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Ad Hoc Releases, 2002-05-23, 02:00 AM

ThyssenKrupp in the 2nd quarter 2001/2002: Economic pressure continues

The 2nd quarter of fiscal year 2001/2002 (January 01 to March 31, 2002) was still dominated by the economic slowdown, especially in Europe:・ Income before taxes and minority interest, excluding goodwill amortization, was 96 million euros, 63 million euros lower than a year earlier. This includes a pre-tax disposal gain of 91 million euros.
・ Earnings per share were 0.13 euros (previous year 0.21 euros), after eliminating disposal gains normalized earnings per share were 0.01 euros (previous year 0.21 euros).
・ Net financial payables increased to 7.3 billion euros at March 31, 2002, this is 0.9 billion euros more than at September 30, 2001. The dividend payment also contributed to this increase. However, compared with March 31, 2001, the Group`s financial debt fell by 1.4 billion euros.


The forecast for the 2nd half of fiscal 2001/2002 has to be cautious. Although there are signs of an economic recovery, the situation on many markets remains very unstable. Consolidated sales in 2001/2002 will be lower than a year earlier due to the deterioration in the 1st half. Pre-tax earnings, excluding goodwill amortization, will be impacted by anticipated further restructuring charges of over 100 million euros in the 2nd half and will thus fall short of the previous forecast of 0.5 billion euros by this amount. However, this guidance figure does not include disposal gains, which totaled 114 million euros in the 1st half. Goodwill impairment arising from the adoption of SFAS 142 has not been included. This may, however, exceed the previous year goodwill amortization of over 200 million euros.

The full interim report is available in German and English; both versions can be downloaded from the internet at


Dr. Jürgen Claassen, Corporate Communication
Phone +49 (211) 824-36002
Fax +49 (211) 824-36005

Dr. Martin Grimm, ZB Investor Relation
Phone +49 (211) 824-36464
Fax +49 (211) 824-36467

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