitecontinuinghighpricepressureandintense competition, adjusted EBIT at Materials Services was roughly level with the prior year, helped by numerous efficiency enhancementmeasuresandsalesinitiatives.AtSteelEurope,themeasuresunderthe "Best-in-ClassReloaded" program startedtotakeeffect;year-on-year,adjustedEBITincreasedby82%inthefirst9monthsandalsoimprovedsignificantlyin the3rdquarter.SteelAmericasremainedslightlynegativeinthefirst9monthswithadjustedEBITof€H27Imillion.Thanks toefficiency andvolume gains and positiveeffectsfrommarket prices intheUSA, however,the losseswere reduced by more than €300 million compared with the prior year, and positive adjusted EBIT was generated in the 3rd quarter 2013/2014.

IncludingthediscontinuedoperationstheGroup'sadjustedEBITincreasedfromvon€365millionto€953millioninthe first9months2013/2014,reflectingimprovementsinthecontinuingoperationsandtheabsenceoftheoperatinglosses atStainlessGlobalfromthe1stquarteroftheprioryearwiththecompletionofthedisposal.

EBITandfinancialpositionimpactedbyspecialitems

Inthefirst9months2013/2014,EBITfromcontinuingoperationswasimpactedbynetspecialitemsof€67million.They relatedinparticulartorestructuringprovisionsatElevatorTechnologyinthe1sthalf,incomefromthesaleofThyssenKrupp SteelUSAinthe2ndquarter,incomefromtheupdatedvaluationofalong-termfreightagreementatSteelAmericas,and incomefromthedeconsolidationofthenon-operatingUSsubsidiaryTheBuddCompanyatCorporateinthe2ndquarter. ThiswaspartlyoffsetatCorporatebyalossonthesaleoftheOutokumpushareholdinginthe2ndquarter;thiswasinturn largely offset by correspondingfinancial income of almostthe same amount dueto derecognition of a share derivative recognizedinthe1stquarter HseealsoNote02I.Netspecialitemsinthe3rdquartercameto€49millionandincludedin particular restructuring expenses at Components Technology, Elevator Technology, Steel Europe and Corporate, an impairmentchargeatMaterialsServices,aswellasexpensefromtheupdatedvaluationofthefreightagreementatSteel Americas.

million€	9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
EBIT15	75	886	++	33	349	958
+/-Disposallosses/gains	4115	4635	--	485	425	75
+Restructuringexpenses	105	114	9	60	24	4605
+/-Impairment/ReversalofImpairment	55	425	--	51	415	--
+Othernon-operatingexpenses	236	30	4875	2	20	900
-Othernon-operatingincome	4275	4125	56	425	8	++
AdjustedEBIT15	433	953	120	136	398	193

Specialitemsfromcontinuingoperations

¹⁵Prior-yearfigureshavebeenadjusted.

Positivenetincomeafter9monthsandin3rdquarter

Afterspecialitems,EBITfromcontinuingoperationscameto€886millioninthefirst9months;theprior-yearfigurewas €75million.After-taxearningsfrom continuing operations increased accordinglyfrom €H634Imillionto €58million;they decreased quarter-on-quarter from €272 million to €43 million in the 3rd quarter. This was mainly due to the aforementionedfinancialincomeof€224millionduetoderecognitionofasharederivativeinthe2ndquarter.

OnthisbasisthefullGroupgeneratednetincomeattributabletotheshareholdersofThyssenKruppAGof€243millionin thefirst9monthsofthefiscalyear,ofwhichthe3rdquartercontributed€39million.Thenetincomefortheperiodincluded income inthefirst 9 months attributabletothe discontinued operations inthe net amount of €184 million. This mainly stemsfromthe 1st quarter 2013/2014fromthe reversal of provisionsforthe obligationto offset anynegativefinancial consequencesforOutokumpuundermergercontrolrequirementsinconnectionwiththesaleofInoxumtoOutokumpu.

Earningspershareimprovedyear-on-yearfrom€H1.02Ito€0.44inthefirst9months2013/2014andcameto€0.07inthe 3rdquarter.

Netfinancialdebtreduced

ThefullGroup'snetfinancialdebtatJune30,2014cameto€4,122million,downfrombothayearearlierH€5,326millionI andSeptember30,2013H€5,038millionI.

Netfinancialdebtiscalculatedasthedifferencebetweenthecashandcashequivalentsshowninthestatementoffinancial positionpluscurrentotherfinancialassetsavailableforsale,andnon-currentandcurrentfinancialdebt;thecorresponding assetsintendedforsaleofthedisposalgroupsandthediscontinuedoperationsarealsotakenintoaccount.

ThyssenKrupp AG has agreements with banks which contain certain conditions in the event that the gearing ratio Hnet financialdebttoequityIintheconsolidatedfinancialstatementsexceeds150%attheclosingdateHSeptember30I.

AtJune30,2014thegearingratiowas129.9%,around71percentagepointslowerthanatSeptember30,2013andback below the gearing limit of 150%. The main reasons for the improvement were the capital increase carried out in early December 2013 and the cash inflows from the successful completion of the Outokumpu transaction and the sale of ThyssenKruppSteelUSA.

At June 30, 2014 the Group's available liquidity amounted to €7.3 billion, consisting of €3.5 billion cash and cash equivalents and €3.8 billion undrawn committed credit lines. There is thus sufficient scope to cover upcoming debt maturities. The gross financial liabilities repayable up to the end of fiscal year 2014/2015 amount to €1.2 billion. ThyssenKruppisthussolidlyfinanced.

Financingmeasurescompletedsuccessfully

Capitalincrease–OnDecember02,2013theExecutiveBoarddecidedtoincreasethecapitalstockofThyssenKruppAG by a nominal €131,709,191.68, i.e. around 10% of the capital stock, by issuing 51,448,903 new shares excluding shareholders' subscription rights. On December 03, 2013 the newly issued shares were placed with German and internationalinstitutionalinvestorsatapriceof€17.15pershareinanacceleratedbookbuildingprocess.Theplacement resultedingrossproceedsof€882.3million,whichcontributedtostrengtheningequityandreducingnetfinancialdebt.The capitalstock of ThyssenKruppAG is now €1,448,801,144.32 and is divided into 565,937,947 no par bearershares. The speedoftheplacementandthefactthatitwasalmostthreetimesoversubscribedbymainlylong-terminvestorsconfirms thetrustofthecapitalmarketinthelong-termstrategyofThyssenKrupp.

Bond–OnFebruary19,2014ThyssenKruppAGissueda€1.25billionbondwithamaturityoffiveyearsandeightmonths underits€10billiondebtissuanceprogram.Withanorderbookofover€6billionthebondwasverywellreceivedbythe capitalmarket.Thebondcarriesacouponof3.125%p.a.atanissuepriceof99.201%.Theissuetookadvantageofthe good market environment and achieved a historicallyfavorable couponfor ThyssenKrupp. It also extendedthe maturity profileofthecompany'sfinancialdebtandstrengthenedthecapitalmarketshareofitsfinancingmix.

Syndicated credit facility – On March 28, 2014 ThyssenKrupp agreed a new €2.0 billion syndicated credit line with its financial partners. Thefacility has an initialtermto March 28, 2017. Atthe end ofthefirst and second years it can be extendedbyayearineachcasewiththeapprovalofthelenders.Thenewcreditlinereplacesthe€2.5billioncreditfacility thatwouldhaveexpiredinJuly2014.

Capitalexpendituresdownyear-on-year

Inthefirst9months2013/2014ThyssenKruppinvestedatotalof€672million,comparedwith€958millioninthefirst9 months 2012/2013. €99 million of the decline was attributable to the discontinued operations and resulted from the absence ofexpenditures atStainlessGlobal on completion ofthe disposal.In additioncapitalexpenditures decreased at ComponentsTechnologyduetodeferralswithintheyearandwerealsoloweratSteelAmericasforportfolioreasons.

In the first 9 months of the current fiscal year we spent €304million on the capital goods businesses, including €212million at Components Technology. The majority ofthe budgetfor our components business relatestothe growth regionsBICandNAFTA.ElevatorTechnologyinvestedinexpandingandmodernizingitsplantsinGermanyandChinaaswell as further strengthening its service business through acquisitions. Industrial Solutions invested mainly in its Resource Technologies business in service centers in Brazil and Chile and a fabrication site in Australia as well as in patent applications.We invested atotal of €362million in our materials operations. Ofthis, €249million wentto Steel Europe, including for the relining of blast furnace Schwelgern 2, and €58million to Steel Americas. Materials Services invested €55million in the first 9 months among other things in the expansion of its service and processing capacities through smalleracquisitionsaswellastheopeningofanewservicecenterinAlabamaandanewprocessingcenterinBulgaria.

Moreinformationoninvestmentintheexpansionofourgrowthareasisprovidedinthesection"Strategicdevelopmentof theGroup".

Expecteddevelopments

ThefollowingforecastrelatestothecontinuingoperationsoftheGroupafterthereintegrationofSteelAmericas.Itincludes thedisposalgroupThyssenKruppSteelUSAuptotheclosingofthesaleattheendofFebruary2014.TheVDMandAST groupstransferredfromOutokumputoThyssenKruppattheendofFebruary2014arealsoincluded:

Salesandearnings–Fromthepresentperspective,theGroup'sbusinessperformanceinthe2013/2014fiscalyearwillbe characterizedbyamoderaterecoveryoftheglobaleconomy.Theapparenttrends–theendoftheeconomicdownturnin theeurozoneandstabilizationofthepaceofgrowthoutsideEurope–cannotyetberegardedascertain.

Basedontheassumptionsof

generallyslowgrowthinthecoremarketsforourmorecyclicalmaterialsandcomponentsbusinessesinthedeveloped worldregionsandcontinuinggrowthintheemergingeconomies,and
nomajordislocationsontherawmaterialsmarkets

ourcurrentexpectationsforThyssenKruppinfiscal2013/2014areasfollows:

TheGroup'ssalesonacomparablebasisshouldgrowyear-on-yearbyamidtohighersingle-digitpercentagerate.
Capitalgoodsbusinesses: Thehigh orderbacklogsatElevator TechnologyandIndustrialSolutions alreadysecurethe expectedsalesgrowthwellbeyondthefiscalyear.AtComponentsTechnologythenewplantsinChinaandIndiashould deliverincreasingsalescontributions.
Materialsbusinesses:AtMaterialsServicesselectivegrowthinitiativesandtheintegrationoftheVDMandASTgroups areexpectedto result in highersales,whilesales atSteel Europewill beslightly lower dueto portfoliomeasures. At Steel Americas, continuingtechnical optimization and increasing penetration ofthe slab markets in North and South AmericashouldoffsettheabsenceofThyssenKruppSteelUSA'ssalesfollowingthedisposal.

• AdjustedEBITfortheGroupshoulddoubleyear-on-yearHadjustedEBIT2012/2013:€586million,restatedI.Apartfrom SteelAmericasallbusinessareaswillmakepositivecontributions.Asaresultofoperatingprogress,SteelAmericas'loss willagaindeclinesignificantly.Inaddition,theexpectedgrowthinourhighlyprofitablecapitalgoodsbusinessesandour GroupwideeffortstoenhanceperformanceundertheimpactprogramwillcontributetoimprovingtheGroup'searnings. Elevator Technology in particular will further improve its earnings and margin. An earnings improvement is likewise expected at Industrial Solutions. In our materials businesses we expect Steel Europe – despite continuing strong competition–todeliverahigherearningscontributionduetoefficiencygainsfromthe"Best-in-ClassReloaded"project.

Our goal in the subsequent years continues to be to strengthen our equity through a return to net profit; for fiscal 2013/2014,weexpectasignificantimprovementyear-on-yearwithbreak-eventoslightlypositivenetincome.

Wewillalsoworkhardtoimprovecashgenerationfromoperatingactivitiesonasustainablebasisandfurtherreducenet financialdebt.

Ourfinancingandliquiditywillremainonasolidbasisinfiscal2013/2014andabletocushionfluctuationsresultingfrom suddeneconomicchanges.Inadditiontothesuccessfulcapitalincrease,theproceedsfromthesaleoftheThyssenKrupp SteelUSArollingandcoatingplantinCalvert/Alabamawillfurthersignificantlyreduceournetfinancialdebtandgearing;in addition, the stringent implementation of our Strategic Way Forward and the efficiency measures under impact will substantially improve the earnings and competitive profile of the Group. Capital spending in the Group as a whole is expectedtobeunchangedyear-on-year.

Fiscalyear2014/2015

Inthe2014/2015fiscalyearwewillcontinuetoworkonthestructuralimprovementoftheGroupandrigorouslyimplement our integrated strategic development plan. This may include among other things targeted growth stimulus and further portfoliooptimization.Assumingtheglobaleconomycontinuesitsmoderate recovery,theeconomicdownturnintheeuro zone is over and the pace of growth outside Europe stabilizes, we expect our sales to increase further in line with the generalgrowthoftheeconomy.Risingsalesandstructuralimprovementsshouldhaveacorrespondinglypositiveimpacton earnings. In 2014/2015 we additionally expectfurther significant improvements onthe earnings side as a result ofthe corporate programs initiated, in particular "impact 2015", and the continuous stimulus to efficiency provided by benchmarking. We therefore also expect an improvement in the equity and financing situation in 2014/2015. More informationonourcorporateprogramscanbefoundinthesection"StrategicdevelopmentoftheGroup".

Businessareareview

ComponentsTechnology

ComponentsTechnologyinfigures

		9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
Orderintake	million€	4,223	4,623	9	1,539	1,611	5
Sales	million€	4,222	4,586	9	1,517	1,603	6
EBIT15	million€	149	187	26	43	65	51
EBITmargin	%	3.5	4.1	—	2.8	4.1	—
AdjustedEBIT15	million€	183	208	14	80	70	4135
AdjustedEBITmargin	%	4.3	4.5	—	5.3	4.4	—
Employees4June305		27,562	28,500	3	27,562	28,500	3

¹⁵Prior-yearfigureshavebeenadjusted.

TheComponentsTechnologybusinessareaproducesandmarketshigh-techcomponentsworldwidefortheautomotiveand machinery sectors. In the auto sector the product range includes assembled camshafts, cylinder head modules with integratedcamshafts,andcrankshafts HPowertrainI,steeringanddampingsystems,springsandstabilizersaswellasthe assembly of axle modules HChassisI. In the machinery sector Components Technology supplies components for constructionequipment,windturbinesandnumerousgeneralengineeringapplications.Thisbroadspectrumofproductsis basedonyearsofexperienceinbothforgingandcoldforming.Togetherwithexpertiseinmachiningandcomplexassembly processes, Components Technology has development and manufacturing know-how for high-performance components alongtheentirevaluechain.

Orderintakeandsaleshigher

Components Technology continued its strong performance in the 3rd quarter 2013/2014 and achieved order intake of €4.6billioninthe9-monthperiod,ayear-on-yearincreaseof9%,or13%onacomparablebasis.3rd-quarterorderintake increasedbyaround5%year-on-yearto€1.6billion,despitenegativecurrencytranslationeffectsmainlyfromtheUSdollar andBrazilianreal;onacomparablebasisthegrowthwas8%.

Inthe automotive businessthe recovery incar andtruckcomponents inwesternEuropecontinued. Thecarmarkets in ChinaandtheNAFTA region remainedpositiveandthedemand recoveryfortruckandoff-highwayvehiclesintheUSA alsostrengthened.However,themarketsinIndiaandBrazil remainedweakduetoeconomicuncertainty.AtPowertrain andChassis,businesswasstrongpartlyasaresultofnewproductlaunchesinthemid-sizeandpremiumsegments.The build-outofournewplants,aboveallinAsiaandSouthAmerica,continuestomakegoodprogress.Inviewofthegrowing marketopportunitiesinAsia,weopenedanewplantforsteeringanddampersystemsinShanghaiatthebeginningof July 2014. It has several production lines manufacturing steering components such as steering shafts and electronic steering systems for the mid-size and premium segments. Another production line for passive damper systems is currentlybeingrampedupandwillgointofullproductionshortly.

Intheindustrialcomponentsbusinesstherecoveryfromtheweakprior-yearlevelscontinued.DemandinChinainparticular resulted in higher orders for wind turbine components. However there was no reversal in the weak demand trend for constructionequipmentcomponentsinwesternEurope.

Followingthetrendinorders,salesinthe9-monthperiodalsoincreasedsignificantlyyear-on-year,by9%to€4.6billion;on acomparablebasissaleswere12%higher.3rdquartersalesimprovedyear-on-yearby6%,onacomparablebasisby9%, andwereupslightlyfromthestrongpriorquarter.

	Components Technology order intake				Components Technology adjusted EBIT
	in million $\epsilon$ , quarter on quarter rate of change				in million $\epsilon$ , quarter on quarter rate of change*
Q1			1,324	Q1			41
Q2		$+3%$	1,360	Q2		$+51%$	62
Q3		$+13%$	1,539	Q3		$+29%$	80
Q ₄		(3)%	1,492	Q ₄		(29)%	57
	2012/2013				2012/2013
Q1		(4)%	1,439	Q1		$+11\%$	63
Q2		$+9%$	1,573	Q2		$+19%$	75
Q3		$+2%$	1,611	Q3		(7)%	70
	2013/2014				2013/2014

*FiguresforQ12012/2013toQ12013/2014havebeenadjusted.

Earningsandmarginhigherinthefirst9months

At €208million in the 9-month period, adjusted EBIT of Components Technology was higher year-on-year, reflecting increasedsalesand aboveall performance improvementsdueto restructuringandefficiencymeasuresintroducedinthe prioryearunderthecorporateprogramimpact.

AdjustedEBITinthe3rdquartercameto€70million,downfromtheprior-yearquarter.Itcontinuestoincludestartupcosts fornewplants,productsandproductionramp-ups,andwasadditionallyimpactedbyexpensestorectifydamagetopress linesinthecrankshaftsarea,inpartinpreparationforamajorrepair.

EBITforthefirst9monthscontainsspecialitemsmainlyresultingfromrestructuringexpensesforpersonnelmeasuresin constructionequipmentcomponentsHBercoIandsteeringsystemsHChassisI.

Thespecialitemsinthe3rdquartermainlyincludeprovisionsfortheplannedreorganizationofdevelopmentactivitiesinthe steeringsystemsbusinessHChassisI,includingtherestructuringofthedevelopmentlocationinEsslingen.Thedevelopment unitsforelectronicandmechanicalsteeringgearsaretobecombinedattheEschendevelopmentcenterinLiechtenstein. Theaimofthiscombinationistoimprovethespeedandcost-efficiencyofdevelopmentwork.

ElevatorTechnology

ElevatorTechnologyinfigures

		9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
Ordersinhand4June305	million€	3,778	3,970	5	3,778	3,970	5
Orderintake	million€	4,945	5,074	3	1,696	1,692	0
Sales	million€	4,482	4,634	3	1,562	1,609	3
EBIT	million€	459	476	4	155	184	19
EBITmargin	%	10.2	10.3	—	9.9	11.4	—
AdjustedEBIT	million€	487	531	9	172	193	12
AdjustedEBITmargin	%	10.9	11.5	—	11.0	12.0	—
Employees4June305		48,488	49,707	3	48,488	49,707	3

TheElevatorTechnologybusinessareasuppliespassengerandfreightelevators,escalatorsandmovingwalks,passenger boardingbridges,stairandplatformliftsaswellasprovidingservicefortheentireproductrange.Over900locationsforma tight-knitsalesandservicenetworkkeepingusclosetocustomers.

Orderintakehighdespitenegativeexchangerateeffects;ordersinhandatrecordlevel

Orderintakeinthefirst9monthswas3%higheryear-on-yearatalmost€5.1billion.Onacomparablebasis,i.e.aboveall withoutnegativeexchangerateeffectsfromourbusinessinAmericaandAsia,thegrowthinorderintakewas7%,mainly reflectingthe positive situation in China,the USA and South Korea. Inthese countries Elevator Technology continuesto profit from increased demand for new installations. In the 3rd quarter order intake was level with the prior year at €1.7billion, but on a comparable basis likewise increased by 4%. Quarter-on-quarter all business units of Elevator Technologyachieved growth andcontinuedthe positivetrendwith atotalincrease of7%.Ordersin hand reachedanew recordhighof€4.0billion.

Pleasingsalesgrowth

Inthefirst9monthsofthefiscalyearElevatorTechnologyachievedsalesof€4.6billion,up3%year-on-yearbothforthe9 monthperiodandforthequarter.Adjustedforexchange rateeffects,theincreasewas8%.ElevatorTechnologyachieved positivegrowthratesinoperatingbusinessparticularlyinNorthandSouthAmerica,ChinaandKorea–drivenbythestrong marketsituation in connectionwith high demandfor new installations. Againsttheseasonallyweaker 2nd quarter,sales roseby9%.

Performanceprogramhavinganeffect

In the first 9 months 2013/2014 Elevator Technology improved its adjusted EBIT year-on-year by 9% to €531million despitenegativeexchangerateeffects.Thispositivetrendwasalsoseeninthe3rdquarter,withadjustedEBIT12%higher year-on-yearat€193million.Inthefirst9monthsadjustedEBITmargingained0.6percentagepointsyear-on-year,andat 12%inthe3rdquarterwas1percentagepointhigheryear-on-year.Theearningsandmarginimprovementmainlyreflectsa pleasingoperatingperformanceandthepositiveeffectsofperformanceoptimizationandrestructuringmeasuresunderthe corporateprogramimpact.Inthe3rdquarteradjustedEBITwas19%upfromtheseasonallyweaker2ndquarter.

EBITcameto€476millioninthefirst9months.Itincludesspecialitemsof€55million,mainlyforrestructuringmeasures inEuropeinthe1stquarter.

