Ad Hoc Releases, 2000-05-24, 02:00 AM
The ThyssenKrupp Group in the first half of 1999/00
Good start to the new fiscal year / income doubled, strong improvement in order intake and sales
In a positive economic environment ThyssenKrupp received orders worth Euro18.7 billion in the first six months of fiscal 1999/00, 21.3% more than in the same period the year before. The Group´s sales improved 10% to Euro17.4 billion. The growth stemmed mainly from a strong increase in foreign business.
In the first half of the 1999/00 fiscal year ThyssenKrupp achieved income before taxes and minority interest of Euro366.5 million, almost double the pro forma figure for last time (Euro187.3 million).
After deducting taxes and minority interest, net income was Euro170.7 million, an increase of Euro108.5 million over the prior-year period. At Euro0.33 earnings per share were up Euro0.21 on the previous year.
The Group invested approximately Euro1.2 billion in the first half of 1999/00. Expenditure on property, plant and equipment and intangible assets amounted to Euro1,165.8 million, the remaining Euro40.5 million was used for the acquisition of companies and equity interests.
In view of the bright economic prospects we expect brisk demand to continue for ThyssenKrupp products and services in the second half of 1999/00. Excluding the effects of portfolio changes we are currently planning to increase sales by 10% in the 1999/00 fiscal year.
The positive first-half earnings performance will continue in the rest of fiscal 1999/00. With the exception of Production Systems, all segments are expected to make a profit. In addition to the continued realization of synergies, the portfolio optimization will also improve ThyssenKrupp´s earning power. We expect to make a distinctly higher profit. For tax reasons, the dividend payment is not expected to carry a tax credit.