Information  X 
Enter a valid email address

ThyssenKrupp AG (THK)

  Print   

Thursday 23 May, 2002

ThyssenKrupp AG

Interim Results

Interim Results 

    LONDON-(BUSINESS WIRE)-May 23, 2002-

    IR Interim Results

    THYSSENKRUPP IN THE 2ND QUARTER 2001/2002: ECONOMIC PRESSURE 
    CONTINUES

The 2nd quarter of fiscal year 2001/2002 (January 01 to March 31,
2002) was still dominated by the economic slowdown, especially in
Europe:

   -   Income before taxes and minority interest, excluding goodwill
       amortization, was 96 million euros, 63 million euros lower
       than a year earlier. This includes a pre-tax disposal gain of
       91 million euros.

   -   Earnings per share were 0.13 euros(previous year 0.21 euros),
       after eliminating disposal gains normalized earnings per share
       were 0.01 euros (previous year 0.21 euros).

   -   Net financial payables increased to 7.3 billion euros at March
       31, 2002, this is 0.9 billion euros more than at September 30,
       2001. The dividend payment also contributed to this increase.
       However, compared with March 31, 2001, the Group's financial
       debt fell by 1.4 billion euros.

OUTLOOK

The forecast for the 2nd half of fiscal 2001/2002 has to be cautious.
Although there are signs of an economic recovery, the situation on
many markets remains very unstable. Consolidated sales in 2001/2002
will be lower than a year earlier due to the deterioration in the 1st
half. Pre-tax earnings, excluding goodwill amortization, will be
impacted by anticipated further restructuring charges of over 100
million euros in the 2nd half and will thus fall short of the previous
forecast of 0.5 billion euros by this amount. However, this guidance
figure does not include disposal gains, which totaled 114 million
euros in the 1st half. Goodwill impairment arising from the adoption
of SFAS 142 has not been included. This may, however, exceed the
previous year 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

end of ad-hoc-announcement  (c)DGAP 23.05.2002

Issuer's information/explanatory remarks concerning this
ad-hoc-announcement:

   Short Name: ThyssenKrupp AG
   Category Code: IR
   Sequence Number: 00000180
   Time of Receipt (offset from UTC): 20020523T062900+0100

                      

a d v e r t i s e m e n t