IndustrialSolutions

IndustrialSolutionsinfigures

		9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
Ordersinhand4June305	million€	15,761	14,561	485	15,761	14,561	485
Orderintake	million€	4,376	4,518	3	779	1,035	33
thereofMarineSystems15	million€	273	1,411	417	46	51	11
Sales	million€	4,040	4,466	11	1,306	1,585	21
thereofMarineSystems15	million€	940	1,269	35	237	507	114
EBIT	million€	496	558	13	157	190	21
EBITmargin	%	12.3	12.5	—	12.0	12.0	—
AdjustedEBIT	million€	476	562	18	156	190	22
AdjustedEBITmargin	%	11.8	12.6	—	11.9	12.0	—
Employees4June305		18,660	19,065	2	18,660	19,065	2

15includingothershareholdingsandconsolidation

UndertheGroup'sstrategicdevelopmentprogram,wereachedkeymilestonesintheintegrationandregionalizationofthe plant engineering business. To better exploit global market opportunities in engineering as a major growth area forthe Group,inJanuary2014wecombinedthepreviouslyseparatecompaniesThyssenKruppUhdeandThyssenKruppResource Technologies Hcreated from ThyssenKrupp Polysius and ThyssenKrupp FördertechnikI under the roof of ThyssenKrupp Industrial Solutions. As a global, integrated engineering and construction company, ThyssenKrupp Industrial Solutions focuses market strategy, presents a single face to the customer and supports the global exchange of knowledge and engineeringandprojectmanagementcapabilitiesacrossallitsbusinesses.Thiswillhelpusachieveourgrowthtargetsand increaseefficiency.

Inadditiontotheplantengineeringoperations,managedbythetwobusinessunitsProcessTechnologiesHpreviouslyUhdeI andResourceTechnologies HpreviouslyPolysiusandFördertechnikI,theIndustrialSolutionsbusinessareaalsocomprises the Marine Systems and System Engineering business units. The product portfolio encompasses chemical plants and refineries HProcess TechnologiesI, equipment for the cement industry and innovative solutions for the mining and processingofrawmaterialsHResourceTechnologiesI,navalshipbuildingHMarineSystemsI,andproductionsystemsforthe autoindustryHSystemEngineeringI.

Higherorderintakeandsales

IndustrialSolutionscontinuestoperformverypositively.Startingfromanalreadyveryhighlevel,orderintakeinthefirst9 months2013/2014wasupbyafurther3%year-on-yearat€4.5billion.Onacomparablebasis–adjustedinparticularfor exchange rateeffects–theincreasewas7%.Againstthe3rd quarter2012/2013, orderintake gainedasmuchas33%. Sales in the first 9 months 2013/2014 rose 11% to €4.5billion; on a comparable basis sales were 15% higher. At €1.6billion,salesinthe3rdquarterwereupyear-on-yearbyasteep21%,benefitingfromtherecognitionofrevenuesfrom anumberofmajorcontracts,particularlyatProcessTechnologies.

ProcessTechnologieswasunabletomatchitsveryhighorderintakeofthefirst9months2012/2013,whichwasmainly drivenbytheshalegasboomandlargeordersforfertilizerplantsintheUSA.However,3rdquarternewordersincreased significantlyyear-on-year.

Resource Technologies recorded brisk demand particularly for cement plants and increased its order intake slightly comparedwiththefirst9months2012/2013.WithtwocementlinesinBoliviaandSaudiArabia,weagainwonmajororders inkeygrowthregions.However,demandfornewminingequipmentremainedweakeroverallinthe3rdquarter.

Inthefirst9monthsthemarketforSystemEngineeringshowedaslightdeclineyear-on-year.However,inthe3rdquarter 2013/2014orderintakepickedupsharply,particularlyasaresultofordersintheautomotivesectorintheUSAandUK.We continuetoseegoodprojectopportunitiesinproductionsystemsforboththeautomotiveandaerospaceindustries.

The high level of new orders at Marine Systems in the first 9 months 2013/2014 was mainly due to a major contract received in the 1st quarter to supply two submarines to Singapore. In view of the announcement by the Swedish governmentthatfuturenavalshipbuildingprogramswillbecarriedoutnationally,wereachedagreementwithSaabatthe endofJune2014onthesaleoftheSwedishshipyardThyssenKruppMarineSystemsABHformerlyKockumsIwithsitesin Malmö,KarlskronaandMuskö.Thesaleoftheoperations,whicharemainlyfocusedonrepairanddesign,wascompleted onJuly22,2014.WeareconcentratingournavalshipbuildingoperationsatthesitesinKiel,HamburgandEmden.These operationsdeliverareliablecontributiontotheGroup'searnings.

The generally solid order situation ofthe Industrial Solutions business area gives us a continuing high order backlog of €14.6billion,providinglong-termplanningcertaintyandcapacityutilizationforthenexttwotothreeyears.

	Industrial Solutions order intake			Industrial Solutions adjusted EBIT
	in million $\epsilon$ , quarter on quarter rate of change			in million $\epsilon$ , quarter on quarter rate of change
Q1			2,002	Q1		140
Q2		(20)%	1,595	Q2	$+29%$	180
Q ₃		(51)%	779	Q ₃	(13)%	156
Q ₄		$+16%$	907	Q ₄	$+5%$	164
	2012/2013			2012/2013
Q1		$+153%$	2,295	Q1	$+5%$	173
Q2		(48)%	1,188	Q2	$+15%$	199
Q3		(13)%	1,035	Q3	(5)%	190
	2013/2014			2013/2014

Significantearningsimprovement,continuinggoodmarginquality

Adjusted EBIT in the first 9 months 2013/2014 improved again by a significant 18% year-on-year to €562million. 3rd quarteradjustedEBITshowedanevenlarger22%increaseat€190million.Theclearearningsimprovementprofitedfrom order billings inthefertilizer business of Process Technologies and efficiency gains in all business units. Adjusted EBIT margininthefirst9monthsalsoincreasedyear-on-yearandwasagainwellwithinthedoubledigittargetcorridorat12.6% H9 months 2012/2013: 11.8%I. 9-month earnings were impacted slightly by special items of €4million, mainly due to restructuringmeasuresinthe2ndquarter.AccordinglyEBITfortheperiodcameto€558million.

MaterialsServices

		9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
Orderintake	million€	8,800	9,956	13	3,047	3,700	21
Sales	million€	8,794	9,839	12	3,056	3,780	24
EBIT	million€	4705	124	++	51	44	4145
EBITmargin	%	40.85	1.3	—	1.7	1.2	—
AdjustedEBIT	million€	160	148	485	62	58	465
AdjustedEBITmargin	%	1.8	1.5	—	2.0	1.5	—
Employees4June305		25,994	30,467	17	25,994	30,467	17

MaterialsServicesinfigures

With some 500 locations in 35 countries, the Materials Services business area specializes in materials distribution and technicalservices.InconnectionwiththeendingofallfinanciallinkswithOutokumputhefullVDMgroup,theASTgroup withitsplantsandtheItalianservicecenteraswellasfurtherstainlesssteelservicecentersinGermany,France,Spainand TurkeyweretransferredfromOutokumputoThyssenKruppandassignedtotheMaterialsServicesbusinessareawitheffect fromFebruary28,2014.Thesecompaniesandbusinesseshavebeenincludedinthebusinessarea'sfiguressinceMarch 01,2014.ASTinparticularistoprofitfromthebusinessarea'sglobaldistributionorganizationinthefuture.

Highersalesinalmostallregions

In the first 9 months of the fiscal year, the companies in the Materials Services business area sold 9.7million tons of materials,anincreaseofalmost30%.Inaddition,over400,000tonsofmaterialwassoldbythenewunitsVDMandAST. Warehouseshipments ofmetalswere up5%year-on-yearat4.2milliontons. Thewarehousingbusinessalsoincludesa widerangeofservicessuchasprimaryprocessingaswellasinventorymanagementforourcustomers.3rdquartersales volumeswereimpactedbothyear-on-yearandquarter-on-quarterbyourwithdrawalfromrolledsteelwarehousebusiness inRussia;wenolongersawanyrealisticchanceofcompetingwiththedirectsalesofRussiansteelproducers.Inallother regionsshipmentsincreasedfurtherthankstointensivesalesinitiatives.Despitecontinuedstrongcompetitionweincreased the volume of direct-to-customer business by almost 20% to 2.7 million tons in the first 9 months. Shipments of raw materials more than doubled to 2.9 million tons, mainly attributable to significantly higher shipments of coke/coal and specialores.Shipmentsofalloysandmetalsalsoincreasedinboththequarterandthe9-monthperiod.

Inthefirst9monthsMaterialsServices'orderintakeatalmost€10billionwas13%higheryear-on-year;onacomparable basis the increase was 4%. In the same period we achieved sales of over €9.8billion, €1billion or 12% more than in 2012/2013.ExcludingVDMandAST,saleswereonlyattheprior-yearleveldespitesignificantlyhighervolumes;thesame appliesto3rdquartersales,bothquarter-on-quarterandyear-on-year.Themainreasonsweresignificantlyloweraverage pricesinthecurrentfiscalyear,productmixchangesinthedirect-to-customerandrawmaterialsbusiness,andtheeuro/US dollar exchange rate. Average prices for rolled steel – and particularly also for stainless steel, nonferrous metals and plastics–werewellbelowprior-yearlevels.Thesamewastrueofmostrawmaterials.

Inconnectionwiththehighgrowthinvolumestherewasanabove-averageincreaseinsalesinourdirect-to-customerand raw materialstrading businesses, while warehouse sales of plastics also recorded double-digit growth. Servicesforthe aerospaceindustry remainedstableatahighlevel.Thesamewastrueofourservicecenterbusinessfortheautomotive sector.Salesofsteelmillserviceswereloweryear-on-yearforportfolioreasons.

The performance programs in connection with impact – primarily aimed at optimizing our logistics network, operating structure,andadministration–werecontinuedwithhighintensityworldwide;inallregionsandbusinessunitsthenumber ofemployeeswasadjustedinlinewiththemarketsituation.InEuropethelegalentitiesarebeingfurther reduced.Atthe sametimetheharmonizationandoptimizationoftheITlandscapeisprogressingsystematically;morethan7,000usersin thebusinessareanowworkonastandardSAPtemplate.

Materials Services remainsfocused onexpanding itssector-specific portfolios of products, logisticsandservices. A new competenceandcoordinationcenteriscurrentlybeingsetupfortheoilandgasindustry.AfterTunisia,anewbaseforthe aerospace industry in India started operation. In Mexico the warehousing and processing capacities for the automotive industryweremodernizedandexpanded.

ThetransferofVDM,ASTandthestainlesssteelservicecentersaddedmorethan5,000peopletotheMaterialsServices workforce. The integration of the service centers in Germany, France, Spain and Turkey into the existing business area organizationiscomplete.InrecentmonthswecarriedoutadetailedanalysisofthebusinessmodelsandplansofVDMand AST. In particular for AST an extensive new business plan was developed which provided for an intensification and restructuringofsalesaswellasfar-reachingrestructuringmeasuresinproductionandadministrationwithaconsiderable reductionintheworkforce.Thedetailswillbethesubjectofintensivenegotiationswiththestakeholdersoverthecoming months.AtVDMthefocusnowisonintensifyingandsupportingtherestructuringprogramsandgrowthinitiativesalready identified.

AdjustedEBITlargelystableindifficultpriceandcompetitiveenvironment

Inadifficultpriceandcompetitiveenvironment,adjustedEBITof€148millioninthefirst9monthsand€58millioninthe 3rdquarter2013/2014waslargelylevelwiththecorrespondingprior-yearperiodsthankstointensivesalesinitiativesand performanceprograms.WiththeexceptionofthenewunitsASTandVDM,whichmadeanegativecontributionofaltogether €5million,allbusinessoperationsmadepositivecontributionstoearnings.

EBIT cameto €124million, up €194millionfromthe prior year. The comparable period in 2012/2013was impacted by specialitemsof€230million,mainlyforexpenseinconnectionwiththe railcartel.Thespecialitemsinthecurrentfiscal year mainly comprise a disposal gain in the raw materials trading business and various restructuring and impairment charges,inparticularforouroperationsinRussiaandSpain.

SteelEurope

SteelEuropeinfigures

		9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
Orderintake	million€	7,338	6,882	465	2,315	2,178	465
Sales	million€	7,327	6,691	495	2,562	2,228	4135
EBIT	million€	33	164	397	14	92	557
EBITmargin	%	0.5	2.5	—	0.5	4.1	—
AdjustedEBIT	million€	101	184	82	62	103	66
AdjustedEBITmargin	%	1.4	2.7	—	2.4	4.6	—
Employees4June305		27,609	26,047	465	27,609	26,047	465

TheSteelEuropebusinessareastandsforthedevelopment,productionandmarketingofpremiumflatcarbonsteel,mainly in the European market. Key customers are the auto industry and other steel-using sectors. The range also includes productsforattractivespecialistmarketssuchasthepackagingindustry.

Ordersandsalesdownduetodisposalsandlowerprices

SteelEurope'saveragevolumeofbusinessoverthefirst9monthswasloweryear-on-year.Thedeclinewasduepartlyto disposalsandpartlytocontinuedinadequatesteelpricesontheEuropeanmarket.Orderintakecameto€6.9billion,down 6%fromtheprior-yearperiodbutlargelystableonacomparablebasis.Ordervolumeswereslightlyhigheronaveragethan a year earlier. Howeverthe 3rd quarter was slightly weakerthanthe prior quarter, which was characterized by stronger marketgrowthandstockbuildingbyourcustomers.

Sales inthe reporting periodfell by 9%to €6.7billion.On acomparable basis – in particularexcludingthesoldtailored blanksbusiness–thedropinsaleswas2%.Themainreasonwasloweraveragenetsellingprices;fromthe2ndquarter the previous negative trend in spot market prices was reflected in mainly lower price agreements with our customers. Shipments decreased in total by 2% to 8.5million tons, and on a comparable basis increased by 1%. Shipments of medium-wide strip and heavy plate showed substantial growth year-on-year. In the 3rd quarter shipment targets were missedbecauseofadropinproductionduetooperationalissuesandsignificantdisruptionstoourproductionandshipping logistics duetoastorm.StormElacaused damageto ourmainmeans oftransportation,the rail network, intheformof destroyed overheadwires and blocked lines, affecting our shipments intothe 4thfiscal quarter. As aresult, 3rd-quarter sales volumes were 8% lower quarter-on-quarter; only tinplate profited from the seasonal improvement and registered increasingvolumes.

Increasedcrudesteelproductioninpreparationforblastfurnacerelining

At9.7milliontons,crudesteelproductioninthereportingperiodincludingsuppliesfromHüttenwerkeKruppMannesmann HHKMIwas11%higheryear-on-year.ProductionandslabpurchasesfromHKMwereincreasedinthemonthsleadingupto thereliningofblastfurnace2inDuisburg,whichbeganonscheduleinJune.AlsoinJunewebeganpurchasingslabsagain foralimitedperiodfromourBrazilianplantThyssenKruppCSAtofurtheroptimizethesupplyofstartingmaterialduringthe reline.Overthefullreportingperiodrolledsteelproductionforcustomerswaslevelwiththeprioryearat9.0milliontons.In the3rdquarterstorm-relatedlogisticaldisruptionsaswellasoperationalissuesledtotemporarystoppages.Asaresult3rd quarterrolledsteelproductionfellsharplyyear-on-year.

"Best-in-ClassReloaded"takingeffect:EBITsignificantlyhigherindifficultmarketenvironment

AdjustedEBITinthe reportingperiodincreasedby€83millionto€184million.ExcludingtheprofitofTailoredBlanksstill contained a year earlier, the operating earnings improvement was even more pronounced. Within the year the already positivetrend ofpreviousmonthscontinuedinthe3rd quarter:AdjustedEBITwassignificantly upfromtheprevioustwo quarters at €103million. While the inadequate steel price level continued to impact earnings, the systematic implementation of measures among other things under the "Best-in-Class Reloaded" program had positive effects on earnings.Reducedrawmaterialcostsalsocontributedtotheimprovementinearnings.Specialitems,mainlyrestructuring charges,impactedearningstoamuchlesserextentthanayearearlier;EBITinthefirst9monthscameto€164million.In theprioryear,significantexpensesinconnectionwith"Best-in-ClassReloaded"resultedinEBITof€33million.

SteelAmericas

SteelAmericasinfigures

		9months 2012/2013	9months 2013/2014	Change in%	3rdquarter 2012/2013	3rdquarter 2013/2014	Change in%
Orderintake	million€	1,565	1,595	2	496	412	4175
Sales	million€	1,462	1,514	4	473	441	475
EBIT15	million€	43595	126	++	41935	8	++
EBITmargin	%	—	8.3	—	—	1.8	—
AdjustedEBIT15	million€	43595	4275	92	41935	16	++
AdjustedEBITmargin	%	—	—	—	—	—	—
Employees4June305		4,100	3,446	4165	4,100	3,446	4165

¹⁵Prior-yearfigureshavebeenadjusted.

WithitssteelmillinBrazilHThyssenKruppCSAItheSteelAmericasbusinessareasuppliestheAmericanmarketwithhighqualityslabs.AspartoftheStrategicWayForwardThyssenKrupphaddecidedtoselltheThyssenKruppSteelUSArolling andcoatingplantinCalvert/Alabama;acontractonthesalewassignedwithaconsortiumofArcelorMittalandNipponSteel &SumitomoMetalCorporationonNovember29,2013,andtheclosingtookplaceonFebruary26,2014.Theagreement alsoincludesalong-termslabsupplycontractfortheBraziliansteelmill.Consequently,theSteelAmericasbusinessarea– whichhadbeenclassifiedasadiscontinuedoperationinaccordancewithIFRS–wasreclassifiedasacontinuingoperation atthe end ofthe 2012/2013fiscal year;withinthe business area, ThyssenKrupp Steel USAwas reported as a disposal groupuntiltheendofFebruary2014.

Increasesinorders,salesandproduction

At€1.6billion,orderintakeinthefirst9months2013/2014wasup2%year-on-yeardespitenegativeexchange rateand portfolioeffects.Thecontributionsfrom ThyssenKruppSteelUSA areincluded uptotheclosing ofthesaleattheendof February 2014.On a comparable basis new orders increased by 15%. 3rd quarter order intakewas 17% lower year-onyear;onacomparablebasishoweverordersgained2%.Quarter-on-quarterthevalueofordersreceiveddecreasedby28% duetothesaleofThyssenKruppSteelUSA,butordervolumeswereupby13%atalmost1.1milliontons.At€1.5billion, salesinthefirst9monthswere4%higherthanayearearlier,reflectinginparticularhighershipmentsandsellingprices;on acomparablebasissalesincreasedby14%.3rdquartersalesweredownbothquarter-on-quarterandyear-on-year,buton a comparable basis they showed a sharp rise – year-on-year the increase was 4%. The Brazilian steel mill raised slab productionto3.1milliontonsinthefirst9months,19%higherthanayearearlier.1.9milliontonsofslabswassuppliedto the rolling and coating plant in Calvert/Alabama, and 0.2milliontonsto Steel Europe. With demandforthe high-quality slabsbrisk,goodprogressisbeingmadewithbuildingacustomerbaseinNorthandSouthAmerica.

*FiguresforQ12012/2013toQ12013/2014havebeenadjusted.

Clearimprovementinearnings

AdjustedEBITinthereportingperiodimprovedby€332millionyear-on-yearto€H27Imillion.Thispleasinggrowthwasdue in particular to higher and more efficient capacity utilization, cost optimization, structurally improved reducing agent consumption,savingsmeasuresfromthecorporateprogramimpact,andpositivepriceeffectsontheNorthAmericanflat steelmarket.3rdquarteradjustedEBITalsoshowedamarkedimprovementontheprioryear,whichwasimpactedbyan unscheduledseveralweek-longstoppageofblastfurnace2.Quarter-on-quarter,earningslikewiseincreased,reflectingan insurancerecoveryfromtheblastfurnacedamagelastyearaswellasfurtheroperatingprogress.

EBIT came to €126million in the first 9 months 2013/2014, €485million higher than the year before; in addition to operatingimprovements,thiswasmainlyduetohighpositivespecialitemsfromthedisposaloftheUSsiteinCalvertinthe 2nd quarter and positive net special items from the updated valuation of a long-term freight agreement. The negative special items in the 3rd quarter 2013/2014 mainly result from the valuation effect of the above-mentioned freight agreement,whichinthe3rdquarterwasnegative.

Thechangeinthenumberofemployeesmainly reflectsthe reallocationatthebeginningofthefiscalyearofasteelmill service provider working for ThyssenKrupp CSA from Materials Services to Steel Americas, and the sale of the ThyssenKruppSteelUSArollingandcoatingplantinFebruary2014.

CorporateatThyssenKruppAG

Corporate comprises the Group's head office and the shared service activities. The Group is managed centrally by ThyssenKrupp AG as corporate headquarters. To achieve greater global integration, the Group has adopted a threedimensionalmanagementstructureHnetworkorganizationImadeupofoperatingbusinesses,functionsandregions.Aspart ofthisnewmanagementmodel,regionalheadquartersarenowoperatinginBrazil,India,ChinaandtheAsia/Pacificregion. TheregionalheadquartersinNorthAmericahasbeenfullyoperationalsincethebeginningofthepriorfiscalyear.

The shared services activities comprise Business Services Hfinance and human resourcesI, IT and Real Estate including non-operatingrealestate.SalesofservicesbyCorporatecompaniestoGroupcompaniesandexternalcustomerscameto €126millioninthefirst9months,€15millionlessthanintheprior-yearperiod.

AdjustedEBITatCorporateinthefirst9months2013/2014was€H358Imillion,comparedwith€H310Imillionayearearlier. Cost reductionsunderimpactcould only partlyoffset higherexpensesforcorporateinitiatives,inparticularthedataand process harmonization program HdaprohI.Inthe 3rdquarter 2013/2014 adjusted EBITcameto €H136Imillion,compared with€H93Imillionayearearlier.

EBITinthefirst9monthscameto€H453Imillion,comparedwith€H334Imillionintheyear-earlierperiodandwasimpacted by net special items of €95million. These special items include in particular incomefromthe deconsolidation ofthe US shellcompanyTheBuddCompanyinconnectionwithitswindingdowninaChapter11caseandalossfromthecompletion ofthesaleoftheOutokumpuinvestmentinthe2ndquarter2013/2014.Inthe3rdquarterspecialitemsamountedtoonly €2million.

StainlessGlobal4discontinuedoperation5

ThemergeroftheStainlessGlobalbusinessareawiththeFinnishcompanyOutokumpuwascompletedonDecember28, 2012.Inthe 1st quarter 2012/2013 upto itsexitfromtheGroup, StainlessGlobal achieved order intake of €1.3 billion, sales of €1.4 billion and EBIT of €72 million. After the exit, income and expenses were recorded in the first 9 months 2013/2014whichweredirectlyassociatedwiththesaleofStainlessGlobalandresultedinnetEBITof€184million.These relatemainlytothe1stquarter2013/2014andreflectthereversalofprovisionsrecognizedinconnectionwiththesaleof InoxumtoOutokumpufortheobligationtooffsetanynegativefinancialconsequencesforOutokumpuundermergercontrol requirements.

