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Capital market-relevant press releases, 2007-05-11, 07:22 AM

ThyssenKrupp in the 1st half 2006/2007

ThyssenKrupp maintained its successful performance in the 2nd quarter 2006/2007. In a continuing favorable operating environment, order intake and sales showed pleasing growth rates. Without the exceptional charge from the EU fine of around €480 million, the Group’s earnings would have reached €1,052 million (prior year €773 million). After this charge, income was €572 million. Pre-tax earnings in the 1st half were €1.6 billion, compared with €1.2 billion in the prior-year period. ThyssenKrupp expects its positive performance to continue in the further course of fiscal 2006/2007. Executive Board Chairman Dr. Ekkehard Schulz: “Based on the very good results in the first two quarters and improved growth prospects, we now expect to increase sales to around €50 billion and generate earnings before taxes and major nonrecurring effects of around €3.5 billion.”

The main highlights are:
・ Order intake increased by 9% from the prior-year quarter to €14.0 billion, and in the 1st half by 12% from €24.3 billion to €27.3 billion.
・ Sales rose by 11% to €13.1 billion, and in the 1st half by 12% from €22.7 billion to €25.4 billion.
・ EBITDA was €1,031 million, compared with €1,278 million a year earlier; excluding the nonrecurring charge of the EU fine EBITDA in the reporting quarter would have been €1,511 million. In the 1st half EBITDA was €2,538 million, compared with €2,176 million in the first six months of the previous fiscal year, an increase of 17% despite the EU fine.

・ Earnings before taxes reached €572 million compared with €773 million in the prior-year quarter; excluding the EU fine, earnings before taxes improved by €279 million to €1,052 million. Despite the EU fine, earnings before taxes in the 1st half reached €1.6 billion compared with €1.2 billion in the prior-year period, an increase of around a third.

・ Earnings per share decreased from €0.84 in the prior-year quarter to €0.45, but improved in the 1st half from €1.33 to €1.76, an increase of 32% despite the EU fine.

・ Net financial liabilities at March 31, 2007 were €897 million. This represents an increase of €1,644 million compared with September 30, 2006, when net financial receivables of €747 million were reported. On March 31, 2006 net financial liabilities stood at €191 million.
As a result of the significantly increased earnings strength of the Group as well as anticipated earnings effects from the investment program, the Executive Board has raised its mid-term target up to 2010. Schulz: “Our aim is to achieve sustainable earnings before taxes and major nonrecurring effects of €4 billion on sales of around €60 billion. In the longer term, particularly after the completion of our major investment projects in North America, we expect sales in the region of €65 billion and earnings before taxes and major nonrecurring effects of €4.5 to 5.0 billion.”


Online and downloadable versions of the full interim report are available in German and English at http://www.thyssenkrupp.com.

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