Thyssenkrupp Ag · XETR:TKA
Thyssenkrupp — Deutsche Bank German & Austrian Corporate Conference 2009
58 slides from Thyssenkrupp's conference presentation, Jun 23, 2009
Slide 1: ThyssenKrupp
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 0 ThyssenKrupp
Slide 2: Agenda
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 1 Agenda GroupStructureandStrategy GroupFinancials SegmentPerformance Summary Appendix ThyssenKrupp
Slide 3: ThyssenKrupp Group FY2007/08
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 2 ThyssenKruppGroupFY2007/08 ThyssenKruppAG FY2007/08:Sales€53,426m• EBT€3,128m• TKVA€1,916m• Employees199,374 Steel Stainless Technologies Elevator Services Sales €14.4bn Sales €7.4bn Sales €12.4bn Sales €4.9bn Sales €17.3bn
Slide 4: Cornerstones of the ThyssenKrupp Group's Strategy
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 3 CornerstonesoftheThyssenKruppGroup’sStrategy Earnings Activeportfoliomanagement Developmentofcorebusinesses Groupinitiatives Reorganization SteelEurope Divestments SteelAmericas Materials StainlessGlobal TKPLuS MaterialsServ
Slide 5: Reorganization ThyssenKrupp – Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 4 ReorganizationThyssenKrupp– Overview Strongcorporatecenter Strategicfurtherdevelopmentas integratedmaterialsandtechnologygroup Value-basedcontrol Activeportfoliomanagement Selectivegrowth Focusedcorporateinitiatives ThyssenK
Slide 6: Agenda
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 5 Agenda GroupStructureandStrategy GroupFinancials SegmentPerformance Summary Appendix ThyssenKrupp
Slide 7: Group Overview – Q2 2008/09 Highlights
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 6 GroupOverview– Q22008/09Highlights qoq yoy Orderintake €7,642 m :41;% :46;% Sales €9,859 m :14;% :25;% EBTasreported €64557 m €:695;m €:1,197;m EBT beforemajornonrecurringitems €62837 m €:616;m €:1,067;m PositiveearningsatSt
Slide 8: Group Financials – Order Intake and Sales
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 7 GroupFinancials– OrderIntakeandSales Orderintake million€ Sales million€ 2008/09 2008/09 7,642 9,859 20,529 21,381 12,887 11,522 Q1 Q2 H1 Q1 Q2 H1 2007/08 2007/08 14,084 13,199 27,354 25,469 13,270 12,270 Q1 Q2 H1 Q1 Q2 H1 T
Slide 9: Group Financials – EBT
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 8 GroupFinancials– EBT EBTasreported million€ EBTbeforemajornonrecurringitems million€ 2008/09 2008/09 H1:inventory writedowns andwindfall losses 333 62837 240 ~€650m 50 thereof: 64557 62157 Q1 Q2 H1 Q1Q2 Stainless~€200m~€150m
Slide 10: Reconciliation of Group Earnings
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 9 ReconciliationofGroupEarnings H12008/09 million€ Majornonrecurringitems2008/09million€ EBT EBT asreported before major Q1 Q2 nonrecurring Q2 items • Projectcosts :83; :26; 50 thereof: TKCSA,Brazil :57; :17; 172 Steel/Stainle
Slide 11: Segment Overview – Quarterly EBT
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 10 SegmentOverview– QuarterlyEBT 2007/08 2008/09 change million€ Q2 Q1 Q2 qoq yoy Steel 396 251 56 :195; :340; beforemajornonrecurringitems 462 335 86 :249; :376; Stainless 38 :249; 63737 :124; :411; beforemajornonrecurringite
Slide 12: Group Financials – Net Income, Operating Cash Flow