Resultsofoperationsandfinancialposition

Analysisofthestatementofincome

At€30,146million,netsalesfromcontinuingoperationsinthefirst9months2013/2014were€1,497millionor5%higher thanayearearlier.Costofsalesfromcontinuingoperationsincreasedby€931millionor4%andthusatalowerratethan sales. The increase was mainly due to higher material expense. Gross profit from continuing operations improved correspondinglyby€566millionto€4,634million,whilegrossprofitmarginincreasedto15%.

The€27millionincreaseinsellingexpensesmainly reflectedhigherexpensesforsales-relatedfreight,insurancecharges andcustomsdutiesaswellasincreasedallowancesfordoubtfulaccounts.

The €63 million increase in general and administrative expenses from continuing operations resulted mainly from restructuringexpenseincurredinthereportingperiodintheElevatorTechnologybusinessareaandhigherconsultingand ITexpenses.

The€232milliondecreaseinotherexpensesfromcontinuingoperationsrelatedmainlytotheprovisionsrecognizedinthe prioryearintheMaterialsServicesbusinessareainconnectionwiththerailcartel.

Othergainsattributabletocontinuingoperationswere€351millionhigherthanayearearlier.Thiswasmainlyduetothe winding-downinthereportingperiodofthenon-operatingUScompanyTheBuddCompanyandthesaleofThyssenKrupp SteelUSA.

The€53millionimprovementinincomeattributabletothecontinuingoperationsfrominvestmentsaccountedforusingthe equitymethodwasmainlyduetotherecognitionoflowerlossesasaresultofthecessationofequitymethodaccounting forthesharesinOutokumpuOyjinthe1stquarter2013/2014.The€339millionriseinfinancingincomefromcontinuing operationswasmainlythe resultofhigherexchange rategainsinconnectionwithfinancetransactions.The€592million increase in financing expense from continuing operations was mainly due to higher currency losses in connection with financetransactionsandtothelossfromthesaleoftheshareholdinginOutokumpuOyj.

Theincomefromcontinuingoperations HbeforetaxIof€301million resultedintaxexpensefromcontinuingoperationsof €251 million in the reporting period, mainly in connection with non-tax-deductible expense from the Outokumpu shareholdinganditssaleand–asintheprioryear–valuationallowancesfordeferredtaxassets.

Aftertakingintoaccountincometaxes,incomefromcontinuingoperationscameto€58million.

The discontinued operations achieved income of €184 million inthe reporting period compared with €64million a year earlier. The €120million increasewasmainly dueto a €266million improvement in current incometo €184million;this mainly reflectsthe reversal ofthe provisionfor possibleeffectsfrommerger control requirements inconnectionwiththe saleofInoxumtoOutokumpu.Thiswaspartlyoffsetbythe€146milliongainonthedisposalofthestainlesssteelbusiness recognizedonlyintheprior-yearperiod.

Includingtheafter-taxincomefromdiscontinuedoperations,netincomeof€242millionwaspostedinthereportingperiod, comparedwithanetlossof€570millionayearearlier.

Inthe reportingperiod,earningspersharebasedonthenetincomeattributabletotheshareholdersofThyssenKruppAG came to €0.44, a year-on-year improvement of €1.46. Earnings per share from continuing operations came to €0.11, comparedwitha€1.15lossayearearlier.

Analysisofthestatementofcashflows

The amountstaken into account inthe statement of cashflows correspondtothe 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 until the time of their actual sale. For the 1st quarter 2012/2013 the discontinuedoperationsincludecashflowsattributabletotheoperationsofStainlessGlobal.

Inthereportingperiodtherewasanetcashoutflowfromoperatingactivitiesof€168million,comparedwithacashinflow of€439millionayearearlier.Ofthe€607million overall deterioration,€801million relatedtothecontinuing operations, whichrecordedacashoutflowof€169millioninthereportingperiodcomparedwitha€633millioncashinflowintheprior yearperiod.Thedeteriorationwasdueinparticulartoanincreaseincapitalemployedinoperatingassetsandliabilities.

Investingactivitiesresultedinanetcashinflowof€388million,comparedwithacashinflowof€71milliontheyearbefore. Themainreasonsforthe€317milliondifferencewerethe€149milliondecreaseincapitalexpendituresforproperty,plant and equipment and intangible assets in the continuing operations as well as the absence of the €99 million capital expendituresinthediscontinuedoperationsreportedayearearlier.Proceedsfromdisposalsofconsolidatedcompaniesin thereportingperiodrelatedmainlytothesaleofThyssenKruppSteelUSA,whiletheprioryearwasimpactedinparticular bythesaleofthestainlesssteelbusinesstoOutokumpu.Inaddition,thewinding-downofthepreviouslyconsolidatednonoperating US company The Budd Company in a Chapter 11 case resulted in a €279 million disposal of cash and cash equivalentsinthe2ndquarter2013/2014.

Free cash flow, i.e. the sum of operating cash flows and cash flows from investing activities, decreased by a total of €290million to a positive €220 million. The absence of prior-year €293 million negative free cash flow from the discontinuedoperationswaspartlyoffsetbya€583millionreductioninfreecashflowinthecontinuingoperationsinthe reportingperiodmainlyduetoreducedoperatingcashflows.

Financing activities resulted in a net cash outflow of €508 million, compared with a cash inflow of €971 million a year earlier.Aswellastheabsenceofcashinflowsfromthediscontinuedoperations,thedifferenceof€1,479millionincluded €1,241millionattributabletothecontinuingoperations.Thismainlyreflectedtwopartlyoffsettingeffects:Inthereporting periodtherewasa€1,221millionnetrepaymentofborrowings,whileintheprior-yearperiodtherewerenetproceedsfrom borrowings of €1,142million. The associated €2,363million reduction was partly offset by cash inflows of €878million fromthecapitalincreasecarriedoutinDecember2013.

Analysisofthestatementoffinancialposition

ComparedwithSeptember30,2013,totalassetsdecreasedaltogetherby€33millionto€35,264million.Thisincludesa currencytranslation-relateddecreaseof€179million,mainlyduetomovementsintheUSdollarexchangerate.

Taking into consideration an exchange rate-relatedreduction of €58million, non-current assets decreased altogether by €930 million. The main reason was the €964 million reduction in other financial assets as a result of the transfer to OutokumpuonFebruary28,2014ofthefinancialreceivablecreatedinconnectionwiththesaleofInoxum.Theoperations ofVDMandASTacquiredinexchangeandconsolidatedforthefirsttimewerethemainreasonforthe€425millionincrease inproperty,plantandequipment.Thedisposalofthe29.9%shareholdinginOutokumpuOyjtomeettherequirementsof theEUinthisconnectionwasthemainreasonforthe€337milliondecreaseininvestmentsaccountedforusingtheequity method.The€114millionincreaseinothernon-currentnon-financialassetsmainlyreflectedadvancepaymentsmadefor property, plant and equipment particularly inthe Steel Europe business area. The €162million decrease in deferredtax assetsmainlyreflectedthewinding-downofthenon-operatingUScompanyTheBuddCompanyinaChapter11case.

Currentassetsincreasedbyatotalof€897million;thisincludedacurrencytranslation-relateddecreaseof€121million.

At €7,864 million, inventories at June 30, 2014 were €1,513 million higher than at September 30, 2013. The rise was mainlyduetothefirst-timeconsolidationofVDMandASTaswellasthereclassificationoftheformerdisposalgroupBerco atMarch31,2014.

Tradeaccountsreceivableincreasedaltogetherby€755millionto€5,711million.Aswellastheaforementionedfirst-time consolidationofVDMandASTandthereclassificationofBerco,thisalsoreflectedincreasedreceivablesinconnectionwith long-termconstructioncontractsintheElevatorTechnologybusinessarea.

The €180 million decrease in other current financial assets was mainly due to the repayment of a receivable from OutokumpuOyj.

The€462millionincreaseinothercurrentnon-financialassetswasmainlyduetoadvancepaymentsmadeinconnection withtheprocurementofinventoriesandotheradvancepaymentsaswellashigherrefundentitlementsinconnectionwith non-incometaxes.

The€302milliondecreaseincashandcashequivalentsmainlyreflectedthe€1,000millionrepaymentofabondinJune 2014 and €1,471million repayment of otherfinancial debt. Thiswas partly offset by proceeds of €878millionfromthe capitalincreasecarriedoutinDecember2013andproceedsof€1,250millionfromtheissueofabondinFebruary2014. The€220millionpositivefreecashflowgeneratedinthereportingperiodalsocontributed.

Assetsheldforsalewere€1,431millionlowerat€112million,mainlyasaresultofthedisposalofThyssenKruppSteelUSA andtheaforementionedreclassificationofBerco.

Total equity atJune 30, 2014was €3,173million, up €661millionfromSeptember 30, 2013. Themain reasonwasthe capitalincreasecarriedoutatthebeginningofDecember2013whichraisedtotalequityby€878million.Thenetincomeof €242millionforthe reporting period also contributedtothe increase. Thiswas partly offset bythe€97million currency translationlossesrecognizedinothercomprehensiveincomeandactuariallossesHaftertaxesIof€360million.Theequity ratioimprovedto9.0%.

Non-currentliabilitiesdecreasedbyatotalof€597million.Thisincludeda€500millionreductioninnon-currentfinancial debt, mainly reflecting a €989 million reduction in liabilities to financial institutions. This was partly offset by the aforementionedissueofa€1,250millionbond,whichinturnwaspartlyoffsetbythereclassificationofa€750millionbond due in March 2015to currentfinancial debt. The €230million decrease in accrued pension and similar obligationswas mainlyduetolowerprovisionsforhealthcareobligationsinconnectionwiththewinding-downofTheBuddCompany.This waspartlyoffsetbyanincreaseasaresultoftheupdatedinterestratesusedfortherevaluationofpensionobligationsat June30,2014.

Current liabilities decreased in total by €97 million. This included a €107 million reduction due to currency translation effects.

The€335millionreductioninothercurrentprovisionswasmainlytheresultofthereversalofaprovisionrecognizedinthe prioryearfor possibleeffectsfrommergercontrol requirements inconnectionwiththesale ofInoxumtoOutokumpu.In addition,aprovision recognizedintheprioryearwasutilizedinthe reportingperiodonthebasisofasettlement reached withDeutscheBahninconnectionwiththerailcartel.

At€4,518million,tradeaccountspayablewereupby€805millionfromSeptember30,2013.Thiswasmainlyduetothe first-timeconsolidationofVDMandASTandthereclassificationofBerco.The€721decreaseincurrentfinancialdebtwas mainly connectedwiththe €1,000million repaymentof a bond inJune 2014 andthe €150million repayment of a note payable inMay2014;inadditiontherewasa€255million reductioninliabilitiestofinancialinstitutions. Thiswas partly offsetbytheaforementioned reclassificationofabondpreviouslyclassifiedasnon-current.The€221milliondecreasein othercurrentfinancial liabilitiesmainly reflectedthe repayment of liabilitiesto associatedcompanies.Higher liabilities in connectionwithlong-termconstructioncontractsandariseinadvancepaymentsreceivedandliabilitiesfromnon-income taxeswerethemainreasonsforthe€559millionincreaseinothercurrentnon-financialliabilities.

The €141 million reduction in liabilities associated with assets held for sale mainly reflected the reclassification of the disposalgroupBerco.

Subsequentevents

Therewerenoreportableevents.

ThyssenKruppstock

ValuepotentialfromStrategicWayForwardakeydriverforthestock

ThyssenKrupp'sstockisperformingverywellinthecurrentfiscalyear.Thegrowthinthestock'svaluehasbeendrivenby progresswiththeStrategicWayForward,as reflectedclearlyinfurtherimprovementsinoperatingbusinessandafurther reductionofrisks.

OnJune30,2014ThyssenKrupp'sstockstoodat€21.29,up20.4%fromSeptember30,2013.InthesameperiodtheDAX andDJSTOXXgained14.4%and12.6%respectively.

Inthe 3rd quarterthestock profitedmainlyfromthe raisedforecastforsales and adjusted EBIT announced inmid-May 2014.InthetwoquartersbeforethatthemainfactorswereportfoliomeasuressuchasthesaleoftheThyssenKruppSteel USA rolling and coating plant, the slab supply contract for ThyssenKrupp CSA, the ending of all financial links with OutokumpuandtheGroup'ssuccessfulfinancingmeasuresontheequityanddebtside.

BrokerfieldtripsasanefficientdialogueplatformforinvestorsandCompany

The positioning of ThyssenKrupp as a diversified industrial group offers clear upside potential. Together with our benchmarkingambitionwewanttoachieveasituationwheretheGroup'sstockmarketvaluereflectsthefairvalueofallour businesses.

A key role inthis is played bythe commitment of our leadershipteamstotheir operating and strategic goals andtheir systematic involvement in the dialogue with investors and analysts. Broker field trips to ThyssenKrupp are an efficient platformforthis.Theycanlastuptoafulldayandgiveinternationalinvestorstheopportunitytomeetandtalkindepth withGroupExecutiveBoardmembersaswellasexecutivesandindustryexpertsfromourbusinessareas.Fiveofthesefield tripstookplacefromFebruarytoJune2014.

NorthAmericamainregionforfreefloat

ThecapitalstockofThyssenKruppAGof€1,448,801,144.32isdividedinto565,937,947no-parshares.

TheAlfriedKruppvonBohlenundHalbachFoundation,Essen,withaholdingof23.03%ofthecapitalstock–whichisnot included in free float – is the biggest shareholder, followed by Cevian Capital, Stockholm and Zurich, with a holding of 15.08%.Privateinvestorsholdapprox.10%ofthecapitalstock.Theremainingsharesarewidelyheldinternationally.

IntermsofdailytradingvolumeinThyssenKruppstock,byfarthebiggestroleisplayedbymarketparticipantsfromtheUK andthe USA. North America is ThyssenKrupp's main regionforfree-float shareholders. US and Canadian investors held around20%ofthefreefloatattheendofMarch2014,withinvestorsintheUKandGermanyaccountingforaround9%and 8.5%respectively.

Rating

We have been rated by Moody's and Standard & Poor's since 2001 and by Fitch since 2003. In December 2013 Fitch loweredThyssenKrupp'sratingfromBBB-toBB+.Ourratingsarethereforebelowinvestmentgrade.Allthreeratingshavea negative outlook.A negative outlookmeansthatthe rating agencymonitorsthe ratingmore closely andthen reviews it, normallywithinaperiodof12to18months.

	Long-term rating	Short-term rating	Outlook
Standard&Poor's	BB	B	negative
Moody's	Ba1	NotPrime	negative
Fitch	BB+	B	negative

Innovations

AspartoftheexpansionofourserviceoperationstheElevatorTechnologybusinessareatogetherwithMicrosoftandCGI has developed asystemthat raiseselevatorsafetyand reliabilityto a new level.It uses a large number ofsensorsthat monitoreverythingfrommotortemperaturetoshaftalignment,cabspeedanddoorfunctioning.Thedatatheygatherare processed intelligently and made available centrally to service technicians. It means ThyssenKrupp is able to offer predictive/preventiveservice.Theaimistomaximizetheuptimeofourelevators.

InthefutureThyssenKruppwillsupportitscustomersincreasinglywithsustainableproductsandsolutions.Inthiscontext theIndustrialSolutionsbusinessareaisworkingonthefurtherdevelopmentofredoxflowtechnology.Theaimistoenable thelarge-scaleuseofvanadium redoxflowbatteries.Theseareabletostorelargeamountsofenergy.Otheradvantages include high efficiency of upto 80%, modular construction, and separate scalability of capacity and stored energy. The developmentwork isfocused on increasingthe area ofthe electrochemically active cells and with itthe capacity ofthe batteries.

OurTechCenterControlTechnologyiscurrentlyworkingonthetechnicalandcommercialfundamentalsforaviableCross Energy Management System. The idea is to adapt power consumption better to the constantly changing supply of renewableenergies.TheTechCenterControlTechnologyisworkingonsuitableprocessesandtechnologies.Theaimisto managetheproductionprocessesofindustrialconsumerssothatconsumptionadaptstotheenergysupplyfromrenewable sources.

Employees

AtJune30,2014,ThyssenKruppemployed160,168peopleworldwide,4,617or3.0%morethanayearearlier.Compared withSeptember30,2013theheadcountincreasedby3,312or2.1%.Thisgrowthwasmainlyduetothetransferof5,085 VDMandASTemployeesfromOutokumpu.ThesaleofThyssenKruppSteelUSAresultedina1,522decrease.Thebalance wasduetoamainlyoperationaldecreaseinpersonnelbyaround250employees:Areductionofapprox.1,800employees at Steel Europe, Steel Americas, Material Services and Corporate under various initiatives and measures as part of the impactprogramwasoffsetbyanincrease–particularlyoutsideGermany–ofapprox.1,550employeesatourhigh-growth capitalgoodsbusinessesaspartoftheireffortstodevelopnewcustomersandmarketsintheAmericasandAsia.Asthe result of internal restructuring, 1,412employeesmovedfromthe MaterialsServices business areatothe Steel Americas businessarea.

In Germanythe headcount rose by 959 comparedwithSeptember 30, 2013to 59,123;withoutthetransferofthe VDM employees,theGermanworkforcewouldhavedecreased.AtJune30,201419.8%ofallemployeeswerebasedinEurope outsideGermany,12.7%intheNAFTAregion,13.5%inSouthAmerica,15.7%inAsia–inparticularinChinaandIndia– and1.4%intherestoftheworld.

Compliance

The anticorruption and antitrust compliance program with its three pillars "inform", "identify" and "report and act" was rigorously continued and refined in the reporting period. The focus was on carrying out a Groupwide bottom-up risk assessmentandworkingonacompliancestrategyforthecomingyearsupto2020.

InformationonthecartelinvestigationatThyssenKruppSteelEuropeandtheassociatedbusinessriskscanbefoundinthe section"Opportunitiesandrisks".

Groupwideriskassessment

Wecarried out aGroupwide bottom-up risk assessment inthe reporting periodwith a significantlywiderscopethanthe previoustop-downassessment.Basedonadetailedquestionnaireweanalyzedobjectiveantitrustandcorruption risksat GroupcompanylevelandthedegreeofimplementationofthecomplianceprogramattheindividualGroupcompanies.Ina secondstepworkshopswillbeheldatvariousGroupcompaniestodevelopmeasurestocountertheidentified risks.The resultsofthebottom-upriskanalysiswillfacilitatemorefocusedmanagementofthecomplianceprogram.

Furtherdevelopmentofthecomplianceprogram:Compliancestrategy2020

Since its introduction our compliance program has been continuously optimized to take account of current compliance developments,includingthefindingsfromourinternalcompliancework.Thecomplianceorganizationiscurrentlycarrying outaprojecttodeterminethefuturecompliancestrategyofThyssenKruppupto2020.

Compliance officers at corporate level, in the business areas and in the regions advise, inform and educate employees around the world about important legal requirements and internal policies and among other things carry out proactive compliance audits and investigate suspected cases of non-compliance. They are supported in the business areas and Groupcompaniesbyanetworkofaround320compliancemanagers–generallymanagingdirectorsofGroupcompanies– whoensurethecomplianceprogramisimplementedatoperatinglevelintheirareasofresponsibility.

Thebasisforthesuccess ofthecompliance programisacorporateculturethatstandsforvaluessuchastransparency, integrity and credibility. Our employees bear personal responsibility and our managers additionally bear corporate responsibilityforcompliance and basetheir actions onthese values. The projectto developthe compliancestrategywill alsosupportthechangerequiredinthemindsetandbehaviorofouremployeesandsocontributetoestablishinganeven strongercomplianceculturethroughouttheGroup.ThyssenKrupphasaclearcommitmenttoensuringcompliancewiththe law and internal policies; violations, particularly of antitrust and anticorruption rules, are not tolerated under any circumstancesHzerotoleranceI.

Macroandsectorenvironment

Globaleconomywithonlyslightlyhighergrowthin2014

Globaleconomicgrowthpickedupinthecourseof2013,butat2.9%wasstilllowerthantheweakprior-yearlevel.Leading indicatorsin2014todatesuggestonlyamoderateincreasethisyear.Therehasbeenaslightimprovementinsentimentin theindustrializednations–basedoncontinuedhighlyexpansionarymonetarypolicy–pointingtogrowthofjustunder2% in2014comparedwithjustover1%lastyear.However,growthintheemergingeconomieswillslowslightlyfrom4.8%last yearto4.6%in2014.Overallweexpecttheglobaleconomytogrowatarateof3.2%.

Theeurozoneeconomycameoutofrecessioninthecourseoflastyear.However,therecoveryisproceedingonlyslowly, especially in major member states such as France and Italy. Necessary reforms and structural adjustments in some countrieswillcontinuetolimitgrowthopportunities.Aftercontractingby0.4%lastyear,eurozoneGDPwillgrowbyonly1% in2014.

TheGermaneconomyisexpectedtoexpandstronglythisyear,drivenmainlybydomesticdemand.Inadditiontonecessary maintenance capital investment, there will also be an increase in expansion capital expenditures due to rising capacity utilizationandcontinuedfavorablefinancingconditions.Consumerspendingwillalsoincreaseappreciablythankstorising incomesandasolidlabormarket.However,foreigntradeisexpectedtogenerateonlylittlegrowthimpetus.Overall,German GDPwillincreasebyalmost2%in2014comparedwithonly0.4%lastyear.

After aweather-relatedveryweakstarttotheyeartheUSeconomyisalso picking upin2014.Inview oftheadvanced deleveragingprocessamongprivatehouseholdsandcontinuedimprovementsonthelabormarket,consumerspendingis expected to accelerate. With economic conditions more favorable, business spending will also increase. Following 2.2% growthlastyear,theUSeconomyisexpectedtoexpandby2.1%in2014.

