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ThyssenKrupp AG (THK)


Wednesday 14 May, 2008

ThyssenKrupp AG

Half-yearly Report

ThyssenKrupp AG

ThyssenKrupp in the 1st half of 2007/2008

Course maintained, forecast for the year confirmed

Order intake and sales level with prior year

Group EBT after 6 months EUR 1,388 million

Against the background of slowing global economic growth, ThyssenKrupp
maintained its course in the 1st half of 2007/2008. As expected, order intake
and sales matched the strong prior-year levels, while profits were higher than
anticipated. The Group's earnings before taxes reached EUR 1,388 million. They
were impacted in particular by pre-operating costs of EUR 128 million for the
construction of the new steel mills and restructuring expense of EUR 10 million
in the Steel segment as well as gains on disposals of EUR 27 million. Before
these nonrecurring items, earnings would have been EUR 1,499 million. The
Group's earnings were lower than a year earlier, mainly due to the drastic
decline in stainless steel prices. Executive Board Chairman Dr. Ekkehard Schulz:
'We continue to forecast earnings before taxes - before nonrecurring items
including pre-operating expense for the steel mills in Brazil and the USA - of
over EUR 3 billion. Based on the current situation we expect to achieve sales of
EUR 53 billion.'

The highlights for the 1st half of 2007/2008 were as follows:

    --  Order intake was level with the previous year at EUR 27.4 billion.

    --  1st half sales were virtually unchanged against the prior-year period at
        EUR 25.5 billion.

    --  EBITDA was EUR 2,280 million, compared with EUR 2,538 million a year

    --  1st half earnings before taxes decreased from EUR 1,634 million in the
        prior year to EUR 1,388 million.

    --  Earnings per share rose from EUR 1.76 to EUR 1.85.

    --  Net financial liabilities at March 31, 2008 were EUR 1,988 million, an
        increase of EUR 2,211 million compared with September 30, 2007, when we
        reported net financial receivables of EUR 223 million. On March 31,
        2007, net financial liabilities stood at EUR 897 million.

The highlights for the 2nd quarter of 2007/2008 were as follows:

    --  Order intake at EUR 14.1 billion was up slightly from the prior year
        (EUR 14.0 billion).

    --  At EUR 13.2 billion, sales were higher than a year earlier (EUR 13.1

    --  EBITDA was EUR 1,197 million, an improvement of 16% on the previous year
        (EUR 1,031 million).

    --  Earnings before taxes were EUR 742 million, compared with EUR 572
        million in the 2nd quarter 2006/2007. Before major nonrecurring items,
        EBT would have been EUR 784 million.

    --  Earnings per share rose from EUR 0.45 to EUR 1.

The mid-term sales target for ThyssenKrupp is EUR 60 billion, while our mid-term
goal for sustainable earnings before taxes and major nonrecurring items is EUR 4
billion. In the longer term, especially after the startup of the steel mills of
Steel and Stainless in North America and the investments of the other segments
in other regions, we expect to achieve sales of around EUR 65 billion and
earnings before taxes and major nonrecurring items of EUR 4.5 to 5.0 billion.

Online and downloadable versions of the full interim report are available in
German and English at

A copy of the interim report has been submitted to the UK Listing Authority, and
will shortly be available for inspection at the UK Listing Authority┬┤s Document
Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf


Tel. No. (0)20 7676 1000

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