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Capital market-relevant press releases, 2002-12-05, 01:00 AM

Fiscal year 2001/2002 financial highlights

Earnings slightly higher than forecast at 419 million euros / Net debt significantly reduced to 4.7 billion euros/ 0.40 euros dividend proposed

Due to the worldwide economic slowdown particularly in the 1st half of fiscal 2001/2002, sales at 36.7 billion euros turned out 3% lower than a year earlier (38.0 billion euros). Order intake was 36.4 billion euros, 4% lower than the previous year (37.9 billion euros). ThyssenKrupp had 191,254 employees worldwide on September 30, 2002, compared with 193,516 on September 30, 2001.

Earnings before taxes (EBT) in fiscal 2001/2002 were 762 million euros, excluding disposal gains 419 million euros (prior year 1,117 million euros, excluding non-recurring effects 774 million euros). This includes a restructuring charge of 149 million euros at Automotive. All segments made a positive contribution to consolidated earnings.

After deducting taxes (175 million euros), minority interest (33 million euros) and an impairment charge of 338 million euros, net income is 216 million euros (665 million euros). Basic earnings per share is 0.42 euros (1.76 euros). Normalized earnings per share is 0.48 euros (1.05 euros).

Net financial payables were reduced significantly from 6.4 billion euros to 4.7 billion euros on September 30, 2002. EBITDA (earnings before interest, tax, depreciation and amortization) in fiscal 2001/2002 was 2.6 billion euros (3.3 billion euros).

In view of the earnings decline the Executive Board will recommend to the Supervisory Board the payment of a correspondingly reduced dividend of 0.40 euros per share (prior year: 0.60 euros). This would represent a payout ratio of around 95% of net income (prior year 46%).

The full financial statements including a look ahead to the current fiscal year will be published on December 20, 2002.

The Group in Figures


Dr. Jürgen Claassen
Corporate Communications and Central Bureau
Telephone +49 211 824 36002
Fax +49 211 824 36005

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