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 11 GroupFinancials– NetIncome OperatingCashFlow DevelopmentofoperatingcashflowinQ22008/09 Elevator million€ 1,483 Services 241 Technologies Elevator Corporate/ 182 Cons. 287 339 Stainless Changein 528 accrued D/A pensions Defe
Slide 13: Group Financials – Net Financial Debt
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 12 GroupFinancials– NetFinancialDebt Developmentofnetfinancialdebt inQ22008/09 million€ 3,514 3,687 Freecashflow:419 thereof: Gearing • Steel 563 Gearing 32.5% thereof: 36.2% TKCSA 308 NAFTASteel 127 26 1,090 • Stainless 46 1,
Slide 14: Solid Financial Situation – No Short-Term Refinancing Needs
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 13 SolidFinancialSituation– NoShort-TermRefinancingNeeds MaturityprofileofgrossfinancialdebtasofMarch31,2009 million€ 4,008 Total:7,507 11% 3% 11% 3% 18% 54% 1,302 851 847 253 246 H22008/09 2009/10 2010/11 2011/12 2012/13 ther
Slide 15: Progress of Net Working Capital Reduction and Cost Savings 2008/09
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 14 ProgressofNetWorkingCapitalReductionandCostSavings2008/09 Networkingcapitaldevelopmentmillion€ Progressofcostsavingsmillion€ Measures: Target~2,000 Target>1,000 • Inventoryreduction, adjustmentofrequired stocklevels k Tr ac
Slide 16: Capital Expenditures in 2008/09
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 15 CapitalExpenditures in2008/09 Overviewofcapitalexpendituresbydegreeofcompletion <50% Target 50%to80% €4,500m– €5,000m Majorinvestment Capex H12008/09: projects >80% TKCSA €849m Groß Großprojekte NAFTASteel €196m 2.994 NAFTA
Slide 17: Group Outlook 2008/09
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 16 GroupOutlook2008/09 EBT before major Mid-rangetoupperthree-digitmillion€ negative nonrecurring dependingoneconomicenvironment items Impactedby: • Restructuringcharges: EBT toachievemajorcostsavingsinthefuture asreported for
Slide 18: Agenda
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 17 Agenda GroupStructureandStrategy GroupFinancials SegmentPerformance Summary Appendix ThyssenKrupp
Slide 19: Steel
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 18 Steel Q22008/09Highlights EBTin€m excl.majornonrecurringitems Orderintakein€m 534 470 462 419 :145; :66; :68; 335 :66; :84; 86 353 396 389 402 251 :30; 3,188 3,986 3,765 3,260 2,036 1,651 56 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1
Slide 20: Steel: Output, Shipments and Revenues per Metric Ton
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 19 Steel:Output,ShipmentsandRevenuesperMetricTon Crudesteeloutput:TKSincl.shareinHKM; 1,000t/month Shipments:Hot-rolledandcold-rolledproducts 1,000t/month HKMshare Cold-rolled Hot-rolled 1,153 1,205 1,239 1,196 1,174 1,161 1,1
Slide 21: De-Stocking Peaking in Europe; Virtually Completed in the US
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 20 De-StockingPeakinginEurope;VirtuallyCompletedintheUS Inventoriesand Inventoriesand Inventories MonthsofSupply- Europe MonthsofSupply- USA China 3.0 7 10 4.0 6 Inventories MOS Inventories MOS Inventories MmtN MmonthsN 9 Mmst
Slide 22: After Massive Drop, Order Intake with First Signs of Stabilization?
