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ThyssenKrupp AG (THK)

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Thursday 05 December, 2002

ThyssenKrupp AG

Final Results

Final Results 

    LONDON--(BUSINESS WIRE)--Dec. 5, 2002--

         Fiscal year 2001/2002 financial highlights

Earnings slightly higher than forecast at 419 million / Net debt
significantly reduced to 4.7 billion / 0.40 dividend proposed

Due to the worldwide economic slowdown particularly in the 1st half of
fiscal 2001/2002, sales at 36.7 billion turned out 3% lower than a
year earlier (38.0 billion). Order intake was 36.4 billion, 4% lower
than the previous year (37.9 billion). ThyssenKrupp had 191,254
employees worldwide on September 30, 2002, compared with 193,516 on
September 30, 2001.

Earnings before taxes (EBT) in fiscal 2001/2002 were 762 million,
excluding disposal gains 419 million (prior year 1,117 million,
excluding non-recurring effects 774 million). This includes a
restructuring charge of 149 million at Automotive. All segments made
a positive contribution to consolidated earnings.

After deducting taxes (175 million), minority interest (33 million)
and an impairment charge of 338 million, net income is 216 million
(665 million). Basic earnings per share is 0.42 (1.76). Normalized
earnings per share is 0.48 (1.05).

Net financial payables were reduced significantly from 6.4 billion to
4.7 billion on September 30, 2002. EBITDA (earnings before interest,
tax, depreciation and amortization) in fiscal 2001/2002 was 2.6
billion (3.3 billion).

In view of the earnings decline the Executive Board will recommend to
the Supervisory Board the payment of a correspondingly reduced
dividend of 0.40 per share (prior year: 0.60). This would represent
a payout ratio of around 95% of Group net income (prior year 46%).

The full financial statements including a look ahead to the current
fiscal year will be published on December 20, 2002.

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                                          The Group in Figures

                                                                          2000/2001                 2001/2002

Order intake                                        m                     37,869                    36,404
Sales                                               m                     38,008                    36,698
EBITDA                                              m                      3,267                     2,648
Earnings before taxes and minority interest
(EBT)
    after goodwill amortization                     m                        876                        --
    before goodwill amortization                    m                      1,117                       762
Normalized EBT
    after goodwill amortization                     m                        533                        --
    before goodwill amortization                    m                        774                       419
Group net income                                    m                        665                       216
Basic earnings per share
    after goodwill amortization                                             1.29                        --
    before goodwill amortization                                            1.76                      0.42
Normalized earnings per share
    after goodwill amortization                                             0.58                        --
    before goodwill amortization                                            1.05                      0.48
Dividend per share                                                          0.60                      0.40
Payout ratio
(Group net income)                                    %                        46                        95
Net financial payables                              m                      6,407                     4,742
Employees (Sept. 30)                                                      193,516                   191,254
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   Short Name: ThyssenKrupp AG
   Category Code: FR
   Sequence Number: 00001358
   Time of Receipt (offset from UTC): 20021205T074651+0000

                                                                                                                                                                                          

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