The worldwide economic downturn severely impacted the business performance of ThyssenKrupp in the 1st quarter of fiscal 2001/2002 (October 01 - December 31, 2001):

･ Income before taxes and minority interest decreased 386 million euros compared to the 1st quarter of fiscal 2000/2001 (414 million euros) to 28 million euros. These figures no longer include goodwill amortization (prior comparative period 58 million euros) due to the adoption of SFAS 142. A gain of 23 million euros from the sale of the Kone shares is included; in the same period in the prior year, the sale of Krupp Werner & Pfleiderer yielded a disposal gain of 65 million euros. Eliminating these disposal gains, earnings were 344 million euros down from the prior year quarter at 5 million euros.
･ Earnings per share were 0.03 euros, a decrease of 0.55 euros compared to the prior year. After eliminating non-recurring effects, normalized earnings per share were -0.01 euros (prior year 0.36 euros).
･ At December 31, 2001, net financial payables increased seasonally and as planned by 0.8 billion euros to 7.2 billion euros; at September 30, 2001 the figure was 6.4 billion euros. Compared with December 31, 2000, net financial payables were down 1.3 billion euros.

Outlook

With the economic slowdown likely to continue for the time being, the situation is expected to remain difficult in the subsequent quarters of the fiscal year. We do not anticipate a recovery in world economic growth before the second half of 2002. It is therefore increasingly unlikely that we will match last year`s sales performance in fiscal 2001/2002. From the present perspective it has to be expected that following the elimination of goodwill amortization, earnings before taxes will be approximately 0.5 billion euros (excluding any non-recurring effects). This does not include goodwill impairment due to the adoption of SFAS 142, which may exceed the previous 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 http://www.thyssenkrupp.com

Contact:

Dr. Jürgen Claassen, Corporate Communication
Phone +49 (211) 824-36002
Fax +49 (211) 824-36005
E-Mail: presse@tk.thyssenkrupp.com

Dr. Martin Grimm, ZB Investor Relation
Phone +49 (211) 824-36464
Fax +49 (211) 824-36467
E-Mail: ir@tk.thyssenkrupp.com