GDPgrowthinChinaisexpectedtoslowslightlyto7.5%thisyearfrom7.7%in2013.Whileforeigntradeshoulddeliver strongergrowthimpetus,thetargetedshifttowardsgreaterconsumption-ledgrowthisnotyetlikelytobeenoughtooffset weakerbusinessspending.Followingweakexpansionofjust4.7%lastyear,GDPgrowthinIndiawillquickensomewhatin 2014 on the back of slightly better foreign demand and accelerated implementation of ongoing infrastructure projects. However, at 5.4%the pace ofexpansionwillfallwellshort ofthe growth rates achieved inthe past decade.Following a moderateincreaseof2.3%in2013,economicgrowthinBrazilwillslowagainthisyeartojust1.5%.Consumerspending, businessspendingandforeigntradehavebeenweakintheyeartodate.Whatisneededinparticularisanimprovementin theconditionsforinvestment,forexamplethroughreducedbureaucracy,simplificationofthetaxsystemandinfrastructure expansion.Followingweakgrowthofonly1.3%in2013,theRussianeconomyisexpectedtodolittlemorethanstagnate thisyearduetothecontinuingcrisissituationandlargecapitalwithdrawals.

Industrialactivitygainingmomentumoverall

Automotive – Sincethe beginning ofthe yearthe international automobilemarkets have profitedfromcontinuingstable growth inthe USA, a recovery onthe Europeanmarket and persistent strong growth in China. Inthe USA, sales of light vehiclesHpassengercars+lighttrucksIintheperiodJanuarytoJune2014cameto8.1millionunits,up4%fromthesame periodlastyear.Newcar registrationsinChinainthe1sthalfof2014wereupbyover14%fromayearearlier,withthe marketgrowingtojustunder8.9millionunits.ArecoverywasalsonoticeableinEurope,wherethemarketgrewby3%to 8.4 million cars in the 1st half. One of the biggest growth drivers was the UK, the EU's second largest market, which recorded double-digit growth H11%I with 1.3 million new car registrations in the first six months. In Germany, the EU's biggestcarmarket,newregistrationswerealsobackup,increasingby2%year-on-yearto1.5millionunitsinthe1sthalf.

Followinga4%increaseinglobalautoproductionlastyearto82.5millioncarsandlighttrucks,morevehiclesareagain expectedtorollofftheassemblylinesin2014;weforecastgrowthofupto4%to85.7millionunits.Onceagaintherewill bewideregionaldifferences.Chineseautoproductionispredictedtoincreaseby9%.IntheUSA,lastyear'srapidgrowth willslowslightlytoaround5%.Brazilianautooutputin2014willshrinkby8%to3.1millioncars,backatthelevelof2012. Japaneseautoproductionwillstagnatewithlowgrowthof0.4%.ThevehiclemarketinwesternEuropeappearsrobust,with growthof4%matchingtheglobalgrowthlevel.Germany'shighlyexport-orientedautomanufacturersincreasedtheiroutput by7%to3.0millionunitsinthe1sthalf.Theforecastforthefullyear2014isgrowthof3%or5.7millionvehicles.

	2013	2014*
Vehicleproduction,millioncarsandlighttrucks
World	82.5	85.7
WesternEurope	12.6	13.1
Germany	5.5	5.7
USA	10.8	11.4
Japan	9.0	9.1
China	20.8	22.7
Brazil	3.4	3.1
Machineryproduction,real,in%versusprioryear
Germany	41.55	0.5
USA	2.0	3.5
Japan	1.4	10.3
China	8.6	4.8
Constructionoutput,real,in%versusprioryear
Germany	2.1	3.5
USA	6.8	5.5
China	9.5	8.1
India	3.5	5.0
Demandforfinishedsteel,milliontons
World	1,483.0	1,525.0
Germany	37.9	39.5
USA	96.0	101.0
China	700.0	720.0

Importantsalesmarkets

*Forecast

Machinery –After a generally difficult 2013machinery output istrending upwards again in 2014 inmostcountries, but without reaching the high growth rates of the past. In China, a temporary slowing of the economy and reduced capital spendingmeanstheChinesemachinerysectorwillexpandbyonlyroughly5%thisyear.Afterasevereslumpin2012and onlymoderategrowthin2013,machineryoutputinJapanwillpickupsharply,with10%expansionin2014.Followinga2% increasein2013,USmachineryoutputwillgrowbyafurther3.5%thisyear.Afterproductiondecreasesin2013,theworst seemstobeoverformostwesternEuropeancountries.Moderategrowthof2to3%isexpectedfor2014.

Germany'sexport-orientedmachinerysectorrecordeda1.5%declineinoutputin2013.Despitethemoderateimprovementin theglobaleconomy,ordersinthefirstfivemonthsofthecurrentyeardecreasedby1%inrealterms.A4%riseindomestic orderswasoffsetbya4%dropinforeignorders.However,thankstoordersinhandproductioninthisperiodincreasedbyover 1%.OrdersintheGermanplantconstructionsectorin2013were3%higherthanayearearlier.For2014theindustryexpects orderstostagnateattheprior-yearlevel.Overall,Germanmachineryoutputispredictedtogrowbyonly0.5%in2014.

Construction – After a weak year last year, construction activity in Europe has picked up noticeably in 2014 to date. ConstructionoutputinwesternEuropeisexpectedtoincreasebyaround2.5%thisyear,andineasternEuropebyroughly4%. TheUSrealestatemarketseemstobestabilizing–despitesomemixedsignals.Buildingpermitsandhousingstartswereupin the 1st half of 2014. Property prices are increasing again at a slightlyfaster rate after atemporary slowdown. Orders and outputintheGermanconstructionsectorgrewstronglyuptothemiddleof2014;companieswereabletoworkdowntheirhigh order backlogs. In addition, the housing market continues to benefit from low interest rates and the positive labor market situation.Construction activity inGermanyisexpectedto rise by3.5%in 2014.InChina, construction outputwill grow by around8%thisyear,aslightlylowerratethaninpreviousyears.

Steel – The situation onthe Europeanflat carbon steelmarket inthe 1st half of 2014 was marked by higher volumes compared with last year but also by continuing pressure on steel prices. Output in steel-consuming industries was well abovethe low levels ofthe same period last year, leadingto increased steel demand. Thiswas additionally boosted by moderateseasonalrestockingbyusersanddistributorsinthefirstmonthsoftheyear.Inthecourseofthe2ndquartersteel demandstalledagainslightly.Withmaterials readilyavailableatshortnotice andstocklevelsadequate,steelcustomers becamemorecautiousagain–alsoinviewoftheupcomingvacationperiod.Asaresult,shipmentsbyEuropeanflatsteel supplierstotheEUmarketdecreasedagainslightly.Atthesametime,importsfromthirdcountriesincreased;significantly moreflatsteelwas imported in particularfromthe CISstates and alsofrom Asia, aided no doubt insomecases bythe firmereuroexchangerate.SteelpricesontheEuropeanspotmarkets,whichhadbeenquiterobustinthefirstmonthsofthe year,slippedagainfromthespring.Thedownwardpressurewasreinforcedbythelargefallinironorepricessincetheturn ofthe year. Inthe USA,the extreme weather conditions inthe 1st quarter 2014 dampened the economy andthe steel market.Sincethensteeldemandhas recoveredstrongly.AcontinuinglimitedsupplyonthepartoftheUSsteelindustry causedasharpriseinsteelpricesinAprilandMay–instrongcontrasttothetrendonothermarkets.However,pricesfell slightlyagainafterwards,notleastduetoamarkedincreaseinimports.

Againstthe background oftheexpectedslightglobaleconomic recovery,the globalsteelmarketwillcontinuetogrowin 2014.Demandforfinishedsteelispredictedtorisebyaround3%to1.53billiontons.Thisweakergrowthcomparedwith previousyearsisduetoslowingmomentuminmanyemergingeconomies.Aboveall,growthintheChinesesteelmarket– 6%lastyear–willslowto3%in2014,andthereareincreasingsignsofanenduringslowdown.Themoderaterecoveryin theEUwillcontinuedespiteexistingrisks.Comingfromalowlevel,steeldemandisexpectedtogrowbyjustunder4%this year. However, a renewed increase in imports from third countries, not least China, could limit sales opportunities for Europeansteelproducers.Drivenbyanimprovingeconomyandstockbuilding,Germansteeldemandshouldrisebymore than4%toalmost40milliontons.Above-averagegrowthofaround5%isalsoexpectedfortheUSsteelmarket.

Opportunitiesandrisks

Opportunities

As a global diversified industrial groupwith leadingengineeringexpertise and innovative, resource-friendly products and processes,ThyssenKruppissystematicallyfocusedonthemarketsofthefuture.Thisfocusoffersstrongopportunitiesin particularforourelevatorandprojectbusinessesintheemergingeconomies.Inaddition,thetargetedcontinuationofour corporateprogramimpactwillhelpimproveproductivityandincreasevalueinallareasoftheGroup.

Theinformationonourstrategicandoperatingopportunitiespresentedonpages76-78ofthe2012/2013AnnualReport remainsvalid.

Risks

IfpositivesupportisnotforthcomingfromtheglobaleconomyandthemarketsofrelevanceforThyssenKrupp,theGroupwill faceeconomicrisks.Lowergrowthratesintheemergingeconomiesandunresolveddebtcrisesinparticularintheeurozone may diminish ourmarket prospects.We continuouslymonitor and assessthe economic situation and othercountry-specific conditionstoenableustotakeactionatanearlystage.Wecountersales risksfromdependencyonindividualmarketsand sectors by focusing systematically on the markets of the future. As a diversified industrial group with leading engineering expertise,ThyssenKrupphasaglobalpresence,enjoysgood,longstandingrelationshipswithitscustomers,andpursuesactive strategicdevelopmentofcustomersandmarkets.

ThyssenKrupp manages its liquidity and credit risks proactively. The Group'sfinancing and liquidity remain on a secure foundation in fiscal 2013/2014. At June 30, 2014 the Group had €7.3 billion in cash, cash equivalents and undrawn committedcreditlines.

We counter credit risks Hdefault risksI by entering into financial instruments with specified risk limits only with counterpartieswhohaveverygoodcreditstandingand/oraremembersofadepositguaranteescheme.Furtherfinancial riskssuchascurrency,interestrateandcommoditypricerisksare reducedbytheuseofderivativefinancialinstruments. Restrictiveprinciplesregardingthechoiceofcounterpartiesalsoapplytotheuseofthesefinancialinstruments.

ThyssenKrupphasagreementswithbankswhichcontaincertainconditionsintheeventthattheratioofnetfinancialdebt tototalequityHgearingIintheconsolidatedfinancialstatementsexceeds150%attheclosingdateHSeptember30I.AtJune 30, 2014theGroup's gearingwas 129.8%. The improvementversusSeptember 30, 2013wasmainly attributabletothe capitalincreasecarriedoutinearlyDecember2013andtheproceedsfromthesaleofThyssenKruppSteelUSAinFebruary 2014.

AlsoinFebruary2014,ThyssenKrupptransferreditssubordinatedfinancialreceivabletoOutokumpuandinexchangetook over the VDM and AST groups and a number of European stainless steel service centers. As part of this transaction ThyssenKruppdivestedits29.9%shareholdinginOutokumpuandendedallotherfinanciallinkswithOutokumpu.Thisstep reduces risksandsecuresvaluefor ourcompany; oncompletion ofthetransaction,thevalueanddefault risksfromthe shareholdinginOutokumpuandfromthevendorloansgrantedwereeliminated.

Inadditiontoeconomicuncertainties,theEuropeansteelindustryisexposedtoimportpressureandovercapacitiesonthe market.Withtheintegratedoptimizationprogram"Best-in-ClassReloaded"theSteelEuropebusinessareaiscounteringthe corresponding risks to sales volumes and prices, positioning itself in less cyclical premium market segments, and thus makingakeycontributiontoachievingtheearnings,cashflow,value-addedandcompetitiveprofiledemandedofallGroup companiesaspartoftheStrategicWayForward.

Newlawsandotherchangesinthelegalframeworkatnationalandinternationallevelcouldentailrisksforourbusiness activities ifthey leadto higher costs or other disadvantagesfor ThyssenKrupp comparedwith our peers.In particular, rising energy costs in 2014 due to the surcharge payable under Germany's Renewable Energy Act HEEGI are already placingasignificantburdenonourGermansteelproductionsiteswhichisjeopardizingourinternationalcompetitiveness. The risk situation is exacerbated by the subsidy investigations initiated against Germany by the EU Commission on December18,2013.TheEuropeanCommissionsuspectsthatthepartialexemptionofnumerouscompaniesfromtheEEG surchargeisincontraventionofEUcompetitionlaw.IfinthisconnectionthepartialexemptionfromtheEEGsurcharge grantedtoThyssenKruppandotherenergy-intensivecompaniesengagedininternationalcompetitionshouldbereduced or withdrawn, there will be substantial risks to the asset, financial and earnings situation of ThyssenKrupp's German production sites. We supportthe discussion process in connection withthe EEG andfurther regulation effortsthrough closeworkingcontactswiththerelevantinstitutionsandinthiswayworktoreducethecorrespondingrisks.Thecurrent environmentalandenergystateaidguidelinesissuedbytheEUCommissionandthereformoftheEEGadoptedinJune 2014 take our justified interests into account. It is not yet possible to give any indication of when the subsidy investigationswill beended.Accordingtothe latest information available,theEUCommissionwillseek recovery inthe amount of the difference between the deductible under EEG 2012 andthe EU environmental state aid guidelines. The exactamountcannotyetbedetermined,butbasedongovernmentstatementswecurrentlyexpectanyrisktotheGroup tobelow.

Actingonananonymoustip,theGermanFederalCartelOfficehasbeeninvestigatingThyssenKruppSteelEuropeandother companies since the end of February 2013 based on an initial suspicion of price fixing in the delivery of certain steel productstotheGermanautoindustryanditssuppliersoveraperioddatingbackto1998.ThyssenKrupphaslaunchedits owninvestigationintotheallegationswiththesupportofexternallawyers.TheamnestyprogramwecarriedoutfromApril 15toJune15,2013producednoleadsregardingtheongoinginvestigations.TheinvestigationsbytheFederalCartelOffice are ongoing. The internal investigations launched in responsetothe investigations oftheFederalCartelOffice are at an advanced stage but not yet complete. Based onthefacts currently knownto us, significant adverse consequenceswith regardtotheGroup'sasset,financialandearningssituationcannotberuledout.

In2013thepublicprosecutor'sofficeinBremenlaunchedaninvestigationintoemployeesofAtlasElektronikGmbH,among others, onsuspicion of bribingforeign officials inconnectionwith commission paymentsforGreek naval projects. These paymentsweremadebeforetheshareholdinginAtlaswasacquiredbyThyssenKruppin2006.Atlasreportedthismatterto thepublicprosecutorandtheBremeninternalrevenueservicein2010followingacomplianceinvestigation.AtlasElektronik isajointcompanyofThyssenKruppandAirbus.Thecompanyiscooperatingfullywiththeauthoritiesandhasinitiatedan internal investigation in consultation with the public prosecutor's office. The process is being closely supported by the owners.

The various elements of our riskmanagement system are systematically gearedtothe current challenges and risks ofthe Group.ThisensuresthattherearenorisksthatcouldthreatentheabilityoftheGrouptocontinueasagoingconcern.Beyond this,thedetailedinformationcontainedintheriskreportonpages78-88ofthe2012/2013AnnualReportisstillvalid.

Wereportonpendinglawsuits,claimsfordamagesandotherrisksinNote07.

ThyssenKruppAG—Consolidatedstatementoffinancialposition

Assetsmillion€	Note	Sept.30, 2013*	June30, 2014
Intangibleassets		4,206	4,199
Property,plantandequipment		7,484	7,909
Investmentproperty		287	288
Investmentsaccountedforusingtheequitymethod		949	612
Otherfinancialassets		1,019	55
Othernon-financialassets		335	449
Deferredtaxassets		1,662	1,500
Totalnon-currentassets		15,942	15,012
Inventories,net		6,351	7,864
Tradeaccountsreceivable		4,956	5,711
Otherfinancialassets		500	320
Othernon-financialassets		2,069	2,531
Currentincometaxassets		123	203
Cashandcashequivalents		3,813	3,511
Assetsheldforsale	02	1,543	112
Totalcurrentassets		19,355	20,252
Totalassets		35,297	35,264

EquityandLiabilitiesmillion€	Note	Sept.30, 2013*	June30, 2014
Capitalstock		1,317	1,449
Additionalpaidincapital		4,684	5,434
Retainedearnings		03,8161	03,9371
Cumulativeothercomprehensiveincome		58	0211
thereofrelatingtodisposalgroups0Sept.30,2013:2;June30,2014:0611
EquityattributabletoThyssenKruppAG'sstockholders		2,243	2,925
Non-controllinginterest		269	248
Totalequity		2,512	3,173
Accruedpensionandsimilarobligations	04	7,348	7,118
Provisionsforotheremployeebenefits		270	334
Otherprovisions		676	732
Deferredtaxliabilities		52	63
Financialdebt		6,955	6,455
Otherfinancialliabilities		3	4
Othernon-financialliabilities		1	2
Totalnon-currentliabilities		15,305	14,708
Provisionsforemployeebenefits		298	251
Otherprovisions		1,363	1,028
Currentincometaxliablilities		234	238
Financialdebt		1,911	1,190
Tradeaccountspayable		3,713	4,518
Otherfinancialliabilities		1,241	1,020
Othernon-financialliabilities		8,455	9,014
Liabilitiesassociatedwithassetsheldforsale	02	265	124
Totalcurrentliabilities		17,480	17,383
Totalliabilities		32,785	32,091
Totalequityandliabilities		35,297	35,264

Seeaccompanyingselectednotes.

*FigureshavebeenadjustedduetotheadoptionofIAS19RandthecatchupofdepreciationofBerco0see"Recentlyadoptedaccountingstandards"andNote021.

ThyssenKruppAG—Consolidatedstatementofincome

million€,earningspersharein€	Note	9months ended June30,2013*	9months ended June30,2014	3rdquarter ended June30,2013*	3rdquarter ended June30,2014
Netsales	09	28,649	30,146	9,920	10,742
Costofsales	10	024,5811	025,5121	08,6131	09,0941
Grossprofit		4,068	4,634	1,307	1,648
Researchanddevelopmentcost		01921	02071	0691	0701
Sellingexpenses		02,0561	02,0831	06791	07111
Generalandadministrativeexpenses		01,5711	01,6341	05441	05541
Otherincome		158	139	42	51
Otherexpenses		03431	01111	071	0241
Othergains/0losses1		0421	309	0401	14
Income/0loss1fromoperations		22	1,047	10	354
Income/0expense1fromcompaniesaccountedforusingtheequitymethod	11	0611	081	0581	9
Financeincome		353	692	171	130
Financeexpenses		08381	01,4301	03281	03311
Financialincome/0expense1,net		05461	07461	02151	01921
Income/0loss1beforeincometaxes		05241	301	02051	162
Incometax0expense1/income		01101	02431	02231	01191
Income/0loss1fromcontinuingoperations0netoftax1		06341	58	04281	43
Discontinuedoperations0netoftax1	02	64	184	3	011
Netincome/0loss1		05701	242	04251	42
Attributableto:
ThyssenKruppAG'sstockholders		05271	243	03951	39
Non-controllinginterest		0431	011	0301	3
Netincome/0loss1		05701	242	04251	42
Basicanddilutedearningspershare	12
Income/0loss1fromcontinuingoperations0attributabletoThyssenKruppAG'sstockholders1		01.151	0.11	00.771	0.07
Netincome/0loss10attributabletoThyssenKruppAG'sstockholders1		01.021	0.44	00.761	0.07

Seeaccompanyingselectednotes.

*FigureshavebeenadjustedduetotheadoptionofIAS19R,thereclassificationofSteelAmericasasacontinuingoperation,theeliminationoftheimpairmentofSteelAmericas aswellasthecatchupofamortizationanddepreciationofThyssenKruppCSAandBerco0see"Recentlyadoptedaccountingstandards"andNote021.

ThyssenKruppAG—Consolidatedstatementofcomprehensive income

	9months	9months	3rdquarter	3rdquarter
million€	ended June30,2013*	ended June30,2014	ended June30,2013*	ended June30,2014
Netincome/+loss,	05701	242	04251	42
Itemsofothercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossinfutureperiods:
Other comprehensive income from remeasurements of pensions andsimilarobligations
Change	0271	05151	87	02261
Taxeffect	7	155	0281	69
Othercomprehensiveincomefromremeasurementsofpensionsandsimilarobligations,net	0201	03601	59	01571
Shareofunrealizedgains/0losses1ofinvestmentsaccountedforusingtheequity-method	0121	3	8	0
Subtotalofitemsofothercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossinfutureperiods:	0321	03571	67	01571
Itemsofothercomprehensiveincomethatwillbereclassifiedtoprofitorlossinfutureperiods:
Foreigncurrencytranslationadjustment
Changeinunrealizedgains/0losses1,net	02701	0241	02581	97
Netrealized0gains1/losses	15	0731	0	0
Netunrealizedgains/0losses1	02551	0971	02581	97
Unrealizedgains/0losses1fromavailable-for-salefinancialassets
Changeinunrealizedgains/0losses1,net	081	5	081	4
Netrealized0gains1/losses	0	0	0	0
Taxeffect	3	021	3	021
Netunrealizedgains/0losses1	051	3	051	2
Unrealized0losses1/gainsonderivativefinancialinstruments
Changeinunrealizedgains/0losses1,net	0741	31	0541	22
Netrealized0gains1/losses	7	011	011	011
Taxeffect	22	081	18	0121
Netunrealizedgains/0losses1	0451	22	0371	9
Shareofunrealizedgains/0losses1ofinvestmentsaccountedforusingtheequity-method	081	041	0131	3
Subtotalofitemsofothercomprehensiveincomethatwillbereclassifiedtoprofitorlossinfutureperiods:	03131	0761	03131	111
Othercomprehensiveincome	03451	04331	02461	0461
Totalcomprehensiveincome	09151	01911	06711	041
Attributableto:
ThyssenKruppAG'sstockholders	08571	01931	06131	0141
Non-controllinginterest	0581	2	0581	10
TotalcomprehensiveincomeattributabletoThyssenKruppAG'sstockholdersrefersto:
Continuingoperations	09101	03771	06161	0131
Discontinuedoperations	53	184	3	011

Seeaccompanyingselectednotes.

