Ad Hoc Releases, 2001-11-09, 01:00 AM
ThyssenKrupp Group in fiscal year 2000/2001: Key financials
In its meeting today, the Supervisory Board discussed the key financials for 2000/2001:
･ Before non-recurring items, 4th quarter pre-tax earnings were higher than the 3rd quarter level (euros44 million); even after non-recurring items, in particular a deconsolidation loss of around euros60 million on the disposal of the ocean shipping activities, 4th quarter earnings were still positive. Consolidated earnings before taxes for the full year 2000/2001 are thus around euros850 million (previous year: just under euros1.1 billion). Before non-recurring items, the figure is around euros500 million.
･ Net financial debt was reduced by euros1.2 billion from euros7.7 billion on September 30, 2000 to euros6.5 billion on September 30, 2001.
･ In view of the drop in earnings, to improve the Group`s financial strength the Executive Board will propose to the Supervisory Board the payment of a correspondingly adjusted dividend of euros0.60 per share (previous year: euros0.75).
Against the current economic backdrop it is unlikely that consolidated pre-tax earnings in 2001/2002 will reach the 2000/2001 figure of around euros500 million (excluding non-recurring items). A 1st quarter loss for the Group cannot be ruled out. Performance in the subsequent quarters will depend on the scale and the course of the expected economic recovery in the USA and Europe.