Company News May 12, 2006 7:31 AM
ThyssenKrupp in 1st half 2005/2006
With its highest quarterly profit since the merger - EUR 773 million - ThyssenKrupp remained on growth track in the 1st half 2005/2006. The Company strengthened its position in a generally favorable economic climate. Sales improved by 10% to EUR 22.7 billion compared with the first half of the prior year. The Group's pre-tax income from continuing operations increased to EUR 1.2 billion from EUR 978 million in the prior-year period. Dr. Ekkehard Schulz, Executive Board Chairman of ThyssenKrupp AG: "Based on the very good 1st-half performance, for the full year we are already aiming to exceed our new medium-term target for earnings before taxes - excluding major nonrecurring effects - of EUR 2 billion."
The highlights for the 2nd quarter 2005/2006 and for the first six months of fiscal 2005/2006 were as follows:
･ Order intake from continuing operations totaled EUR 12.8 billion in the 2nd quarter, 14% higher than the same quarter a year earlier, and EUR 24.3 billion in the 1st half (prior year: EUR 22 billion).
･ Sales rose by 11% to EUR 11.8 billion, and in the first half to EUR 22.7 billion (prior year: EUR 20.7 billion).
･ EBITDA increased by EUR 315 million to EUR 1,278 million, and from EUR 2 billion in the 1st half 2004/2005 to EUR 2.2 billion in the 1st half of the current fiscal year.
･ Income from continuing operations before taxes improved to EUR 773 million from EUR 448 million in the prior-year quarter. The quarterly profit includes one-time income of EUR 142 million from the break fee in connection with the non-implemented purchase of the Canadian steel company Dofasco, as well as one-time impairment charges of EUR 49 million in the Automotive segment. Income increased from EUR 978 million in the 1st half 2004/2005 to EUR 1.2 billion in the 1st half of the current fiscal year.
･ Earnings per share from continuing operations reached EUR 0.84, compared with EUR 0.50 in the 2nd quarter of the prior year. In the 1st half they rose to EUR 1.33 from EUR 1.10 in the prior-year half.
･ Net financial liabilities at March 31, 2006 stood at EUR 191 million, an increase of EUR 14 million compared with September 30, 2005. In comparison with March 31, 2005 net financial liabilities were reduced by EUR 1,784 million.
Dr. Ekkehard Schulz: "We expect the generally positive business performance to continue in the further course of the year. For fiscal year 2005/2006, we currently plan sales of over EUR 44 billion."
The full interim report is available in German and English online and downloadable versions at http://www.thyssenkrupp.com.