Capital market-relevant press releases, 2008-01-18, 07:30 AM
Forecast for current fiscal year confirmed
ThyssenKrupp confirms its forecast for the current fiscal year 2007/2008 and – if the economy behaves as expected – anticipates a positive performance overall in 2007/2008 and 2008/2009. Executive Board Chairman Dr. Ekkehard Schulz: “For the current fiscal year the Executive board expects sales of €53 billion and earnings before taxes and major nonrecurring items, including start-up costs for the steel mills in Brazil and the USA, of over €3 billion.”
As expected, earnings before major nonrecurring items in the first quarter of the current fiscal year will be lower than a year earlier at around €700 million. Initial figures available confirm this. The prior-year quarter was boosted by exceptionally strong demand and very high base prices for stainless steel which are absent this time in the Stainless and Services segments. ThyssenKrupp is ahead of budget in the first quarter and fully in line with its planning for the current fiscal year.
Executive Board Chairman Dr. Ekkehard Schulz: “Our mid-term sales target is €60 billion, while our sustainable goal for earnings before taxes and major nonrecurring items is €4 billion. In the longer term, especially after the startup of the steel mills of Steel and Stainless in North America and the investments of the other segments in other regions, our sales target is in the region of €65 billion and our target for earnings before taxes and major nonrecurring items is €4.5 billion – €5.0 billion.”