ThyssenKrupp—Consolidatedstatementofchangesinequity

		EquityattributabletoThyssenKruppAG'sstockholders
							Cumulativeothercomprehensiveincome
million€ +exceptnumberofshares,		Numberof shares outstanding	Capital stock	Additional paid incapital	Retained earnings	Foreign currency translation adjustment	Available for-sale financial assets	Derivative financial instruments	Shareof investments accounted forusingthe equity method	Total	Non controlling interest	Total equity
BalanceasofSept.30, 2012	514,489,044	1,317	4,684	02,4851	463	7	0321	32	3,986	540	4,526
Adjustmentdueto retrospectiveadoptionof IAS19R*				8					8		8
BalanceasofOct.01, 2012*	514,489,044	1,317	4,684	02,4771	463	7	0321	32	3,994	540	4,534
Netincome/0loss1**				05271					05271	0431	05701
Othercomprehensive income*				0311	02421	051	0441	081	03301	0151	03451
Totalcomprehensive income**				05581	02421	051	0441	081	08571	0581	09151
Profitattributableto non-controllinginterest Otherchanges				4					0 4	0321 0181	0321 0141
BalanceasofJune30, 2013**	514,489,044	1,317	4,684	03,0311	221	2	0761	24	3,141	432	3,573
BalanceasofSept.30, 2013*	514,489,044	1,317	4,684	03,8161	107	3	0651	13	2,243	269	2,512
Netincome/0loss1				243					243	011	242
Othercomprehensive income				03571	0981	2	21	041	04361	3	04331
Totalcomprehensive income				01141	0981	2	21	041	01931	2	01911
Profitattributableto non-controllinginterest Capitalincrease Otherchanges	51,448,903	132	750	031 041					0 879 041	0241 0 1	0241 879 031
BalanceasofJune30, 2014	565,937,947	1,449	5,434	03,9371	9	5	0441	9	2,925	248	3,173

Seeaccompanyingselectednotes.

*FigureshavebeenadjustedduetotheadoptionofIAS19RandthecatchupofdepreciationofBerco0see"Recentlyadoptedaccountingstandards"andNote021. **FigureshavebeenadjustedduetotheadoptionofIAS19R,thereclassificationofSteelAmericasasacontinuingoperation,theeliminationoftheimpairmentofSteelAmericas aswellasthecatchupofamortizationanddepreciationofThyssenKruppCSAandBerco0see"Recentlyadoptedaccountingstandards"andNote021.

ThyssenKrupp—Consolidatedstatementofcashflows

million€	9months ended June30,2013*	9months ended June30,2014	3rdquarter ended June30,2013*	3rdquarter ended June30,2014
Netincome/0loss1	05701	242	04251	42
Adjustmentstoreconcilenetincome/0loss1tooperatingcashflows:
Discontinuedoperations0netoftax1	0641	01841	031	1
Deferredincometaxes,net	01061	9	136	15
Depreciation,amortizationandimpairmentofnon-currentassets	893	828	329	287
Reversalsofimpairmentlossesofnon-currentassets	021	031	011	011
0Income1/lossfromcompaniesaccountedforusingtheequitymethod,netofdividendsreceived	61	8	59	091
0Gain1/lossondisposalofnon-currentassets,net	0311	03241	0121	1
Changesinassetsandliabilities,netofeffectsofacquisitionsanddivestituresandothernon-cashchanges:
-inventories	114	06121	85	01151
-tradeaccountsreceivable	95	05031	0151	0591
-accruedpensionandsimilarobligations	01241	01691	0311	0351
-otherprovisions	423	01251	91	63
-tradeaccountspayable	01581	178	01221	01291
-otherassets/liabilitiesnotrelatedtoinvestingorfinancingactivities	102	487	326	0201
	633	01681	417	41
Operatingcashflows-continuingoperations
Operatingcashflows-discontinuedoperations	01941	0	0	0
Operatingcashflows-total	439	01681	417	41
Purchaseofinvestmentsaccountedforusingtheequitymethodandnon-currentfinancialassets	011	021	0	021
Expendituresforacquisitionsofconsolidatedcompaniesnetofcashacquired	0101	30	041	37
Capitalexpendituresforproperty,plantandequipment0inclusiveofadvancepayments1andinvestmentproperty	07801	06561	02141	02411
Capitalexpendituresforintangibleassets0inclusiveofadvancepayments1	0691	0441	0211	0141
Proceedsfromdisposalsofinvestmentsaccountedforusingtheequitymethodandnon-currentfinancialassets	32	46	32	0
Proceedsfromdisposalsofpreviouslyconsolidatedcompaniesnetofcashacquired	930	1,268	1	14
Cashandcashequivalentsdisposedofduetolossofcontrolovercompaniesconsolidatedsofarbutnotsold	0	02791	0	0
Proceedsfromdisposalsofproperty,plantandequipmentandinvestmentproperty	66	24	12	011
Proceedsfromdisposalsofintangibleassets	2	1	1	1
Cashflowsfrominvestingactivities-continuingoperations	170	388	01931	02061
Cashflowsfrominvestingactivities-discontinuedoperations	0991	0	0	0
Cashflowsfrominvestingactivities-total	71	388	01931	02061
Proceedsfromissuanceofbonds	1,600	1,250	0	0
Repaymentofbonds	01,0001	01,0001	0	01,0001
Proceedsfromliabilitiestofinancialinstitutions	2,948	1,080	240	469
Repaymentsofliabilitiestofinancialinstitutions	02,2041	02,3131	08081	06681
Proceedsfrom/0repaymentson1notespayableandotherloans	01971	02371	03591	01711
Increase/0decrease1inbillsofexchange	051	011	011	021
Decreaseincurrentsecurities	1	1	0	1
Proceedsfromcapitalincreases	0	878	0	0
Profitattributabletonon-controllinginterest	0321	0241	041	041
Expendituresforacquisitionsofsharesofalreadyconsolidatedcompanies	071	031	0	031
Financingofdiscontinuedoperations	02781	0	011	0
Otherfinancingactivities	0931	01391	01801	061
Cashflowsfromfinancingactivities-continuingoperations	733	05081	01,1131	01,3841
Cashflowsfromfinancingactivities-discontinuedoperations	238	0	0	0
Cashflowsfromfinancingactivities-total	971	05081	01,1131	01,3841
Netincreaseincashandcashequivalents-total	1,481	02881	08891	01,5491
Effectofexchangeratechangesoncashandcashequivalents-total	01021	0211	01181	30
Cashandcashequivalentsatbeginningofreportingperiod-total	2,347	3,829	4,733	5,039
	3,726	3,520	3,726	3,520
Cashandcashequivalentsatendofreportingperiod-total	E–F	E9F	E–F	E9F
EthereofcashandcashequivalentswithindisposalgroupsF
EthereofcashandcashequivalentswithindiscontinuedoperationsF	E47F	E–F	E47F	E–F
Additionalinformationregardingcashflowsofcontinuingoperationsfrominterest,dividendsandincometaxeswhich areincludedinoperatingcashflows:
Interestreceived	89	100	33	29
Interestpaid	04891	04151	01611	01491
Dividendsreceived	58	55	55	51
Incometaxespaid	02691	02811	01061	0731

SeeNote13tothecondensedconsolidatedfinancialstatements.

*FigureshavebeenadjustedduetotheadoptionofIAS19R,thereclassificationofSteelAmericasasacontinuingoperation,theeliminationoftheimpairmentofSteelAmericasas wellasthecatchupofamortizationanddepreciationofThyssenKruppCSAandBerco0see"Recentlyadoptedaccountingstandards"andNote021.

ThyssenKruppAG—Selectednotes

Corporateinformation

ThyssenKruppAktiengesellschaft"ThyssenKruppAG"or"Company"isapubliclytradedcorporationdomiciledinDuisburg and Essen in Germany. The condensed interim consolidated financial statements of ThyssenKrupp AG and subsidiaries, collectivelythe"Group",fortheperiodfromOctober01,2013toJune30,2014,wereauthorizedforissueinaccordance witharesolutionoftheExecutiveBoardonAugust11,2014.

Basisofpresentation

The accompanying Group's condensed interim consolidatedfinancial statements have been prepared in accordancewith section 37x para. 3 oftheGermanSecurities Trading Act WpHG andInternationalFinancialReportingStandards IFRS and its interpretations adopted bythe International Accounting Standards Board IASB for interimfinancial information effective within the European Union. Accordingly, these financial statements do not include all of the information and footnotesrequiredbyIFRSforcompletefinancialstatementsforyear-endreportingpurposes.

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, 2014, are not necessarilyindicativeforfutureresults.

Thepreparation ofcondensedinterimfinancialstatementsinconformitywithIAS34InterimFinancialReporting requires Managementtomakejudgements,estimatesandassumptionsthataffecttheapplicationofpoliciesandreportedamounts ofassetsandliabilities,incomeandexpenses.Actualresultsmaydifferfromtheseestimates.

Theaccountingprinciplesandpracticesasappliedinthecondensedinterimconsolidatedfinancialstatementscorrespond tothosepertainingtothemostrecentannualconsolidatedfinancialstatementswiththeexceptionoftherecentlyadopted accounting standards. A detailed description of the accounting policies is published in the notes to the consolidated financialstatementsofourannualreport2012/2013.

Recentlyadoptedaccountingstandards

In fiscal year 2013/2014, ThyssenKrupp adopted the following standards, interpretations and amendments to already existingstandards:

InDecember2010theIASBissuedanamendmenttoIAS12"IncomeTaxes".UnderIAS12,themeasurementofdeferred taxes depends onwhetherthe carrying amount of an asset is recoveredthrough use or sale. Such assessment is often difficult, in particular when the asset is measured using the fair value model in IAS 40 for investment property. The amendmentintroducesapresumptionthatingeneralaninvestmentpropertyisrecoveredthroughsale.Theapplicationof the amended standard is compulsory for fiscal years beginning on or after January 01, 2012. In the context of the endorsement,the IASB defersthemandatory effective datefrom January 01, 2012to January 01, 2013. The amended standarddoesnothaveanyimpactontheGroup'sconsolidatedfinancialstatementsbecausecurrentlyinvestmentproperty isaccountedforatcostlessaccumulateddepreciation.

In May 2011the IASB issuedthe new standard IFRS 13 "Fair Value Measurement".IFRS 13 contains a definition offair valueandrulesonhowtodetermineitifotherIFRSstandardsrequirefairvaluemeasurement;thestandarditselfdoesnot prescribeinwhichcasesfairvalueistobeused.WiththeexceptionofthestandardsexplicitlyexcludedinIFRS13,IFRS13 definesstandarddisclosurerequirementsforallassetsandliabilitiesthataremeasuredatfairvalueandforallassetsand liabilitiesforwhichdisclosureoffairvalueinthenotestotheconsolidatedfinancialstatementsisrequired;inparticularit widensthedisclosurerequirementsfornon-financialassets.Thenewstandardiscompulsoryforfiscalyearsbeginningon orafterJanuary01,2013andshallbeappliedprospectively.Inthefirstyearofapplicationcomparativeinformationisnot required. The adoption of the new standard does not have a material impact on the Group's consolidated financial statements,butresultsinadditionaldisclosures.

In June 2011 the IASB issued amendments to IAS 19 "Employee Benefits". The amendments mainly concern the elimination of deferred recognition of actuarial gains and losses corridormethod infavour of immediate recognition in othercomprehensiveincomeinequityandtherecognitionofanetinterestexpenseorincomeresultingfromnetliabilities orassetsofapensionplanwhichisdeterminedbyusingthediscount rate.Furthermoreanimmediate recognitionofthe totalpastservicecostsisrequired,theexposureofotheradministrationcostsaspartofnetperiodicpensioncostaswell asthedistributionofcosts resultingfromtop-uppaymentstoemployeesunderearly retirementovertheperiodinwhich theyareearned.Furthermoreadditionaldisclosureregardingthecharacteristicsofpensionplansandtheassociated risks forthe entity is required. The amendmentsto IAS 19 are compulsoryforfiscal years beginning on or after January 01, 2013.Theadoptionoftheamendedstandardresultsinadditionaldisclosures.

The elimination of deferred recognition of actuarial gains and losses corridor method does not have any impacts on ThyssenKruppasactuarialgainsandlosseshavealreadybeenrecognizedinothercomprehensiveincomeinequitysofar. The adoption of IAS 19R impacted the consolidated statement of financial position and the consolidated statement of incomeaspresentedbelow:

IAS19R-Consolidatedstatementoffinancialposition

	Oct.01,2012			Sept.30,2013			June30,2013
million€	Before IAS19R adjustment	IAS19R adjustment	After IAS19R adjustment	Before IAS19R adjustment*	IAS19R adjustment	After IAS19R adjustment	Before IAS19R adjustment**	IAS19R adjustment	After IAS19R adjustment
Totalassets	38,284	041	38,280	35,296	1	35,297	36,653	1	36,654

Totalequity	4,526	8	4,534	2,515	031	2,512	3,575	021	3,573
Totalnon-currentliabilities	13,797	0121	13,785	15,301	4	15,305	15,128	3	15,131
thereof:Accruedpensionandsimilar obligations	7,708	0121	7,696	7,344	4	7,348	7,590	3	7,593
Totalequityandliabilities	38,284	041	38,280	35,296	1	35,297	36,653	1	36,654

*InclusiveofIAS19RadjustmentasofOct.01,2012andthecatchupofamortizationanddepreciationofBerco.

**FigureshavebeenadjustedduetotheIAS19RadjustmentasofOct.01,2012,theeliminationoftheimpairmentofSteelAmericasaswellasthecatchupofamortizationand depreciationofThyssenKruppCSAandBerco.

IAS19R-Consolidatedstatementofincome

	YearendedSept.30,2013			9monthsendedJune30,2013			3rdquarterendedJune30,2013
million€	Before IAS19R adjustment	IAS19R adjustment	After IAS19R adjustment	Before IAS19R adjustment*	IAS19R adjustment	After IAS19R adjustment	Before IAS19R adjustment*	IAS19R adjustment	After IAS19R adjustment
Income/0loss1fromoperations	07001	091	07091	29	071	22	12	021	10
Financialincome/0expense1,net	09521	0451	09971	05131	0331	05461	02041	0111	02151
Income/0loss1fromoperationsbefore incometaxes	01,6521	0541	01,7061	04841	0401	05241	01921	0131	02051
Incometax0expense1/income	59	18	77	01231	13	01101	02271	4	02231
Income/0loss1fromoperations0netoftax1	01,5931	0361	01,6291	06071	0271	06341	04191	091	04281

*FigureshavebeenadjustedduetothereclassificationofSteelAmericasasacontinuingoperation,theeliminationoftheimpairmentofSteelAmericas

aswellasthecatchupofamortizationanddepreciationofThyssenKruppCSAandBerco.

InOctober2011theIASBissuedtheIFRICinterpretation20"StrippingCostsintheProductionPhaseofaSurfaceMine". Theinterpretationregulatestheaccountingforstrippingcostsintheproductionphaseofasurfacemine.Theinterpretation clarifies under which conditions an asset must be recognized for the relating stripping measures and how initial and subsequentmeasurementofthisassethastobedetermined.Theinterpretationiscompulsoryforfiscalyearsbeginningon orafterJanuary01,2013.ThisinterpretationhasnoimpactontheGroup'sconsolidatedfinancialstatements.

In December 2011 the IASB issued an amendment to IFRS 7 "Financial Instruments: Disclosures" which requires disclosuresinthecontextofcertainoffsettingarrangements.Theobligationfordisclosureshastobeappliedregardlessof whethertheoffsettingarrangementsresultinanyactualoffsettingoftherespectivefinancialassetsandfinancialliabilities. The new disclosure requirements shall simplify comparing financial statements prepared in accordance with IFRS and financialstatementspreparedinaccordancewithUSGAAP.Theamendmentiscompulsoryforfiscalyearsbeginningonor afterJanuary01,2013andshallbeappliedretrospectively.Firsttimeadoptionimpliesextendeddisclosures.

In May 2012the IASB issuedthefourth omnibus standard "Improvementsto IFRSs" as part of its annual improvement processproject.Thisstandardslightlyadjustsfivestandards IFRS1"First-timeAdoptionofIFRS",IAS1"Presentationof Financial Statements", IAS 16 "Property, Plant and Equipment", IAS 32 "Financial Instruments: Presentation", IAS 34 "InterimFinancialReporting".TheamendmentsareeffectiveforfiscalyearsbeginningonorafterJanuary01,2013.The adoptionoftheamendmentdoesnothaveamaterialimpactontheGroup'sconsolidatedfinancialstatements.

Recentlyissuedaccountingstandards

Infiscalyear2013/2014,thefollowingstandards,interpretationsandamendmentstoalreadyexistingstandardshavebeen issuedwhichmuststillbeendorsedbytheEUbeforetheycanbeadopted:

InNovember2013theIASBissuedamendmentstoIFRS9"FinancialInstruments"HedgeAccountingandAmendmentsto IFRS9;IFRS7andIAS39.The amendmentstoIFRS9establish anewmodelthat representsasubstantialoverhaul of hedgeaccountingthatwillenableentitiestobetterreflecttheirriskmanagementactivitiesintheirfinancialstatements.In additionextensivedisclosuresarerequired.Moreoverrecognizingfairvaluechangesofliabilitiesduetocreditratingwithin equity will be possibleto be earlier adoptedwithout applyingthe complete regulations of IFRS 9. Furthermorethe IASB decidedtoabandonthemandatorydateofJanuary01,2015;anewdateshouldbedecideduponwhentheentireIFRS9 project is closer to completion. The EU has not yet endorsed the standard including the amendments. Currently, Management is not able to finally assess the impact of the adoption of the standard including the amendments – if endorsedbytheEUinthecurrentversion.

InNovember2013theIASBissuednarrow-scopeamendmentstoIAS19"EmployeeBenefits"titled"DefinedBenefitPlans: Employee Contributions Amendments to IAS 19". The amendments are applicable to recognizing contributions of employees or third parties to defined benefit plans. Hereby it will be allowed to recognize employees' or third parties' contributionsasareductionofcurrentservicecostsintheperiodinwhichthecorrespondingservicinghasbeenrenderedif thecontributionsareindependentofthenumberofyearsofemployeeservice.TheamendmentstoIAS19aretobeapplied for fiscal years beginning on or after July 01, 2014; earlier application is permitted. The EU has not yet endorsed the amendments.Currently,Managementdoesnotexpecttheamendments–ifendorsedbytheEUinthecurrentversion–to haveamaterialimpactontheGroup'sconsolidatedfinancialstatements.

InDecember2013theIASBissuedtheannualimprovementsforthe2010to2012cycleandforthecurrent2011to2013 cycleaspartofitsannualimprovementprocessproject.Inthecontextofthe2010to2012cycleclarificationsandsmaller amendmentsofsevenstandardswerepublished:IFRS2"Share-basedPayment",IFRS3"BusinessCombinations",IFRS8 "OperatingSegments",IFRS13"FairValueMeasurement",IAS16"Property,PlantandEquipment",IAS24"RelatedParty Disclosures" and IAS 38 "Intangible Assets". In the context of the 2011 to 2013 cycle clarifications and smaller amendments of four standards were published: IFRS 1 "First-time Adoption of IFRS", IFRS 3 "Business Combinations", IFRS13 "Fair Value Measurement" and IAS 40 "Investment Property". The amendments are effective for fiscal years beginning on or after July 01, 2014; earlier application is permitted. The EU has not yet endorsed the amendments. Currently,Managementdoesnotexpecttheamendments–ifendorsedbytheEUinthecurrentversion–tohaveamaterial impactontheGroup'sconsolidatedfinancialstatements.

InMay2014theIASBissuedamendmentstoIFRS11"JointArrangements"clarifyingthatboththeinitialandsubsequent acquisitionofinterestsinajointoperationthatconstitutesabusinessmustbeaccountedforinlinewiththeprinciplesof IFRS 3 "Business Combinations" except where these principles conflict with the guidance in IFRS 11. In addition, the disclosure requirementsofIFRS3mustbemet.Theamendmentsaretobeappliedforfiscalyearsbeginningonorafter January01,2016;earlierapplicationispermitted.TheEUhasnotyetendorsedtheamendments.Currently,Management doesnotexpecttheamendments–ifendorsedbytheEUinthecurrentversion–tohaveamaterialimpactontheGroup's consolidatedfinancialstatements.

In May 2014 the IASB issued amendments to IAS 16 "Property, Plant and Equipment" and IAS 38 "Intangible Assets" providing additional guidelines for determining an acceptable method of depreciation or amortization. The amendments clarifythat revenue-basedmethods are not appropriatefor calculatingthe depreciation of property, plant and equipment andareonlyappropriateinlimitedcircumstancesforcalculatingtheamortizationofintangibleassets.Theamendmentsare tobeappliedforfiscalyearsbeginningonorafterJanuary01,2016;earlierapplicationispermitted.TheEUhasnotyet endorsedtheamendments.Currently,Managementdoesnotexpecttheamendments–ifendorsedbytheEUinthecurrent version–tohaveamaterialimpactontheGroup'sconsolidatedfinancialstatements.

InMay2014theIASBissuedthenewstandardIFRS15"RevenuefromContractswithCustomers".Thepurposeofthenew standardonrevenuerecognitionistobringtogetherthelargenumberofexistingguidelinescontainedinvariousstandards andinterpretations.Atthesametimeitestablishesuniformcoreprinciplestobeappliedtoallindustriesandalltypesof revenuetransactions.A5-stepmodelisusedtodetermineatwhichpointintimeoroverwhichperiodoftimerevenuesare to be recognized and in what amount. The standard also includes further detailed guidance and extended disclosure requirements. The newstandard hasto be appliedforfiscal years beginning on or afterJanuary 01, 2017.In general it mustbeappliedretrospectively,butvarioustransitionoptionsareallowed;earlierapplicationispermitted.TheEUhasnot yetendorsedthestandard.Currently,Managementisnotabletofinallyassesswhatimpactadoptionofthestandardwill have–ifendorsedbytheEUinthecurrentversion.

