Capital market-relevant press releases, 2003-02-14, 01:00 AM
ThyssenKrupp in the 1st quarter of 2002/2003
Income significantly increased from 28 million euros to 141 million euros / Earning power strengthened / Order intake and sales improved
ThyssenKrupp held up well in a difficult economic environment in the 1st quarter of fiscal year 2002/2003 (October 01 to December 31, 2002). The Group`s order intake and sales improved. Income before taxes and minority interest in the 1st quarter reached 141 million euros compared with 28 million euros in the same quarter a year earlier.
This figure of 141 million euros contains no nonrecurring effects, but was generated purely from operating activities. The quality of these earnings becomes clearer given that the comparable prior-year figure was only 5 million euros.
The highlights for the first three months of fiscal year 2002/2003 are as follows:
- Order intake in the 1st quarter was 9.0 billion euros, 2% higher than the same quarter a year earlier.
- Sales were 8.7 billion euros, up 4%.
- EBITDA was 588 million euros, 17% higher than a year earlier. Income before taxes and minority interest was 141 million euros, up 113 million euros from a year earlier.
- Basic earnings per share increased to 0.16 euros, up from -0.62 euros.
- Normalized earnings per share rose from -0.01 euros to 0.16 euros.
- The Group`s net financial payables amounted to 4.9 billion euros at December 31, 2002, 120 million euros more than at September 30, 2002 and 2.3 billion euros less than at December 31, 2001.
Professor Dr. Ekkehard Schulz, Executive Board Chairman of ThyssenKrupp AG: "We already attained our previous gearing target of around 60% at September 30, 2002, and encouragingly we held our financial debt at more or less this level at December 31, 2002. It goes without saying that we are looking to improve our gearing by further reducing our financial debt."
Despite the continuing subdued economic expectations, ThyssenKrupp expects a significant increase in earnings before taxes in the 2nd quarter 2002/2003 compared with the 2nd quarter of the previous fiscal year. The economic and political uncertainties make it impossible to give a reliable forecast for the 2nd half of the current fiscal year.
Schulz: "Assuming no further deterioration in the economic parameters, we aim to achieve a substantial improvement in full-year earnings for fiscal year 2002/2003. This would take us a major step closer to our goal of earnings before taxes of 1.5 billion euros in fiscal 2003/2004."
The full interim report is available in German and English; both versions are also available for viewing online or downloading from the internet at http://www.thyssenkrupp.com.
Dr. Jürgen Claassen
Corporate Communications and Central Bureau
Telephone +49 (211) 824-36002
Fax +49 (211) 824-36005