ThyssenKrupp – Good start to the new fiscal year

ThyssenKrupp made a good start to the fiscal year 2005/2006. Demand for the Group's products and services increased in a generally pleasing economic environment. Sales growth in the 1st quarter 2005/2006 was 9%. The Group's pre-tax income from continuing operations reached €425 million compared with €530 million in the prior-year period.

The reporting is based for the first time on IFRS; the prior-year figures have been adjusted accordingly. The highlights for the 1st quarter 2005/2006 were as follows:

• Order intake from continuing operations increased to €11.6 billion, surpassing the corresponding prior-year figure by 6%.
• Sales increased by 9% to €10.9 billion.
• EBITDA decreased from €1,000 million in the prior-year quarter to €898 million.
• Income from continuing operations before taxes amounted to €425 million, compared with €530 million in the prior-year quarter.
• Earnings per share from continuing operations reached €0.49, compared with €0.60 in the 1st quarter of the prior year.
• Net financial liabilities at December 31, 2005 stood at €315 million, an increase of €138 million compared with September 30, 2005. In comparison with December 31, 2004 net financial payables were reduced by €3,535 million.

We expect a generally positive performance in the further course of the year. For the full fiscal year 2005/2006 we anticipate sales in the region of €43 billion. Our target for earnings before taxes – excluding major nonrecurring effects – for the current fiscal year is in the region of €1.5 billion.