In July 2014 the IASB issued the final version of IFRS 9 "Financial Instruments". The new version includes revised requirementsfortheclassificationandmeasurementoffinancialassetsandforthefirsttimeregulationsontheimpairment of financial instruments; with the new "expected loss model" losses are recognized earlier because both existing and expected losses are recognized. The new regulations must be appliedforfiscal years beginning on or after January 01, 2018. In general they must be applied retrospectively, but various transition options are allowed; earlier application is permitted. The EU has not yet endorsedthe standard. Currently, Management is not abletofinally assess what impact adoptionofthestandardwillhave–ifendorsedbytheEUinthecurrentversion.

01 Acquisitionsanddisposals

InconnectionwiththenecessaryrefinancingofOutokumpu,ThyssenKruppAGsignedacontractwithOutokumpuOyjOTK onNovember29,2013whichprovidesamongotherthingsforthetransferof100%ofthesharesinVDMandASTandother smallerstainlesssteelservicecenteractivitiesto ThyssenKrupp. Thistransferwascompleted onFebruary28,2014.The VDM group is headquartered in Germany and produces high-performance materials used among other areas in the aerospaceandenergygenerationsectors.TheItalian-basedASTgroupproducesstainlesssteel.Thetransferalsoincluded theItalianservicecenters aswellasotherstainlesssteelservicecentersinWillich Germany, Tours France,Barcelona SpainandGebze Turkey.Inadditiontothecompanyshares,financial receivables of€303millionowedtoOTK bythe VDMandASTgroupswerealsoacquired.

ThenewcompaniesarebeingintegratedintheMaterialsServicesbusinessareasoastoachievemaximumbenefitfrom the market presence of the existing distribution network. The business models and plans of VDM and AST have been analyzedoverthepastfewmonths.ForAST,acomprehensivenewbusinessplanhasbeendevelopedwhichprovidesforan intensification and restructuring ofsales ofcold-rolled products aswell asextensive restructuringmeasures in production andadministrationwithasignificantreductioninpersonnel.Thedetailswillbethesubjectofintensivenegotiationswiththe stakeholders in the coming months. At VDM the focus is now on intensifying and supporting the identified restructuring programsandgrowthinitiatives.

Thepurchasepricewas€953millionattheclosingandwassettledbytransferringfromThyssenKrupptoOutokumputhe financial receivable created as part of the sale of Inoxum. The financial receivable was stated at €969 million as of December31,2013andwaswrittendownby€16milliontomatchthepurchasepriceinthe2ndquarterendedMarch31, 2014.Underthecontractuallystipulatedadjustmentmechanisms,Outokumpumadea€41millioncompensationpayment inthe3rdquarterwhichwasrecognizedinequityasapost-closingpurchasepriceadjustment.

Based on the preliminary values as of the acquisition date, the acquisition affected the Group's consolidated financial statementsaspresentedbelow:

AcquisitionofVDM/ASTgroup
---------------------------	--

million€
Goodwill	4
Otherintangibleassets	13
Property,plantandequipment	610
Investmentproperty	11
Investmentsaccountedforusingtheequitymethod	8
Otherfinancialassets	1
Othernon-financialassets	10
Deferredtaxassets	30
Inventories	844
Tradeaccountsreceivable	410
Othercurrentfinancialassets	36
Othercurrentnon-financialassets	51
Currentincometaxassets	1
Cashandcashequivalents	10
Totalassetsacquired	2,039
Accruedpensionandsimilarobligations	132
Othernon-currentprovisions	20
Deferredtaxliabilities	71
Non-currentfinancialdebt	17
Othernon-currentnon-financialliabilities	1
Othercurrentprovisions	31
Currentincometaxliablilities	7
Currentfinancialdebt	310
Tradeaccountspayable	671
Othercurrentfinancialliabilities	114
Othercurrentnon-financialliabilities	55
Totalliabilitiesassumed	1,429
Netassetsacquired	610
Non-controllinginterest	1
Purchaseprices	609
thereof:paidincashandcashequivalents	0

*withoutpurchasepriceofacquiredfinancialreceivablesof€303million.

SincethenewacquiredcompaniesjoinedtheThyssenKruppGroupeffectiveasofFebruary28,2014,theygeneratedsales ofapprox.€1.0billionandalossbeforetaxesof€16million,whichareincludedintheconsolidatedincomestatementof the9monthsendedJune30,2014andofthe3rdquarterendedJune30,2014,respectively.Iftheacquisitionhadtaken place on October 01, 2013, the companies of VDM, AST and the new service centers would have contributed sales of approx.€2.3billionandlossesbeforetaxesofapprox.€85milliontotheGroup'sconsolidatedstatementofincome.

Furthermore in the 9 months ended June 30, 2014, the Group acquired additional smaller companies that are, on an individualbasis,immaterial.Basedonthevaluesasoftheacquisitiondate,theseacquisitionsaffectedintotaltheGroup's consolidatedfinancialstatementsaspresentedbelow:

Acquisitions9monthsendedJune30,2014

million€
Goodwill	4
Otherintangibleassets	3
Tradeaccountsreceivable	1
Totalassetsacquired	8
Othercurrentnon-financialliabilities	1
Totalliabilitiesassumed	1
Netassetsacquired	7
Non-controllinginterest	0
Purchaseprices	7
thereof:paidincashandcashequivalents	6

The disposal ofthe Steel Americas business area was initiated as of September 30, 2012 as part ofthe Strategic Way Forward;asa resulttothechangeinthedisposalplanasofSeptember30,2013,onlyThyssenKruppSteelUSAmetthe requirementsforpresentationasadisposalgroup.ThesaleofThyssenKruppSteelUSAtoaconsortiumofArcelorMittaland NipponSteel&SumitomoMetalCorporationwasclosedonFebruary26,2014.Overall,thisdisposalandtheexitofthenonoperatingUSsubsidiary TheBudd Company underChapter 11 proceedings attheend ofMarch 2014 hadthefollowing impactontheconsolidatedfinancialstatementsonthebasisofthevaluesasoftherespectivedisposaldate:

		Disposals9monthsendedJune30,2014
--	--	----------------------------------	--

million€	8
Otherintangibleassets	799
Property,plantandequipment	255
Deferredtaxassets
Inventories	333
Tradeaccountsreceivable	210
Othercurrentnon-financialassets	3
Cashandcashequivalents	317
Totalassetsdisposedof	1,925
Accruedpensionandsimilarobligations	691
Othernon-currentprovisions	5
Non-currentfinancialdebt	1
Othercurrentprovisions	18
Currentfinancialdebt	1
Tradeaccountspayable	107
Othercurrentfinancialliabilities	8
Othercurrentnon-financialliabilities	32
Totalliabilitiesdisposedof	863
Netassetsdisposedof	1,062
Cumulativeothercomprehensiveincome	0731
Non-controllinginterest	0
Gain/0loss1resultingfromthedisposals	317
Sellingprices	1,306
thereof:receivedincashandcashequivalents	1,306

02 Discontinuedoperationsanddisposalgroups

AspartoftheportfoliooptimizationprogramoftheconceptforthefurtherstrategicdevelopmentinMay2011,theGroup hasinitiatedthesaleofseveral businesses.Withtheexemption oftheStainlessGlobal businessareathesetransactions havenotmettherequirementsofIFRS5forapresentation.Therefore,revenuesandexpenseswillcontinuetobepresented as income from continuing operations until the date of the disposal. For entities for which the disposal has not been completedasofthebalancesheetdateoftherespectivereportingperiod,theassetsandliabilitiesofthedisposalgroups havebeendisclosedseparatelyintheconsolidatedbalancesheetofthereportingperiodinthelineitems"assetsheldfor sale"and"liabilitiesassociatedwithassetsheldforsale".

Although the disposal of the entire Steel Americas business area initiated in September 2012 met the criteria for presentation as a discontinued operationfromSeptember 30, 2012,thechangetothe plan of sale as of September 30, 2013meantthattheSteelAmericasbusinessareanolongermeetsthecriteriaforpresentationasadiscontinuedoperation andinsteadisreclassifiedasacontinuingoperation.Thechangeofplanalsomeantthatinsteadoftheentirebusinessarea classifying as a discontinued operation / disposal group, only the ThyssenKrupp Steel USA portion met the criteria for presentation as a disposal group. It was therefore necessary to catch up the amortization and depreciation for the ThyssenKrupp Steel CSA portion that was not charged in accordance with IFRS 5; this results in a charge to pre-tax earningsof€104millioninthe9monthsendedJune30,2013andof€32millioninthe3rdquarterendedJune30,2013. Furthermore the IFRS 5-impairment of Steel Americas as of March 31, 2013 in the amount of €683 million has been eliminated.The prior-yearpresentation oftheSteelAmericasbusinessareaintheconsolidatedstatement ofincomeand consolidatedstatementofcashflowshasbeenadjustedaccordingly.

TheStainlessGlobalbusinessareametthecriteriaforpresentationasadiscontinuedoperationfromSeptember30,2011 until completion of the combination with the Finish company Outokumpu on December 28, 2012. Therefore, for the StainlessGlobalbusinessareaallincomeandexpensesuntilDecember28,2012aswellasincomeandexpensesincurred afterthedisposalbutaredirectlyrelatedtothedisposalarepresentedseparatelyintheconsolidatedstatementofincome inthelineitem"Discontinuedoperationsnetoftax".

Disposalgroups

InSeptember2012thedisposaloftheThyssenKruppTailoredBlanksgrouphasbeeninitiatedintheSteelEuropebusiness area. Tailored Blanks is supplier of body systems to the auto industry which produces tailored steel blanks. After the approvalhasbeengivenbytheresponsibleregulatoryauthorities,withtheexemptionoftheChangchuncompaniesthesale totheChinesesteelproducerWuhanIronandSteelCorporationWISCOwascompletedasofJuly31,2013;theseChinese companiesarestillsubjecttoapprovalbythelocalauthorities.

Theassetsandliabilities oftheChangchuncompaniesinChinawhicharestill part ofthedisposal groupas ofJune30, 2014arepresentedinthefollowingtable:

DisposalgroupTailoredBlanksChina
----------------------------------	--	--	--

million€	June30,2014
Property,plantandequipment	8
Inventories	10
Tradeaccountsreceivable	13
Othercurrentnon-financialassets	1
Cashandcashequivalents	6
Assetsheldforsale	38
Currentfinancialdebt	2
Tradeaccountspayable	7
Othercurrentnon-financialliabilities	1
Liabilitiesassociatedwithassetsheldforsale	10

InadditioninSeptember2012thedisposaloftheBercogrouphasbeeninitiatedintheComponentsTechnologybusiness area. Berco is a leading global supplier of undercarriages, based mainly on forged components, for the construction machinerysectorandoffersabroadrangeofpartsandservicesforbothOEMsandtheaftermarket.Itsproductsareused inmachineryfromlargeminingequipmenttominiexcavators.Inthecontextoftheinitiateddisposalanimpairmentlossof €4milliononintangibleassetsandof€131milliononproperty,plantandequipmentwasrecognizedincostofsalesinthe 4thquarter of2011/2012 resultingfromthewrite-down oftheassetstofairvalue lesscoststosell.Atthesametime a deferredtaxassetof€1millionwasrecognized.Asaresultofunforeseenrestructuringrequirements,whichcouldonlybe implementedwiththe cooperation of employee and government representatives,the one-year period required by IFRS 5 extendedbeyondSeptember30,2013withoutdisadvantagetoexistingsaleopportunities.Asa resultofasharpdropin demand of unforeseen proportionsfrom key customers inthe mining and construction equipment sectors, a sale at an appropriatevaluecannolongerbeexpectedinthenearfuture.Forthis reason,effectiveMarch31,2014theassetsand liabilitiesoftheBercogrouparenolongerreportedasadisposalgroup,i.e.theyarenolongercontainedinthelineitems "Assetsheldforsale" or"Liabilitiesassociatedwithassetsheldforsale",butare onceagain allocatedtothe respective balancesheetitems.InlinewithIFRS5,thepresentationasofSeptember30,2013willnotbeadjustedaccordingly.

Followingthe reclassification ofthe Berco group as of March 31, 2014,the €6million amortization and depreciation not chargedsinceOctober01,2012duetoclassificationasadisposalgrouphastobecaughtup;ofthis,€3millionrelatesto the9monthsendedJune30,2013,€1milliontothe3rdquarterendedJune30,2013and€2milliontothe1sthalfyear endedMarch31,2014.

IntheSteelAmericas business areathechangetotheplan ofsaleas ofSeptember30,2013meantthat instead ofthe entirebusinessareaclassifyingasadiscontinuedoperation/disposalgroup,onlytheThyssenKruppSteelUSAportionmet thecriteriaforpresentationasadisposalgroup.

The ThyssenKrupp Steel USA disposal group comprises the ThyssenKrupp Steel USA rolling and coating plant in Calvert/Alabama.Inconnectionwiththeinitiatedsale,measurementatfairvaluelesscoststosellresultedasofSeptember 30,2013inimpairmentlossesof€2milliononintangibleassetsand€335milliononproperty,plantandequipment,which arereportedintheamountof€328millionincostofsales,€3millioninsellingexpenses,and€6millioningeneraland administrativeexpensesinthe4thquarterendedSeptember30,2013.

OnNovember29,2013ThyssenKruppsignedacontractwithaconsortiumofArcelorMittalandNipponSteel&Sumitomo Metal Corporation on the sale of the disposal group. At the beginning of February 2014 the approval of the relevant regulatoryauthoritieshadbeenreceived.

OncompletionofthetransactiononFebruary26,2014,ThyssenKruppreceivedapurchasepriceofUS\$1.55billion;added tothis came preliminary purchase price adjustments, in particularfor increased networking capital.Atthe sametime a valuable slab supply contractwas agreed under whichthe consortium will purchase 2milliontons of slabs a yearfrom ThyssenKruppCSAuntil2019.Thesaleresultedinagainondisposalbeforetaxesof€141million.

On June 29, 2014 ThyssenKrupp entered into an agreement onthe sale ofthe Swedish shipyard ThyssenKrupp Marine SystemsABformerlyKockumsAB.TheshipyardwithfacilitiesinMalmö,KarlskronaandMusköbelongstotheIndustrial Solutions business area; it concentrates onthe development, design and construction of submarines and corvettes and offersextensivemaritimeservicessuchasshiprepairing.AsofJune30,2014thetransactionhasstillbeensubjecttothe approvalbytheBoardsofThyssenKruppAGandbytheSwedishCompetitionAuthority.Inthemeanwhilethetransaction hasbeenconsummated.

TheassetsandliabilitiesofthedisposalgroupThyssenKruppMarineSystemsABasofJune30,2014arepresentedinthe followingtable:

DisposalgroupThyssenKruppMarineSystemsAB
------------------------------------------

million€	June30,2014
Otherintangibleassets	3
Property,plantandequipment	23
Deferredtaxassets	3
Inventories	5
Tradeaccountsreceivable	28
Othercurrentnon-financialassets	9
Cashandcashequivalents	3
Assetsheldforsale	74
Accruedpensionandsimilarobligations	20
Provisionsforothernon-currentemployeebenefits	1
Provisionsforcurrentemployeebenefits	1
Othercurrentprovisions	1
Tradeaccountspayable	6
Othercurrentnon-financialliabilities	85
Liabilitiesassociatedwithassetsheldforsale	114

DiscontinuedoperationStainlessGlobalbusinessarea

As of September 2011 as part of its program for the further strategic development, the corporate, organizational and contractual conditions for creating a separate Stainless Global and consequently the conditions for the first-time presentationasadiscontinuedoperationwereestablished.

Inthecontextwiththe initiated disposal, as ofSeptember 30, 2011themeasurement of discontinued operations atfair value less coststo sell based on internal calculations and market observations resulted in an impairment loss of €510 million. Thereof, €45million appliedto goodwill andthe remaining impairment loss was allocatedto property, plant and equipment.Theexpenseisrecognizedinincome/lossofdiscontinuedoperationsofthe4thquarterof2010/2011.

On January 31, 2012, the agreement to combine the Finnish stainless steel producer Outokumpu and ThyssenKrupp's stainless steel operations was signed. The EU Commission approved the combination in November 2012 with certain conditions.BasedonthecontractwithOutokumpuabouttheintendedsale,in2011/2012themeasurementresultedinan additionalimpairmentlossof€400millionthatwasallocatedtoproperty,plantandequipment.Theexpenseof€400million in total is recognized in income/loss of discontinued operations of the year ended September 30, 2012; thereof €265 millionrefertothe1stquarterof2011/2012.

Furthermore, duetothe shut-down ofthe Krefeld melt shop bythe end of 2013, an impairment loss of €42 million on property,plantandequipmentwasrecognizedinincome/lossofdiscontinuedoperationsofthe2ndquarterof2011/2012. InMay2012,Inoxumagreedwiththerelevantworkscouncilonasocialplaninconnectionwiththeconsolidationmeasures regardingtherelocationoftheDüsseldorf-Benrathfacilityandtheconnectedpersonnelreduction.Thesocialplanincludes early retirement models and compensations for employees leaving Inoxum. Further, it includes compensations for employeesbeing relocated.ThesocialplanwillapplyaccordinglytotheplannedclosureoftheKrefeldmeltshopinthe eventtheInoxumtransactioniscompleted.AsofSeptember30,2012theoverallcostsinconnectionwiththatsocialplan havebeenrecognizedasarestructuringprovisionof€58millionintheaggregateforDüsseldorf-BenrathandKrefeld.

OnDecember28,2012thecombinationoftheStainlessGlobalbusinessareawiththeFinnishcompanyOutokumpuwas completed. In this context ThyssenKrupp received €1 billion in cash from Outokumpu for receivables owed by the contributed Inoxum companies. In addition Outokumpu took on the external net financial debt and pension obligations. ThyssenKrupp holds a share of 29.9% in Outokumpu and afinancial receivable outstanding against Outokumpu with a former value of €969 million and an original maximum term of 9 years. Under the purchase agreement, this financial receivable could be adjusted by amaximum of €200 million inthe event of negativefinancial consequences arisingfor Outokumpufromconditionsimposedundermergercontrollaw.

In the context of the necessary refinancing of Outokumpu ThyssenKrupp AG signed a contract with Outokumpu Oyj on November29,2013transferring100%ofthesharesofVDMandASTandofothersmalleractivitiesinthestainlesssteel service center sector to ThyssenKrupp. In exchange, the contract provided for the transfer from ThyssenKrupp to OutokumpuofthefinancialreceivablecreatedinconnectionwiththeInoxumsale.Asaconsequenceofthetransactionthe obligationtooffsetanynegativefinancialconsequencesforOutokumpuundermergercontrol requirementsinconnection withthesaleofInoxumtoOutokumpuuptotheamountof€200millionwasomitted.

TomeettherequirementsoftheEUCommissionThyssenKruppAGwillfullydivestits29.9%interestinOutokumpuandall financiallinkswithOutokumpuGroupwillbeended.WiththeclearancebytheEUCommissiononFebruary12,2014,the approvalofalmostalltheregulatoryauthoritiesforthetransactionhasbeenreceived.TheclosingtookplaceonFebruary 28, 2014, and after a write-down of €16 million ThyssenKrupp's financial receivable from Outokumpu from the Inoxum transactionwastransferredtoOutokumpuwithafairvalueof€953million.

TheresultsoftheStainlessGlobalbusinessareathatclassifiedasadiscontinuedoperationuntilDecember28,2012are presentedinthefollowingtable.Inadditionthetableincludesincomeandexpenseincurredafterthedisposalbutdirectly relatedtothedisposalofStainlessGlobal.Inthe9monthsendedJune30,2014,thismainlyreflectstheincomefromthe reversalofprovisionsaftertherewasnolongeranobligationtooffsetanynegativefinancialconsequencesforOutokumpu undermergercontrolrequirements.Inthe9monthsendedJune30,2013,€5millionincomeandexpenseincurredafterthe disposalmainlycomprisetransaction-relatedinterestincomeandtransactioncosts.

9months ended	9months ended	3rdquarter ended	3rdquarter ended June30,2014
1,268	0	0	0
15	0	3	0
01,3601	184	0	011
0771	184	3	011
051	0	0	0
0821	184	3	011
146	0	0	0
—	—	—	—
146	0	0	0
64	184	3	011

65	184	3	011
011	0	0	0
	June30,2013	June30,2014	June30,2013

DiscontinuedoperationStainlessGlobal

The29.9%shareholdinginOutokumpuobtainedafterthedisposaloftheStainlessGlobalbusinessareaisaccountedforin theconsolidatedfinancialstatementsaccordingtotheequitymethod.AsofDecember31,2012thisshareholdingisinitially reportedwith a value of €491 million, based onthe share price atthetime ofthetransaction €0.79multiplied bythe numberofOutokumpusharesreceived.Thefairvalueoftheacquiredsharesatthetimeofthetransactionwasdetermined ina purchasepriceallocationandfinalizedas ofNovember29,2013.Adjustedfortheshare inOutokumpu'slossesand effectsfromthepurchasepriceallocation,thecarryingamountoftheinvestmentasofNovember29,2013is€253million.

InconnectionwiththenegotiationswithOutokumpu,anagreementwasreachedonNovember29,2013tosellthe29.9% share inOutokumpuOyjtofulfillthe EUCommission conditions. Thismeansthat as ofthesame datethe investment in Outokumpu meets the criteria for classification as an asset held for sale. The impairment test carried out immediately beforeclassificationasanassetheldforsaleresultedinanimpairmentlossof€17milliononNovember29,2013because therecoverableamountof€236million,basedonthequotedmarketpriceforoneOutokumpushareof€0.38onNovember 29, 2013,was lowerthanthe carrying amount ofthe investment of €253million. Thefair value less costto sell ofthe OutokumpushareholdingatDecember31,2013cameto€255millionbasedontheOutokumpusharepriceof€0.41onthe balancesheetdate.Asthisfairvaluewashigherthanthecarryingamountof€253millionimmediatelybeforeclassification as an asset held for sale, the impairment loss of €17 million recognized on November 29, 2013 had to be reversed. Comparedwiththecarrying amount of €305milion as of September 30, 2013thecarrying value ofthe investmentwas therefore€52millionlower.