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 21 AfterMassiveDrop,OrderIntake with FirstSigns ofStabilization? OrderIntakeGermanSteelIndustry;January1991– May2009 1,000t 5,000 4,500 4,000 3,500 May 3,000 2009 2,500 2,000 1,500 1,000 500 0 Jan-91 Jan-92 Jan-93 Jan-94 Jan-9
Slide 23: ThyssenKrupp CSA & Steel USA
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 22 ThyssenKruppCSA&SteelUSA CSABrazil SteelUSA PortandMaterialsHandling Hot-rolling mill - foundation work Blastfurnace #1 Cold-rolling mill - foundation work ThyssenKrupp
Slide 24: Stainless
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 23 Stainless Q22008/09Highlights EBTin€m excl.majornonrecurringitems Orderintakein€m 96 42 48 6427 38 93 62427 63097 40 6457 Q1 Q2 Q3 Q4 62497 63737 2,150 2,001 1,732 1,577 966 819 2007/08 :64; Q1 Q1 Q2 Q3 Q4 Q1 Q2 Q2 2008/09
Slide 25: Stainless: Output, Shipments and Revenues per Metric Ton
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 24 Stainless:Output,ShipmentsandRevenuesperMetricTon Crudesteeloutput* 1,000t/month Shipments*:Hot-rolledandcold-rolledproducts 1,000t/month *includingcarbon,forging,Ni-Alloys Hot-rolled,includingslabs *notconsolidated Cold-ro
Slide 26: Market Situation Cold-Rolled Products
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 25 MarketSituationCold-Rolled Products Germany USA Stocklevel:INDEXJan2005=100 Stocklevel:INDEXJan2005=100 StockReach:Calendar Days StockReach:Calendar Days 160 160 StockLevel StockLevel StockReach StockReach 140 140 AverageSt
Slide 27: Price Development: First Signs of Recovery Observable?
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 26 PriceDevelopment:FirstSignsofRecoveryObservable? EUR/t US$/t BasePriceEU* 5.000 55.000 Alloy Surcharge EU 4.500 50.000 Nickel 4.000 45.000 40.000 3.500 35.000 3.000 30.000 2.500 25.000 2.000 20.000 1.500 15.000 1.000 10.000
Slide 28: Technologies
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 27 Technologies Q22008/09Highlights EBTin€m excl.majornonrecurringitems Orderintakein€m 155 197 179 4 31 :4; 179 186 201 175 164 6297 3,212 3,108 3,397 3,773 4,897 1,723 Q1 Q2 Q3 Q4 Q1 61057 :76; 2007/08 Q2 Q1 Q2 Q3 Q4 Q1 Q2 2
Slide 29: Technologies: High Sales Coverage by Orders on Hand
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 28 Technologies:HighSalesCoveragebyOrdersonHand Salescoverage SalescoverfromordersinhandSeptember30,2008 Salesbybusinessunit6H12008/097 % SalescoveredfromordersonhandMarch31,2009 Orderintake Mechanical Components Plant Technol
Slide 30: Elevator
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 29 Elevator Q22008/09Highlights EBTin€m Orderintakein€m excl.majornonrecurringitems 139 158 148 112 :6; :2; :2; :20; 1,466 1,464 1,324 1,281 1,562 1,189 119 90 92 133 156 146 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 2007/08 2008/09
Slide 31: Elevator: Sales by Business Activities
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 30 Elevator:SalesbyBusinessActivities Salesbybusinessactivities in% Service Newelevators 30 39 15 Modernization 6 24 4 Service Newescalators Spares/Repairs Newaccessibilityproducts Service Newpassenger boardingbridges Salesfor
Slide 32: Services
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 31 Services Q22008/09Highlights EBTin€m Orderintakein€m 132 135 248 235 30 3,951 4,322 4,677 4,503 3,746 2,514 6787 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 2007/08 2008/09 2007/08 2008/09 CommentsQ22008/09 OutlookH22008/09 Ongoing
Slide 33: Agenda
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 32 Agenda GroupStructureandStrategy GroupFinancials SegmentPerformance Summary Appendix ThyssenKrupp
Slide 34: Summary
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 33 Summary Firstsigns ofstabilization,but… Difficult economic environment prevailing Countermeasures implemented: Efficiency Improvement Portfolio Optimization ManagementofInvestmentProjects ThyssenKrupp
