Company News Jan 15, 2001 1:00 AM
A successful year for ThyssenKrupp
Clear improvement in figures in 1999/2000 / pre-tax income just under euro1.1 billion / dividend euro0.75
ThyssenKrupp AG's results in fiscal 1999/2000 showed a significant improvement over the prior year.
Consolidated income before taxes and minority interest was just under euro1.1 billion (1998/99: pro forma euro601 million).
Earnings per share were euro1.02.
EBITDA (earnings before income taxes, interest, depreciation and amortization) reached euro3.4 billion, surpassing the medium-term target of euro3 billion.
On a pro forma basis, order intake rose 22% in 1999/2000 to euro38.9 billion.
Consolidated sales climbed euro4.8 billion or 15% to euro37.2 billion. All segments contributed to this increase.
Net financial debt, which has risen to over euro7.7 billion in particular as the result of high investment in property, plant and equipment and financial assets over the past two years, is to be reduced in the next two to three years by more than euro2 billion.
ThyssenKrupp is now represented by subsidiaries, branches and offices in over 80 countries. Sales with foreign customers increased in 1999/2000 to euro24.2 billion, putting the foreign share of sales at 65%.
On September 30, 2000 the Group's worldwide workforce stood at 193,316, as against 184,770 a year earlier. The headcount at foreign ThyssenKrupp subsidiaries rose 12.6% to 86,253, putting the foreign share at 45%.
A recommendation will be made to the Annual Stockholders' Meeting to resolve payment of a slightly improved dividend of euro0.75 per no-par-value share (1998/99: euro0.72). The dividend is thus once again at a pleasing level. For tax reasons the dividend payment will not carry any tax credit.
The dividend yield is 4.9% (related to the share price of euro15.39 on September 29, 2000).
ThyssenKrupp has made a good start to the 2000/2001 fiscal year. Sales and earnings are encouraging. We are aiming to match 1997/98's good pre-tax income figure of around euro1.3 billion, following euro1.1 billion in fiscal 1999/2000. ThyssenKrupp assumes that it will be able to pay another pleasing dividend to its stockholders.
Table: Order intake, sales and income 1999/2000 (US GAAP) by segment versus 1998/1999 (pro forma)
Remarks by Dr. Cromme and Prof. Dr. Schulz
Remarks by Dr. Jooss