Furthermoreinconnectionwiththeagreementasharederivativeliabilityintheamountof€224millionwasrecognizedfor thefirsttimeasofDecember31,2013,resultingfromthefactthatthepurchasepricefortheinvestmentinOutokumpuis contractuallyfixedat€0.05pershare.Takingintoaccounttheearningsimpactof€52millionresultingfromthereductionof thecarryingamountoftheinvestment,thetotalchargetofinancialincome/expense,netwas€276million.Furthermorein connectionwiththecontractasharederivativeliabilityintheamountof€224millionwasrecognizedforthefirsttimeasof December31,2013,resultingfromthefactthatthepurchasepricefortheinvestmentinOutokumpuwascontractuallyfixed at €0.05 per share. Taking into accountthe earnings impact of €52 million resultingfromthe reduction ofthe carrying amount of the investment, the total charge to financial income/expense, net was €276 million in the 1st quarter 2013/2014.InconnectionwiththedisposaloftheinvestmentonFebruary28,2014,thesharederivativewasderecognized and income of €2million recognized, reflectingthefactthat duetothe €253million limit onthe reversal of impairment lossesawrite-uptofairvaluelesscosttosellof€255millionwasnotpossibleasofDecember31,2013.Thiswaspartially offsetbyexpenseof€13millionfromtherecyclingoftheforeigncurrencytranslationadjustmentpreviouslyrecognizedas equityinothercomprehensiveincome.

03 Share-basedcompensation

Managementincentiveplans

Inthe2ndquarterendedMarch 31,2014,themembersoftheExecutiveBoard of ThyssenKruppAGwere grantedstock rights of the 4th installment of the long-term incentive plan LTI and it was decided to grant stock rights of the 4th installmentoftheLTItoadditionalexecutiveemployees.Atthesametime,inthe2ndquarterendedMarch31,2014,stock rightsgrantedinthe1stinstallmentoftheLTIexpiredwithoutanypaymentduetothedeclineoftheaverageThyssenKrupp EVAoverthethree-yearperformanceperiodcomparedtotheaverageEVAoverthepreviousthreefiscalyearperiod.Inthe 9monthsendedMarchJune30,2014theGrouprecordedexpensesof€59.6millionfromtheobligationsofthelong-term incentiveplanLTI9monthsendedJune30,2013:€16.8million.Inthe3rdquartermonthsendedJune30,2014,theLTI resulted in an expense of €22.2 million 3rd quarter ended June 30, 2013: €14.6 million. In the periods presented, income/lossofdiscontinuedoperationsdoesnotincludeanyexpensefromtheLTI.

In September 2010thestructure ofthe variable compensationformembers ofthe ExecutiveBoard of ThyssenKrupp AG was modified. 25% of the performance bonus granted for the respective fiscal year and 55% of the additional bonus granted depending ontheeconomicsituationwillbeobligatorilyconvertedinto ThyssenKruppAGstockrightstobepaid outafter athree-yearlock-up periodbasedontheaverageThyssenKruppshare priceinthe4th quarterofthe3rdfiscal year.Inthe3rdquarter of2010/2011thestructureofthevariablecompensationforadditionalexecutiveemployeeswas modified. 20% of the performance bonus granted for the respective fiscal year will be obligatorily converted into ThyssenKruppAGstock rightstobepaidoutafterathree-yearlock-upperiodbasedontheaverageThyssenKruppshare priceinthe4thquarterofthe3rdfiscalyear.Thiscompensationitemresultedinexpensesof€5.4millioninthe9months ended June 30, 2014 9months ended June 30, 2013:€0.8million and in expenses of €0.5 million inthe 3rd quarter endedJune30,20143rdquarterendedJune30,2013:€0.7million.

04 Accruedpensionandsimilarobligations

Based on updated interest rates andfair value of plan assets, an updated valuation of accrued pension and health care obligations was performed as of June 30, 2014, taking into account these effects while other assumptions remained unchanged.

Accruedpensionsandsimilarobligations

million€	Sept.30,2013*	June30,2014
Accruedpensionliability	6,427	6,932
Accruedpostretirementobligationsotherthanpensions	698	8
Otheraccruedpension-relatedobligations	252	198
Reclassificationduetothepresentationasliabilitiesassociatedwithassetsheldforsale	0291	0201
Total	7,348	7,118

*FigureshavebeenadjustedduetotheadoptionofIAS19R0see"Recentlyadoptedaccountingstandards"1.

TheGroupappliedthefollowingweightedaverageassumptionstodeterminepensionandpostretirementbenefitobligations otherthanpensions:

Weighted-averageassumptions

		Sept.30,2013			June30,2014
in%	Germany	Outside Germany	Total	Germany	Outside Germany	Total
Discountrateforaccruedpensionliability	3.50	3.88	3.60	2.80	3.52	2.98
Discountrateforpostretirementobligationsotherthan pensions	—	4.25	4.25	—	3.75	3.75

Thenetperiodicpostretirementbenefitcostforhealthcareobligationsisasfollows:

Netperiodicpensioncost

	9months ended June30,2013*				9months 3rdquarter ended ended June30,2014 June30,2013*				3rdquarter ended June30,2014
million€	Germany	Outside Germany	Total	Germany	Outside Germany	Total	Germany	Outside Germany	Total	Germany	Outside Germany	Total
Servicecost	79	26	105	68	22	90	26	8	34	23	8	31
Netinterestcost	164	12	176	152	7	159	54	5	59	50	2	52
Administrationcost	-	4	4	0	4	4	0	1	1	0	1	1
Pastservicecost	12	2	14	0	0	0	0	1	1	0	0	0
Curtailmentand settlementgains	0	0111	0111	0	0	0	0	0	0	0	0	0
Netperiodicpension cost	255	33	288	220	33	253	80	15	95	73	11	84

*FigureshavebeenadjustedduetotheadoptionofIAS19R0see"Recentlyadoptedaccountingstandards"1.

The above presented net periodic pension cost for defined benefit plans in Germany include cost of €5 million in the 9monthsendedJune30,2013andof€0millioninthe3rdquarterendedJune30,2013.Theabovepresentednetperiodic pensioncostfordefinedbenefitplansoutsideGermanydoesnotincludeanycostinthe9monthsendedJune30,2013 andinthe3rd quarterendedJune30,2013attributableto discontinued operations. Thecostsincurredare presentedin income/lossfromdiscontinuedoperationsintheconsolidatedstatementofincome.

Thenetperiodicpostretirementcostforhealthcareobligationsisasfollows:

Netperiodicpostretirementbenefitcost

million€	9months ended June30,2013	9months ended June30,2014	3rdquarter ended June30,2013
Servicecost	0	0	0
Netinterestcost	22	15	7
Administrationcost	0	0	0
Netperiodicpostretirementbenefitcost	22	15	7

05 Totalequity

Capitalstockincrease

On December 02, 2013, the Executive Board of ThyssenKrupp AG with the approval of the Executive Committee of the Supervisory Board resolved in accordance with the authorization under § 5, par. 5 of the Articles of Association of the CompanytoincreasethecapitalstockofThyssenKruppAGby10percentbyissuing51,448,903newnoparbearershares intheCompanyandtoexcludesubscriptionrights.

OnDecember03,2013theannouncedcapitalincreasewassuccessfullycompletedinanacceleratedbookbuildingprocess. Thenewly issued51,448,903no parsharesinThyssenKruppAGwereplacedwithGermanandinternationalinstitutional investorsatapriceof€17.15pershare.Theplacement resultedingrossproceedsof€882million,thetransactioncosts incurredwererecognizeddirectlyinequity.

ThiscapitalmeasurestrengthenedtheGroup'sequityandreducesnetfinancialdebt.

Authorizations

ThefollowingauthorizationswereissuedbyresolutionoftheAnnualGeneralMeetingonJanuary17,2014:

InrevocationofthepartlyusedauthorizationtoincreasethecapitalstockissuedbytheAnnualGeneralMeetingonJanuary 20,2012,theExecutiveBoardwasauthorized,withtheapprovaloftheSupervisoryBoard,toincreasethecapitalstockon one ormore occasions on or before January 16, 2019 by upto €370million by issuing upto 144,531,250 new no-par bearer shares in exchange for cash and/or contributions in kind authorized capital. The shareholders are in principle entitledtosubscription rights.However,theExecutiveBoardisauthorized,withtheapproval oftheSupervisoryBoard,to excludeshareholdersubscriptionrightsincertaincases;theoptionofexcludingsubscriptionrightsislimitedto20%ofthe capitalstock.§5,par.5oftheArticlesofAssociationofThyssenKruppAGhasbeenrewordedaccordingly.

TheExecutiveBoardwasauthorized,withtheapprovaloftheSupervisoryBoard,toissueonceorseveraltimesbearerof registeredwarrantand/orconvertiblebondsinthetotalparvalueofupto€2billionwithorwithoutlimitedterms,andto granttoorimposeontheholdersorcreditorsofconvertiblebondsconversionrightsorobligationsforno-parbearershares ofThyssenKruppAGwithatotalshareofthecapitalstockupto€250millioninaccordancewiththeconditionsofthese bonds.TheauthorizationisvaliduntilJanuary16,2019.TheExecutiveBoardisauthorized,subjecttotheapprovalofthe SupervisoryBoard,toexcludeshareholders'subscriptionrightsincertaincases.

FurthermoretheExecutiveBoardwasauthorizedtoconditionallyincreasethecapitalstockbyupto€250millionbyissueof upto97,626,250newno-parbearersharesconditionalcapital.Theconditionalcapitalincreaseservesthegrantingofnoparbearersharesuponexerciseofconversionoroption rights,uponfulfilmentofcorrespondingconversionobligationsor upon exercise of an option ofthe ThyssenKrupp AGto grant no-par shares ofthe ThyssenKrupp AG inwhole or in part insteadofpaymentofthecashamountduetotheholdersorcreditorsofconvertibleorwarrantbondsthatareissuedby ThyssenKruppAGorasubordinateGroupcompanyagainstcashcontributiononorbeforeJanuary16,2019asaresultof the authorization resolution passed bythe Annual General Meeting on January 17, 2014. New shares are issued atthe optionorconversionpricetobedeterminedineachcaseaccordingtotheabovementionedauthorizationresolution.Anew paragraph6hasbeeninsertedin§5oftheArticlesofAssociationofThyssenKruppAG.

06 Issuanceofabondandagreementofasyndicatedcreditfacility

OnFebruary19,2014ThyssenKruppissueda1.25billionEurobondwithamaturityof5yearsand8monthsdocumented undertheexisting10billionEuroDebtIssuanceProgramme.Thebondcarriesacouponof3.125%p.a.atanissuanceprice of 99.201%. With this transaction ThyssenKrupp AG made use of the good market environment, extended its maturity profileandstrengthenedthedebtcapitalmarketshareinisfinancingmix.

OnMarch28,2014ThyssenKruppAGagreedanew€2.0billionsyndicatedcreditlinewithitsfinancialpartners.Thefacility hasaninitialtermtoMarch28,2017.Attheendofthefirstandsecondyearsitcanbeextendedbyayearineachcase withtheapprovalofthelenders.Thenewcreditlinereplacesthe€2.5billioncreditfacilitythatwouldhaveexpiredinJuly 2014.Asofthereportingdatethecreditfacilityhadnotbeenused.Thecreditlinewasnotutilizedasofthebalancesheet date.

07 Contingenciesincludingpendinglawsuitsandclaimsfordamages

Guarantees

ThyssenKruppAGaswellas,inindividualcases,itssubsidiarieshaveissuedorhavehadguaranteesinfavourofbusiness partnersorlenders.Thefollowingtableshowsobligationsunderguaranteeswheretheprincipaldebtorisnotaconsolidated Groupcompany:

Contingencies
million€	Maximum potential amountof future payments asof June30,2014	Provisionasof June30,2014
Advancepaymentbonds	253	1
Performancebonds	109	2
Thirdpartycreditguarantee	7	0
Residualvalueguarantees	61	2
Otherguarantees	21	0
Total	451	5

Thetermsofthoseguaranteesdependonthetypeofguaranteeandmayrangefromthreemonthstotenyearse.g.rental paymentguarantees.Thebasisforpossiblepaymentsundertheguaranteesisalwaysthenon-performanceoftheprincipal debtor under a contractual agreement, e.g. late delivery, delivery of non-conforming goods under a contract or nonperformancewithrespecttothewarrantedqualityordefaultunderaloanagreement.

All guarantees are issued by or issued by instruction of ThyssenKrupp AG or subsidiaries upon request ofthe principal debtorobligatedbytheunderlyingcontractualrelationshipandaresubjecttorecourseprovisionsincaseofdefault.Ifsuch a principal debtor is acompany ownedfully or partially by aforeignthird party,thethird party isgenerally requestedto provideadditionalcollateralinacorrespondingamount.

Commitmentsandothercontingencies

Duetothehighvolatilityofironoreprices,intheSteelEuropeandSteelAmericasbusinessareastheexistinglong-term ironoreandironorepelletssupplycontractsaremeasuredfortheentirecontractperiodattheironorepricesapplyingasof the respectivebalancesheetdate.ComparedtoSeptember30,2013,thepurchasingcommitmentsdecreasedduetothe reducedironorepricesby€4.0billionto€10.8billion.

Therehavebeennomaterialchangestotheothercontingenciessincetheendofthelastfiscalyear.

Pendinglawsuitsandclaimsfordamages

FormerstockholdersofThyssenandofKrupphavepetitionedperArt.305UmwG ReorganizationAct–previousversion forajudicialreviewoftheshareexchangeratiosusedinthemergerofThyssenAGandFried.KruppAGHoesch-Kruppto formThyssenKruppAG.TheproceedingsarependingwiththeDüsseldorfRegionalCourt.Shouldarulingbemadeinfavour of the petitioners, the Court would require settlement to be made via an additional cash payment plus interest. The additionalpaymentalsowouldberequiredtobemadetoallaffectedstockholders,eveniftheywerenotpetitionersinthe judicial proceedings. However, the Group expects no such payments to become due as the exchange ratios were duly determined, negotiated between unrelated parties and audited andconfirmed bythe auditorthat has been appointed by court, and differ only insignificantlyfromthe value ratio determined bytheexpert appointed bytheDüsseldorfRegional Court.

In connection with the rail cartel various companies of the Deutsche Bahn group DB had filed claims against ThyssenKruppGfTGleistechnik,ThyssenKruppMaterialsInternationalandfurthercartelparticipants.DBsoughtextensive information and inthis connection estimatedthetotal damages caused by all participants inthe cartel at approx. €550 millionplusinterestofapprox.€300million.AsaresultoftalksheldwithDBonthisasettlementofthelegaldisputewas agreed. In January 2014 the responsible bodies and in the case of DB the funding providers gave their approval. The settlementhasthereforeenteredintoeffect.ThesettlementpaymentwasmadeinFebruary2014.Inthemeantimefurther companieshavealsoasserted orinmostcasesannounced out-of-courtclaimsagainst ThyssenKrupp inconnectionwith therailcartel.ThyssenKrupphasrecognizedprovisionsforrisksinconnectionwiththeclaimsfordamages.

Claimsfor damageshave beenfiledagainstThyssenKruppAGandcompaniesoftheThyssenKruppGroupinconnection withthe elevator cartel. ThyssenKrupp is answering claimsfor damages being pursued in court. Provisionsfor litigation risks are recognized where individual claims meet the requirements of IAS 37 for probability of occurrence and can be reliablyestimated.

Actingonananonymoustip,theGermanFederalCartelOfficehasbeeninvestigatingThyssenKruppSteelEuropeandother companies since the end of February 2013 based on an initial suspicion of price fixing in the delivery of certain steel productstotheGermanautoindustryanditssuppliersoveraperioddatingbackto1998.ThyssenKrupphaslaunchedits own investigation into the allegations with the support of external lawyers. The amnesty program we carried out from April15toJune15,2013producednoleadsregardingtheongoinginvestigations.TheinvestigationsbytheFederalCartel Officeareongoing.TheinternalinvestigationslaunchedinresponsetotheinvestigationsoftheFederalCartelOfficeareat anadvancedstagebutnotyetcomplete.Basedonthefactscurrentlyknowntous,significantadverseconsequenceswith regardtotheGroup'sasset,financialandearningssituationcannotberuledout.

In connection with the majority interest previously held by the Industrial Solutions business area in the Greek shipyard HellenicShipyardsHSYandtheconstructionofsubmarinesfortheGreekNavy,theGreekgovernmenthasfiledlegaland arbitrationactionstoclaimcompensationofapprox.€2.1billionandreimbursementofa€115millioninstallmentpayment fromThyssenKruppIndustrialSolutionsAGandThyssenKruppMarineSystemsGmbHaswellasfromHSYandthecurrent majorityshareholderofHSYduetotheonlypartialcompletionanddeliveryofthesubmarinestodate.Inouropinion,these claimsareunjustified.

Inadditionfurtherlegalandarbitrationactionsandofficialinvestigationsandproceedingsaswellasclaimshavebeenfiled againstThyssenKruppcompaniesormaybeinitiatedorfiledinthefuture.Theyincludeforexamplelegal,arbitrationand out-of-courtdisputesinconnectionwiththeconstruction,taxconcessionsgrantedandoperationoftheBraziliansteelplant, theacquisitionordisposalofcompaniesorcompanyunitswhichmayleadtopartialrepaymentofthepurchasepriceorto the payment of damages or to tax charges. Furthermore, damage claims may be payable to contractual partners, customers, consortium partners and subcontractors under performance contracts. Predictingthe progress and results of lawsuitsinvolvesconsiderable difficultiesanduncertainties.Thismeansthatlawsuitsnot disclosedseparatelycouldalso individuallyortogetherwithotherlegaldisputeshaveanegativeandalsopotentiallymajorfutureimpactontheGroup'snet assets,financialpositionandresultsofoperations.However,atpresentThyssenKruppdoesnotexpectpendinglawsuitsnot explainedseparatelyinthissectiontohaveamajornegativeimpactontheGroup'snetassets,financialpositionandresults ofoperations.

08 Financialinstruments

Thefollowingtableshowsfinancialassetsandliabilitiesbymeasurementcategoriesandclasses.Financeleasereceivables andliabilities,andderivativesthatqualifyforhedgeaccountingarealsoincludedalthoughtheyarenotpartofanyIAS39 measurementcategory.

FinancialinstrumentsasofJune30,2014

	Measurement inaccordance withIAS17
million€	Carrying amounton balancesheet June30,2014	+Amortized, cost	Fairvalue recognized inprofit orloss	Fairvalue recognized inequity	Amortized cost	Fairvalue June30,2014
Tradeaccountsreceivable,net0excludingfinancelease1	5,661	5,661				5,661
Loansandreceivables		5,661				5,661
Financeleasereceivables	50				50	50
Otherfinancialassets	375	267	70	40		377
Loansandreceivables		248				248
Available-for-salefinancialassets		19		16		35
Derivativesthatdonotqualifyforhedgeaccounting 0Financialassetsheldfortrading1			70			70
Derivativesthatqualifyforhedgeaccounting			0	24		24
Cashandcashequivalents	3,511	3,511				3,511
Loansandreceivables		3,511				3,511
Totaloffinancialassets	9,597
thereofbymeasurementcategoriesofIAS39:
Loansandreceivables	9,420	9,420				9,420
Available-for-salefinancialassets	35	19		16		35
Derivativesthatdonotqualifyforhedgeaccounting 0Financialassetsheldfortrading1	70		70			70
Financialdebt0excludingfinancelease1	7,584	7,584				8,027
Financialliabilitiesmeasuredatamortizedcost		7,584				8,027
Financeleaseliabilities	61				61	61
Tradeaccountspayable	4,518	4,518				4,518
Financialliabilitiesmeasuredatamortizedcost		4,518				4,518
Otherfinancialliabilities	1,024	826	141	57		1,024
Financialliabilitiesmeasuredatamortizedcost		826				826
Derivativesthatdonotqualifyforhedgeaccounting 0Financialliabilitiesheldfortrading1			141			141
Derivativesthatqualifyforhedgeaccounting			0	57		57
Totaloffinancialliabilities	13,187
thereofbymeasurementcategoriesofIAS39:
Financialliabilitiesmeasuredatamortizedcost	12,928	12,928				13,371
Derivativesthatdonotqualifyforhedgeaccounting 0Financialliabilitiesheldfortrading1	141		141			141

Thecarryingamountsoftradeaccounts receivable,othercurrent receivablesaswellascashandcashequivalentsequal theirfairvalues.Thefairvalueofloansequalsthepresentvalueofexpectedcashflowswhicharediscountedonthebasis ofinterestratesprevailingonthebalancesheetdate.

Available-for-salefinancialassetsprimarilyincludeequityanddebtinstruments.Theyareingeneralmeasuredatfairvalue, whichisbasedtotheextentavailableonmarketpricesasofthebalancesheetdate.Whennoquotedmarketpricesinan activemarketareavailableandthefairvaluecannotbereliablymeasured,equityinstrumentsaremeasuredatcost.

The fair value of foreign currency forward transactions is determined on the basis of the middle spot exchange rate applicable as ofthe balancesheet date, andtaking account offorward premiums or discounts arisingforthe respective remainingcontracttermcomparedtothecontractedforwardexchangerate.Commonmethodsforcalculatingoptionprices areusedforforeigncurrencyoptions.Thefairvalueofanoptionisinfluencednotonlybytheremainingtermofanoption, butalsobyotherfactors,suchascurrentamountandvolatilityoftheunderlyingexchangeorbaserate.

Interestrateswapsandcrosscurrencyswapsaremeasuredatfairvaluebydiscountingexpectedcashflowsonthebasisof marketinterestratesapplicablefortheremainingcontractterm.Inthecaseofcrosscurrencyswaps,theexchangeratesfor eachforeigncurrency,inwhichcashflowsoccur,arealsoincluded.

Thefairvalueofcommodityfuturesisbasedonpublishedpricequotations.Itismeasuredasofthebalancesheetdate, bothinternallyandbyexternalfinancialpartners.

Thecarryingamountsoftradeaccountsreceivableandothercurrentliabilitiesequaltheirfairvalues.Thefairvalueoffixed rateliabilitiesequalsthepresentvalueofexpectedcashflows.Discountingisbasedoninterestratesapplicableasofthe balancesheetdate.Thecarryingamountsoffloatingrateliabilitiesequaltheirfairvalues.

