Capital market-relevant press releases, 2004-12-01, 01:00 AM
ThyssenKrupp in fiscal year 2003/2004
Earnings more than doubled to 1.5 billion euros/Net financial payables down to 2.8 billion euros/Dividend of 0.60 euros recommended
In fiscal year 2003/2004 ThyssenKrupp delivered its best results since the merger in 1999. The Company`s medium-term goal has already been reached. The triple jump has been achieved.
- Earnings before taxes from continuing operations reached 1,580 million euros (fiscal 2002/2003: 774 million euros), 806 million euros more than a year earlier. Earnings thus more than doubled. Without a number of special non-recurring effects EBT would have been 1.75 billion euros. This earnings level reflects the operating strength of the Group.
- Linked with the earnings is a ROCE of 12% and a positive EVA of 572 million euros, to which all segments contributed. Here, too, the Company achieved its medium-term target.
- Order intake and sales increased at double-digit rates: orders by 17% to 41.0 billion euros and sales by 11% to 39.3 billion euros.
- Net financial payables decreased from 4.2 billion euros to 2.8 billion euros. Gearing improved from 55.2% to 34%.
- Earnings per share was 1.81 euros, compared with 1.09 eurosin fiscal 2002/2003.
- At its meeting on November 30, 2004 the Supervisory Board endorsed the proposal of the Executive Board to recommend to the Annual General Meeting an increase in the dividend from 0.50 euros to 0.60 euros per share.
ThyssenKrupp AG Executive Board Chairman Prof. Dr. Ekkehard Schulz: "ThyssenKrupp has geared itself to the profound changes brought about by globalization. The platform for ThyssenKrupp was the merger in 1999. Today`s success confirms that this was the right move. The marked qualitative as well as quantitative improvement in our earnings and the solid performance of ThyssenKrupp reflect the many measures implemented in recent years to increase our performance capability."
If the economic forecasts are accurate, ThyssenKrupp expects the Group`s encouraging performance to continue in 2004/2005. Sales in the region of over 41 billion euros are expected in the current fiscal year. This does not include portfolio changes.
Schulz: "Assuming no distortions on the raw material and currency markets, our aim for 2004/2005, despite the signs of a slowdown of the global economy, is to maintain the very good level of pre-tax earnings achieved in 2003/2004. This does not include the effects of disposals. We will continue to pay a dividend based on our earnings performance."
Dr. Jürgen Claassen
Corporate Communications, Strategy, and Executive Affairs
Telephon +49 (211) 824-36001
Fax +49 (211) 824-36005