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ThyssenKrupp AG (THK)


Thursday 22 August, 2002

ThyssenKrupp AG

3rd Quarter Results

3rd Quarter Results 

    DUESSELDORF, Germany--(BUSINESS WIRE)--Aug. 22, 2002--

ThyssenKrupp In the 3rd Quarter Ending June 30, 2002:
Worst is Over / Clear Improvement in Earnings / All Segments in Profit 

Business at ThyssenKrupp began to pick up again in the 3rd quarter
of fiscal year 2001/2002 (April 01 to June 30, 2002).

Measured against the weak first half of the fiscal year, the
period April to June brought above all a clear improvement in
earnings. All segments returned positive income both in the quarter
and over the first nine months of the fiscal year. The key figures for
the 3rd quarter and for the first nine months of fiscal year 2001/2002
were as follows:

-   Order intake in the 3rd quarter was 9.4 billion, just higher than
    the same quarter a year earlier. However, in the first nine months
    orders were down 4% from a year earlier at 27.5 billion.

-   At 9.6 billion, sales in the 3rd quarter were level with the
    prior-year quarter. Over nine months, sales were 27.0 billion, 5%
    down from the prior-year period.

-   EBITDA in the reporting quarter was 0.8 billion, down 20% from a
    year earlier. In the first nine months EBITDA was 1.9 billion, a
    year-on-year drop of 29%.

-   Income before taxes and minority interest in the 3rd quarter was
    316 million, 119 million lower than in the comparable prior-year
    period. The figure for the first nine months was 440 million,
    568 million down from a year earlier. After eliminating
    non-recurring effects, income in the 3rd quarter at 270 million
    was 168 million higher than in the corresponding prior-year
    period. In the first nine months earnings of 279 million were
    generated, compared with 604 million a year earlier.

-   Earnings per share in the 3rd quarter of 2001/2002 were 0.39
    (previous year 0.64), after eliminating non-recurring effects
    0.31 (previous year 0.17).

-   The Group's net financial payables amounted to 6.3 billion at
    June 30, 2002, 0.1 billion less than at September 30, 2001 and
    2.0 billion less than at June 30, 2001.

Despite only weak impetus from the general economy, ThyssenKrupp
expects to continue to develop positively. In the 4th quarter
2001/2002 sales are expected to be lower than in the 3rd quarter due
to normal seasonal effects. This would give full-year 2001/2002 sales
of around 36 billion, approx. 5% lower than a year earlier.

With regard to earnings, the Group expects the positive trend of
the 3rd quarter 2001/2002 to continue in general in the 4th quarter.
However, quarterly income will be affected by the seasonal effects
already mentioned and a once-only effect from restructuring expenses
in the Automotive Segment of over 100 million. The 2001/2002 target
of 0.4 billion adjusted earnings before taxes nevertheless appears

Furthermore in fiscal year 2001/2002 ThyssenKrupp expects gains
from disposals, which amounted to 161 million in the first nine
months. In addition, the disposal gain from the sale of the indirect
shareholding in Ruhrgas AG in the amount of 191 million will be
recognized in the 4th quarter.

Goodwill amortization has been eliminated, but impairment of
goodwill based on the adoption of SFAS 142 will be recognized at the
balance sheet date. This transitional impairment will exceed the
previous goodwill amortization of more than 200 million.

The Group expects net financial payables at September 30, 2002 to
be below 6 billion. A large part of the decrease will be attributed
to the 0.5 billion received in July 2002 for the sale of the Ruhrgas

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


Dr. J|rgen Claassen

Corporate Communications and Central Bureau
Telephone +49 211 824-36002
Fax +49 211 824-36005
E-mail: [email protected]

   Short Name: ThyssenKrupp AG
   Category Code: QRT
   Sequence Number: 00000666
   Time of Receipt (offset from UTC): 20020822T085011+0100


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