Financialassetsandliabilitiesmeasuredatfairvaluecouldbecategorizedinthefollowingthreelevelfairvaluehierarchy:

FairvaluehierarchyasofJune30,2014

million€	Balanceasof June30,2014	Level1	Level2	Level3
Financialassetsatfairvalue
Fairvaluerecognizedinprofitorloss
Derivativesthatdonotqualifyforhedgeaccounting0Financialassetsheldfortrading1	70	0	70	0
Derivativesthatqualifyforhedgeaccounting	0	0	0	0
Fairvaluerecognizedinequity
Available-for-salefinancialassets	16	14	2	0
Derivativesthatqualifyforhedgeaccounting	24	0	24	0
Total	110	14	96	0
Financialliabilitiesatfairvalue
Fairvaluerecognizedinprofitorloss
Derivativesthatdonotqualifyforhedgeaccounting0Financialassetsheldfortrading1	141	0	62	79
Derivativesthatqualifyforhedgeaccounting	0	0	0	0
Fairvaluerecognizedinequity
Derivativesthatqualifyforhedgeaccounting	57	0	57	0
Total	198	0	119	79

Thefairvaluehierarchyreflectsthesignificanceoftheinputsusedtodeterminefairvalues.Financialinstrumentswithfair value measurement based on quoted prices in activemarkets are disclosed in Level 1. In Level 2 determination of fair valuesisbasedonobservableinputs,e.g.foreignexchangerates.Level3comprisesfinancialinstrumentsforwhichthefair valuemeasurementisbasedonunobservableinputs.

Thefollowingtableshowsthereconciliationoflevel3financialinstruments:

Reconciliationlevel3financialinstrumentsinmillion€

BalanceasofSept.30,20130asset/0liability11	0921
Changesrecognizedthroughprofitorloss	13
BalanceasofJune30,20140asset/0liability11	0791

Thefinancialliability,whichis based onindividualvaluationparameters and recognized atfairvalue,comprisesafreight derivative which was valued according to the contractually agreed minimum volume on the basis of recognized hedge modelstakingintoaccountthemarketdataprevailingattheclosingdate.Theresultingincomeeffectisrecognizedinthe consolidatedstatementofincomeunder"Otherexpenses"and"Otherincome",respectively.

ThenotionalamountsandfairvaluesoftheGroup'sderivativefinancialinstrumentsareasfollows:

Derivativefinancialinstruments

	Notional amount	Carrying amount	Notional amount	Carrying amount
million€	Sept.30,2013	Sept.30,2013	June30,2014	June30,2014
Assets
Foreigncurrencyderivativesthatdonotqualifyforhedgeaccounting	2,477	36	2,846	47
Foreigncurrencyderivativesqualifyingascashflowhedges	106	2	377	7
Embeddedderivatives	67	3	75	2
Interestratederivativesqualifyingascashflowhedges*	224	2	1,489	13
Commodityderivativesthatdonotqualifyforhedgeaccounting	213	9	301	21
Commodityderivativesqualifyingascashflowhedges	31	3	64	4
Total	3,118	55	5,152	94

Liabilities
Foreigncurrencyderivativesthatdonotqualifyforhedgeaccounting	1,854	68	670	9
Foreigncurrencyderivativesqualifyingascashflowhedges	179	6	356	5
Embeddedderivatives	65	3	91	1
Interestratederivativesqualifyingascashflowhedges*	1,095	21	200	8
Commodityderivativesthatdonotqualifyforhedgeaccounting**	388	101	670	131
Commodityderivativesqualifyingascashflowhedges	157	35	211	44
Total	3,738	234	2,198	198

*inclusiveofcrosscurrencyswaps **inclusiveofcargoderivatives

09 Segmentreporting At January 01, 2013 the former Plant Technology and Marine Systems business areas were combined into the new

Industrial Solutions business area.Industrial Solutions is a leading internationalsupplier inspecial and large-scale plant construction as well as naval shipbuilding. After the Steel Americas business area was classified as a discontinued operation asfrom September 30, 2012, itwas reclassified as a continuing operationeffectiveSeptember 30, 2013. The figuresfortheprior-yearperiodhavebeenadjustedaccordingly.

Segment information for the 9 months ended June 30, 2013 and June 30, 2014 as well as for the 3rd quarter ended June30,2013andJune30,2014isasfollows:

Segmentinformation

million€	Components Technology	Elevator Technology	Industrial Solutions	Materials Services	Steel Europe	Steel Americas	Corporate	Stainless Global*	Consolidation	Group
9monthsendedJune30,2013
Externalsales	4,213	4,480	4,026	8,556	6,006	1,272	51	1,268	0	29,872
InternalsaleswithintheGroup	9	2	14	238	1,321	190	90	134	01,9981	0
Totalsales	4,222	4,482	4,040	8,794	7,327	1,462	141	1,402	01,9981	29,872
EBIT**	149	459	496	0701	33	03591	03341	70	02981	146
AdjustedEBIT**	183	487	476	160	101	03591	03101	0681	03051	365
9monthsendedJune30,2014
Externalsales	4,581	4,631	4,433	9,475	5,512	1,476	38	-	0	30,146
InternalsaleswithintheGroup	5	3	33	364	1,179	38	88	0	01,7101	0
Totalsales	4,586	4,634	4,466	9,839	6,691	1,514	126	-	01,7101	30,146
EBIT	187	476	558	124	164	126	04531	184	02961	1,070
AdjustedEBIT	208	531	562	148	184	0271	03581	0	02951	953
3rdquarterendedJune30,2013
Externalsales	1,514	1,561	1,302	2,984	2,111	438	10	0	0	9,920
InternalsaleswithintheGroup	3	1	4	72	451	35	33	0	05991	0
Totalsales	1,517	1,562	1,306	3,056	2,562	473	43	0	05991	9,920
EBIT**	43	155	157	51	14	01931	0831	0	01111	33
AdjustedEBIT**	80	172	156	62	62	01931	0931	2	01091	139
3rdquarterendedJune30,2014
Externalsales	1,601	1,608	1,558	3,707	1,845	411	12	-	0	10,742
InternalsaleswithintheGroup	2	1	27	73	383	30	30	-	05461	0
Totalsales	1,603	1,609	1,585	3,780	2,228	441	42	-	05461	10,742
EBIT	65	184	190	44	92	8	01381	011	0961	348
AdjustedEBIT	70	193	190	58	103	16	01361	0	0961	398

*discontinuedoperation

**ThefiguresofComponentsTechnologyundSteelAmericashavebeenadjusted.

Net sales and adjusted EBIT as well as operating EBIT reconcile to EBTfrom continuing operations as presented inthe consolidatedstatementofincomeasfollowing:

Reconciliationofsales

million€	9months ended June30,2013	9months ended June30,2014	3rdquarter ended June30,2013	3rdquarter ended June30,2014
Salesaspresentedinsegmentreporting	29,872	30,146	9,920	10,742
-SalesofStainlessGlobal	01,4021	-	-	-
+SalesofdiscontinuedoperationstoGroupcompanies	134	-	-	-
+SalesofGroupcompaniestodiscontinuedoperations	45	-	-	-
Salesaspresentedinthestatementofincome	28,649	30,146	9,920	10,742

ReconciliationofEBITtoEBT

million€	9months ended June30, 2013*	9months ended June30,2014	3rdquarter ended June30, 2013*	3rdquarter ended June30,2014
AdjustedEBITaspresentedinsegmentreporting	365	953	139	398
Specialitems	02191	117	01061	0501
EBITaspresentedinsegmentreporting	146	1,070	33	348
-DepreciationofcapitalizedborrowingcostseliminatedinEBIT	0171	0171	061	071
+Non-operatingincome/0expense1fromcompaniesaccountedforusingtheequity method	01081	0521	0701	0
+Financeincome	360	692	175	130
-Financeexpense	08501	01,4301	03291	03311
-ItemsoffinanceincomeassignedtoEBITbasedoneconomicclassification	0141	0251	081	8
+ItemsoffinanceexpenseassignedtoEBITbasedoneconomicclassification	28	247	4	13
EBT-Group	04551	485	02011	161
-EBTofStainlessGlobal	0691	01841	041	1
EBTfromcontinuingoperationsaspresentedinthestatementofincome	05241	301	02051	162

10 Costofsales

Costofsalesforthe9monthsendedJune30,2014,includeswrite-downsofinventoriesof€93millionwhichmainlyrelate totheSteelAmericas,ComponentsTechnologyandMaterialsServicesbusinessareas.As ofSeptember30,2013,writedownsamountedto€94million.Inthe9monthsendedJune30,2013,costofsalesincludeswrite-downsofinventoriesof €37millionwhichmainlyrelatedtotheSteelEurope,ComponentsTechnologyandMaterialsServicesbusinessareas.

Furthermore,cost ofsales of2013/2014includes€64million restructuringexpense,which relatesmostlytotheElevator TechnologyandSteelEuropebusinessareas;thereof€13millionrelatestothe3rdquarterendedJune30,2014.

11 Income/0expense1fromcompaniesaccountedforusingtheequitymethod

Inthe9monthsendedJune30,2014,thelineitemincludesexpensesof€52millionincurredinthe1sthalfyearended March31,20141sthalfyearendedMarch31,2013:€38millionresultingfromtheinvestmentinOutokumpuaccounted for using the equity method; these expenses comprise the 1st quarter 2013/2014 pro rata losses of Outokumpu from October01,2013toNovember29,2013andthemeasurementatfairvalue9monthsendedJune30,2013:expensesof €108millionand3rdquarterendedJune30,2013:expensesof€70million.

12 Earningspershare

Basicearningspershareiscalculatedasfollows:

Earningspershare
	9monthsendedJune30, 2013*		9monthsendedJune30, 2014		3rdquarterendedJune30, 2013*		3rdquarterendedJune30, 2014
	Totalamount inmillion€	Earningsper sharein€	Totalamount inmillion€	Earningsper sharein€	Totalamount inmillion€	Earningsper sharein€	Totalamount inmillion€	Earningsper sharein€
Income/0loss1fromcontinuingoperations0netoftax1 0attributabletoThyssenKruppAG'sstockholders1	05921	01.151	59	0.11	03981	00.771	40	0.07
Income/0loss1fromdiscontinuedoperations0netoftax1 0attributabletoThyssenKruppAG'sstockholders1	65	0.13	184	0.33	3	0.01	011	0.00
Income/0loss10attributabletoThyssenKruppAG's stockholders1	05271	01.021	243	0.44	03951	00.761	39	0.07
Weightedaverageshares	514,489,044		554,123,755		514,489,044		565,937,947

Relevantnumberofcommonsharesforthedeterminationofearningspershare

Earnings per share have been calculated by dividing net income/loss attributable to common stockholders of ThyssenKruppAG numeratorbytheweightedaveragenumberofcommonsharesoutstanding denominatorduringthe period.Sharesissued,soldorreacquiredduringtheperiodhavebeenweightedfortheportionoftheperiodthattheywere outstanding.

Inthe9monthsendedJune30,2014andinthe3rdquarterendedJune30,2014theweightedaveragenumberofshares increasedasaresultofthecapitalincreasecarriedoutatthebeginningofDecember2013seeNote05.

Therewerenodilutivesecuritiesintheperiodspresented.

13 Additionalinformationtotheconsolidatedstatementofcashflows

Theliquidfundsconsideredintheconsolidatedstatementofcashflowscorrespondtothe"Cashandcashequivalents"line itemintheconsolidatedstatementoffinancialpositiontakingintoaccountthecashandcashequivalentsattributabletothe disposalgroupsinclusiveofdiscontinuedoperations.

Non-cashinvestingactivities

Inthe9monthsendedJune30,2014,theacquisitionandfirst-timeconsolidationofcompaniescreatedanincreaseinnoncurrentassetsof€694million9monthsendedJune30,2013:€14million.Inthe3rdquarterendedJune30,2014these increasesamountedto€35million3rdquarterendedJune30,2013:€4million,mainlyresultingfromthecompensation paymentofOutokumpuseeNote01.

The non-cash addition of assets under finance leases in the 9 months ended June 30, 2014 amounted to €7 million 9monthsendedJune30,2013:€7millionandinthe3rdquarterendedJune30,2014to€2million3rdquarterended June30,2013:€2million.

Inconnectionwiththesecondconstructionstage ofthe"ThyssenKruppQuarter"located inEssen,therewas anon-cash additionofproperty,plantandequipmentof€44millioninthe9monthsendedJune30,20149monthsendedJune30, 2013: €20 million and of €8 million in the 3rd quarter ended June 30, 2014 3rd quarter ended June 30, 2013: €10million.

Non-cashfinancingactivities

Inthe9monthsendedJune30,2014,theacquisitionandfirst-timeconsolidationofcompaniesresultedinanincreasein grossfinancialdebtof€313million9monthsendedJune30,2013:€1million;inthe3rdquarterendedJune30,2014 theseincreasesamountedto€0million3rdquarterendedJune30,2013:€1million.

Inconnectionwiththesecondconstructionstage ofthe"ThyssenKruppQuarter"located inEssen,therewas anon-cash increaseinfinancialdebtof€44millioninthe9monthsendedJune30,20149monthsendedJune30,2013:€20million andof€8millioninthe3rdquarterendedJune30,20143rdquarterendedJune30,2013:€10million.

Essen,August11,2014 ThyssenKruppAG

TheExecutiveBoard

Hiesinger

Burkhard KaufmannKerkhoff

Reviewreport

ToThyssenKruppAG,DuisburgandEssen

Wehavereviewedthecondensedconsolidatedinterimfinancialstatements-comprisingstatementoffinancialposition,the statementofincomeandstatementofcomprehensiveincome,thestatementofchangesinequity,thestatementofcash flows and selected explanatory notes – and the interim group management report of ThyssenKrupp AG, Duisburg and Essen,fortheperiodfromOctober1,2013,toJune30,2014,whicharepartofthehalf-yearfinancialreportpursuantto §Article37xAbs.paragraph3WpHG"Wertpapierhandelsgesetz"GermanSecuritiesTradingAct.Thepreparationofthe condensedconsolidatedinterimfinancialstatementsinaccordancewiththeIFRSapplicabletointerimfinancialreportingas adoptedbytheEUandoftheinterimgroupmanagementreportinaccordancewiththeprovisionsoftheGermanSecurities Trading Act applicable to interim group management reports is the responsibility of the parent Company's Board of Managing Directors. Our responsibility is to issue a review report on the condensed consolidated interim financial statementsandontheinterimgroupmanagementreportbasedonourreview.

Weconductedour reviewofthecondensedconsolidatedinterimfinancialstatementsandtheinterimgroupmanagement reportinaccordancewithGermangenerallyacceptedstandardsforthereviewoffinancialstatementspromulgatedbythe Institut der Wirtschaftsprüfer Institute of Public Auditors in Gemany IDW and additional observed the International Standard onReview Engagements "Review ofInterimFinancialInformation Performed bytheIndependentAuditor ofthe Entity"ISRE2410.Thosestandardsrequirethatweplanandperformthereviewsothatwecanprecludethroughcritical evaluation,withmoderateassurance,thatthecondensedconsolidatedinterimfinancialstatementshavenotbeenprepared, inmaterialrespects,inaccordancewiththeIFRSapplicabletointerimfinancialreportingasadoptedbytheEUandthatthe interim group management report has not been prepared, inmaterial respects, in accordancewiththe provisions ofthe GermanSecuritiesTradingActapplicabletointerimgroupmanagementreports.Areviewislimitedprimarilytoinquiriesof company personnel and analytical procedures and therefore does not provide the assurance attainable in a financial statementaudit.Since,inaccordancewithourengagement,wehavenotperformedafinancialstatementaudit,wecannot issueanauditopinion.

Based on our review, nomatters havecometo our attentionthat cause usto presumethatthecondensed consolidated interimfinancialstatementshavenotbeenprepared,inmaterialrespects,inaccordancewiththeIFRSapplicabletointerim financialreportingasadoptedbytheEUnorthattheinterimgroupmanagementreporthasnotbeenprepared,inmaterial respects,inaccordancewiththeprovisionsoftheGermanSecuritiesTradingActapplicabletointerimgroupmanagement reports.

Essen,August13,2014

PricewaterhouseCoopers Aktiengesellschaft Wirtschaftsprüfungsgesellschaft

Prof.Dr.NorbertWinkeljohann VolkerLinke

GermanPublicAuditor GermanPublicAuditor

ReportbytheSupervisoryBoardAuditCommittee

Theinterimreportforthefirst9monthsofthe2013/2014fiscalyearHOctober2013toJune2014Iandthereviewreportby theGroup'sfinancialstatementauditorswerepresentedtotheAuditCommitteeoftheSupervisoryBoardinitsmeetingon August13,2014andexplainedbytheExecutiveBoard.Theauditorswereavailabletoprovideadditionalinformation.The AuditCommitteeapprovedtheinterimreport.

Essen,August13,2014

ChairmanoftheAuditCommittee

Prof.Dr.BernhardPellens

Contactand2014/2015dates

Contact

CorporateCommunications Telephone+49201844-536043 Fax+49201844-536041 [email protected]

InvestorRelations [email protected]

Institutionalinvestorsandanalysts Telephone+49201844-536464 Fax+492018456-531000

Privateinvestors

Infoline+49201844-536367 Fax+492018456-531000

Address

ThyssenKruppAG ThyssenKruppAllee1,45143Essen,Germany Postfach,45063Essen Telephone+49201844-0 Fax+49201844-536000 [email protected]

2014/2015dates

November20,2014 Annualpressconference Conferencecallwithanalystsandinvestors

January30,2015 AnnualGeneralMeeting

February13,2015 Interimreport 1stquarter2014/2015HOctobertoDecemberI Conferencecallwithanalystsandinvestors

May12,2015 Interimreport 1sthalf2014/2015HOctobertoMarchI Conferencecallwithanalystsandinvestors

August14,2015 Interimreport 9months2014/2015HOctobertoJuneI Conferencecallwithanalystsandinvestors

Forward-lookingstatements

This document 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'sabilitytocontrolorestimateprecisely,suchasfuture 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.Ifanyoftheseorother risksanduncertaintiesoccur,orif theassumptions underlyingany ofthese statements proveincorrect, thenactualresultsmaybemateriallydifferentfromthoseexpressedor impliedbysuchstatements.ThyssenKruppdoesnotintendorassume any obligation to update any forward-looking statements to reflect eventsorcircumstancesafterthedateofthesematerials.

Roundingdifferencesandratesofchange

Percentages and figures in this report may include rounding differences.Thesignsusedtoindicate ratesofchangearebasedon economic aspects: Improvements are indicated by a plus 4+5 sign, deteriorations are shown in brackets 4 5. Very high positive and negative rates of change4≥1,000% or≤41005%5are indicated by ++ and−−respectively.

Variancesfortechnicalreasons

Under statutory disclosure requirements, the Company must submit thisinterim reporttotheelectronicFederalGazette4Bundesanzeiger5. Fortechnicalreasonstheremaybevariancesbetweentheaccounting documentscontainedinthisreportandthosepublishedintheFederal Gazette.

ThisEnglishversionoftheannualreportisatranslationoftheoriginal German version; inthe event of variances,the German version shall takeprecedenceovertheEnglishtranslation.

Bothlanguageversionsoftheinterimreportcanbedownloadedfrom theinternetathttp://www.thyssenkrupp.com.

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

AI assistant

thyssenkrupp AG — Interim / Quarterly Report 2014

435_10-q_2014-08-14_fc263a2a-fa8f-4826-ba48-948042ccd00d.pdf

Contents 9months2013/2014—October01,2013–June30,2014

InterimManagement Report

Condensedinterim financialstatements

ThyssenKruppinfigures

GroupContinuingOperations1!

FullGroup2!

BusinessAreas

ThyssenKruppinbrief

ThyssenKruppstockmasterdata

StrategicdevelopmentoftheGroup

SaleofThyssenKruppSteelUSAcompleted

EndingofallfinanciallinkswithOutokumpu

Loss-makingbusinessKockumssoldwithdisposalgain

Expansionofimportantgrowthareas

Corporateprogram"impact2015"makingfurtherprogress

ACTcreatesnewGroupleadershipstructurewithcompetitivecosts

Focusongovernanceandcompliance

Groupreview

Operatingandstrategicmilestonesachieved

Capitalgoodsbusinessesdrivegrowthinordersandsales

EBITandfinancialpositionimpactedbyspecialitems

Specialitemsfromcontinuingoperations

Positivenetincomeafter9monthsandin3rdquarter

Netfinancialdebtreduced

Financingmeasurescompletedsuccessfully

Capitalexpendituresdownyear-on-year

Expecteddevelopments

Fiscalyear2014/2015

Businessareareview

ComponentsTechnology

ComponentsTechnologyinfigures

Orderintakeandsaleshigher

Earningsandmarginhigherinthefirst9months

ElevatorTechnology

ElevatorTechnologyinfigures

Orderintakehighdespitenegativeexchangerateeffects;ordersinhandatrecordlevel

Pleasingsalesgrowth

Performanceprogramhavinganeffect

IndustrialSolutions

IndustrialSolutionsinfigures

Higherorderintakeandsales

Significantearningsimprovement,continuinggoodmarginquality

MaterialsServices

MaterialsServicesinfigures

Highersalesinalmostallregions

AdjustedEBITlargelystableindifficultpriceandcompetitiveenvironment

SteelEurope

SteelEuropeinfigures

Ordersandsalesdownduetodisposalsandlowerprices

Increasedcrudesteelproductioninpreparationforblastfurnacerelining

"Best-in-ClassReloaded"takingeffect:EBITsignificantlyhigherindifficultmarketenvironment

SteelAmericas

SteelAmericasinfigures

Increasesinorders,salesandproduction

Clearimprovementinearnings

CorporateatThyssenKruppAG

StainlessGlobal4discontinuedoperation5

Resultsofoperationsandfinancialposition

Analysisofthestatementofincome

Analysisofthestatementofcashflows

Analysisofthestatementoffinancialposition

Subsequentevents

ThyssenKruppstock

ValuepotentialfromStrategicWayForwardakeydriverforthestock

BrokerfieldtripsasanefficientdialogueplatformforinvestorsandCompany

NorthAmericamainregionforfreefloat

Rating

Innovations

Employees

Compliance

Groupwideriskassessment

Furtherdevelopmentofthecomplianceprogram:Compliancestrategy2020

Macroandsectorenvironment

Globaleconomywithonlyslightlyhighergrowthin2014

Industrialactivitygainingmomentumoverall

Importantsalesmarkets

Opportunitiesandrisks

thyssenkrupp AG Interim / Quarterly Report 2014