Slide 35: Financial Calendar – 2009/10
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 34 FinancialCalendar– 2009/10 July26,2009 QuietPeriod toAugust13,2009 August14,2009 InterimReport9months2008/096OcttoJun7 ConferenceCallwithanalystsandinvestors October22,2009 QuietPeriod toNovember26,2009 November27,2009 Anal
Slide 36: How to Contact ThyssenKrupp AG Investor Relations
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 35 HowtoContactThyssenKruppAGInvestorRelations InstitutionalInvestorsand Analysts: Phone:+49211824-36464 Tobeaddedtothe IRmailinglist,sendusa Fax:+49211824-36467 briefe-mailwithyour details! E-mail:[email protected] Internet
Slide 37: ThyssenKrupp Group FY2007/08
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 36 ThyssenKruppGroupFY2007/08 ThyssenKruppAG FY2007/08:Sales€53,426m• EBT€3,128m• TKVA€1,916m• Employees199,374 Steel Stainless Technologies Elevator Services Sales €14.4bn Sales €7.4bn Sales €12.4bn Sales €4.9bn Sales €17.3bn
Slide 38: Agenda
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 37 Agenda GroupStructureandStrategy GroupFinancials SegmentPerformance Summary Appendix ThyssenKrupp
Slide 39: Active Portfolio Management at ThyssenKrupp
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 38 ActivePortfolioManagementatThyssenKrupp Significantchangeinportfoliosincethemerger:asatMarch31,2009; Disposals Acquisitions :Total:€9.5billion; :Total:€8.8billion; Steel 2,005 620 Stainless 95 235 Automotive* 2,105 1,155 Te
Slide 40: Group Overview (I)
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 39 GroupOverview6I7 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Orderintake €m 54,605 13,270 14,084 14,181 13,670 55,205 12,887 7,642 Sales €m 51,723 12,270 13,199 14,181 13,776 53,426 11,522 9,859 EBITDA €m 5,254 1,083 1,
Slide 41: Group Overview (II)
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 40 GroupOverview6II7 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Capitalexpenditures* €m 2,997 889 1,014 975 1,349 4,227 1,105 1,090 Depreciation/amort. €m 1,527 335 349 346 374 1,404 357 418 Operatingcashflow €m 2,220 :17
Slide 42: Group Financials – Net Income, Operating Cash Flow
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 41 GroupFinancials– NetIncome OperatingCashFlow DevelopmentofoperatingcashflowinH12008/09 Elevator million€ Corporate/ Changein Cons. accrued 900 623 D/A pensions Deferred 775 taxes 6917 62377 Steel 61,0747 61997 Stainless Ele
Slide 43: Group Financials – Net Financial Debt
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 42 GroupFinancials– NetFinancialDebt Developmentofnetfinancialdebt inH12008/09 million€ 1,584 3,687 132 2,195 thereof: Gearing • Steel 1,276 Gearing 623 thereof: 13.8% TKCSA 849 36.2% Divestments NAFTASteel 196 • Stainless 139
Slide 44: Balance Sheet Structure
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 43 BalanceSheetStructure Netfinancialposition,equityandratios million€ 25.4% 26.7% 22.1% 24.5% 27.4% 27.6% 24.6% Equityratio 55.2% 34.0% 2.2% 68.47% 62.17% 13.8% 36.2% Gearing 11,489 10,447 10,182 Equity 8,927 8,327 7,944 7,67
Slide 45: Steel: Segment Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 44 Steel:SegmentOverview Steel 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Orderintake €m 12,718 3,188 3,986 3,765 3,260 14,199 2,036 1,651 Sales €m 13,209 3,214 3,639 3,902 3,603 14,358 2,925 2,405 EBITDA €m 2,470 561 599
Slide 46: Long Term Customer Relations Reduce Volatility
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 45 LongTermCustomerRelationsReduceVolatility SalesbymaturityFY2007/08 in% Priceindex Index:Q31997=100; Spot 7 260 CRU Quarterly 240 20 220 ThyssenKrupp 64 200 Steel 9 180 Half-year Annual& >1year 160 140 120 SalesbyindustryFY2
Slide 47: Premium Product Portfolio Generates Above-Average Revenues
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 46 PremiumProductPortfolioGeneratesAbove-AverageRevenues ProductportfolioFY2007/08*7 in% Revenue/t €/t 5% TailoredBlanks 1.000 4% ConstructionElements ThyssenKrupp 13% SteelService Steel2; 12% Tinplate 1; 750 15% ElectricalSte
Slide 48: Stainless: Segment Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 47 Stainless:SegmentOverview Stainless 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Orderintake €m 7,684 2,150 2,001 1,732 1,577 7,460 966 819 Sales €m 8,748 1,838 1,955 1,933 1,694 7,420 1,173 988 EBITDA €m 1,034 8 98 154
Slide 49: Stainless: Cold-Rolled Imports from Third Countries
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 48 Stainless:Cold-Rolled Importsfrom Third Countries M000t/MonthN 77.0 74.2 69.3 64.6 61.2 62.1 56.1 51.9 49.2 49.4 41.9 40.9 43.1 41.1 38.8 38.9 34.3 36.3 33.6 32.3 32.0 27.7 29.828.0 27.6 21.6 21.5 20.2 17.717.1 16.9 Apr Aug
Slide 50: Stainless: Increasing Non-Volatile Customer Bases
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 49 Stainless:IncreasingNon-VolatileCustomerBases SalesStructurewithinThyssenKruppStainlessGroup StainlessSteelSalesbyCustomerGroup StainlessSteelContractStructure Others Tubes Household Long term Applications 5 10 14 contracts
Slide 51: Stainless: EBT Development
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 50 Stainless:EBTDevelopment EBTDevelopment BasePrice mEUR EUR/t 16 141 192 385 286 423 777 126 -622** 350 1.900 300 1.800 1.700 250 1.600 200 1.500 1,318 150 1.400 100 1.300 1,035 1,000 1.200 50 1,220 955 1.100 0 1.000 -50 * 9
Slide 52: Technologies: Segment Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 51 Technologies:SegmentOverview Technologies 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Orderintake €m 14,844 3,212 3,108 3,397 3,773 13,490 4,897 1,723 Sales €m 11,523 2,822 3,029 3,357 3,204 12,412 2,921 2,656 EBITDA €m
Slide 53: Technologies: Organizational Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 52 Technologies:OrganizationalOverview* ThyssenKruppTechnologiesAG Sales:€12.4bn PlantTechnology MarineSystems Mechanical Automotive Sales: €3.2bn Sales: €2.0bn Components Solutions Transrapid Sales: €3.9bn Sales: €3.2bn • Uhd
Slide 54: Elevator: Segment Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 53 Elevator:SegmentOverview Elevator 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Orderintake €m 5,281 1,466 1,464 1,324 1,281 5,535 1,562 1,189 Sales €m 4,712 1,184 1,164 1,211 1,371 4,930 1,343 1,293 EBITDA €m 12* 134 112
Slide 55: Services: Segment Overview
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 54 Services:SegmentOverview Services 2006/07 2007/08 2008/09 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Orderintake €m 16,823 3,951 4,322 4,677 4,503 17,453 3,746 2,514 Sales €m 16,711 3,867 4,232 4,603 4,634 17,336 3,726 2,903 EBITDA €m 947 190
Slide 56: Services: Sales by Customer Groups and Products/Services
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 55 Services:SalesbyCustomerGroupsandProducts/Services Salesbycustomergroups in% Salesbyproducts/services in% Automotive Pipes&Tubes Otherindustries NF-Metals Engineering 6 StainlessSteel 14 15 – fromTK3.9% 6 13 Plastics 14 4 9
Slide 57: Major Nonrecurring Items
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 56 MajorNonrecurringItems 2006/07 2007/08 2008/09 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Projectcosts: :68; :60; :34; :108; 62707 :83; :26; thereof: TKCSA :61; :51; :24; :97; 62337 :57; :17; NAFTASteel/Stainless :7; :9; :10; :11;
Slide 58: Disclaimer ThyssenKrupp AG
DeutscheBankGerman&AustrianCorporateConference,Frankfurt/Main,June23,2009 57 DisclaimerThyssenKruppAG “Theinformationsetforthandincludedinthispresentationisnotprovidedinconnectionwithanofferorsolicitationforthepurchase orsaleofasecurityandisintendedforinformationalpurposes only. Thispresentationcont
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